Tmbthanachart Bank Public Company Limited · SET:TTB
Tmbthanachart Bank Public — Investor Presentation (December 2025)
58 slides from Tmbthanachart Bank Public's investor presentation, Dec 8, 2025
Slide 1: TMBThanachart Bank Investor Presentation
TMBThanachart Bank Investor Presentation Tokyo, Japan December 8-9, 2025
Slide 2: Why Thailand, Why Thai Banks, Why ttb
1 2 3 Why Thailand Why Thai Banks Why ttb Upside Opportunities Resilient Thai Banking Industry Offering a combination of stability, 2 capital discipline and returns
Slide 3: Thailand opportunities
1 Thailand opportunities a Thai baht appreciation as one of safe-haven currencies, supported by a strong surplus in current account b Re-emerging FDI and New S-Curve sectors (EVs and Digital economy) c Government initiatives to drive short-term impact for long-term inclusive results, addressing stru
Slide 4: Thailand as a safe haven: Thai baht outperforms regional peers
1 a Thailand as a safe haven: Thai baht generally outperforms most regional peers Movements in USDTHB, JPYTHB and the Dollar Index THB Nominal Effective Exchange Rate (NEER) vs Regional Peers Since Post-Covid USDTHB 100 JPYTHB Dollar Index 29 Dec 20 = 100 IDR NEER THB NEER MYR NEER JPY NEER VND NEER
Slide 5: Overall resilient external stability remained robust
1 a Overall resilient external stability remained robust External Debt Current Account Foreign Reserve Real Interest Rate* (%GDP) (%GDP) (USD bn) (%) Taiwan 27.6 Singapore Taiwan 600.20 S. Korea 0.35 18.10 Vietnam 27.9 Taiwan S.Korea 403.90 14.80 Vietnam 0.98 The higher the ranking, the better Phili
Slide 6: US tariff and transshipment rules: Thailand as an attractive investment destination
b1 b US tariff and transshipment rules: Thailand as an attractive investment destination and opportunities China’s outward direct investment FDI cumulative inflow to Thailand of selected ASEAN countries from selected countries since 2009 US reciprocal tariff rate of Asian countries Billion USD Billi
Slide 7: Thailand's US tariff outcome in line with peers
b1 b Thailand’s US tariff outcome in line with peers, although further details on RVC criteria and level are yet unclear. RVC threshold exceeding 50% could disrupt some major exports Proportion of Thailand’s local content and Thailand’s trade balance with all countries Thailand’s export value and pr
Slide 8: Opportunity for level playing field with Vietnam
b1 b Opportunity for level playing field with Vietnam as Thailand has potentially more mature supply chain Import products from China and export products to the US Import products from China and export products to the US which may at risk of China’s transmission effect (4-digit HS code)* which may a
Slide 9: BOI investment promotion approvals grew, led by digital industry
1 b BOI investment promotion on application approved grew remarkably, led by digital industry Value of BOI investment promotion application by nationality In Nov-2025, BOI has launched “FastPass” system, a collaboration with Billion THB seven government agencies, to reduce permit and approval proces
Slide 10: Investment in new frontier industries as a driver of growth
1 b Investment in the new frontier industries as a driver of growth Major planned Foreign Direct Investment in new targeted industries, 2022-2026F Investment value of BOI application Investment value requested Company Nationality Activity (M.USD) Billion THB Ford US 900 Expand and upgrade EV manufac
Slide 11: 'Quick Big Win' initiatives
1 c ‘Quick Big Win’ initiatives; Driving short-term impact for long-term inclusive results Quick Big Win Initiatives Promoting Boosting domestic Resolving Strengthening Upgrading individuals’ consumption household debt SME businesses infrastructure investment Short-term policies Medium to long-term
Slide 12: Collective and Preventive approaches for resolving household debt
1 c “Collective” and “Preventive” approaches for resolving household debt sustainably Existing debtors 1) “You Fight, We Help” scheme 2) “JV-AMC” scheme: Establishing a joint venture AMC between commercial banks and SFIs to manage small amount of NPLs (<100k) : Initiative to ease household and SME d
Slide 13: Thai economic growth in 2026 projected to slow
1 d Thai economic growth in 2026 projected to slow amid headwinds Economic indicators 2022-2026F Real GDP growth development, 2019-2026F Index (2019avg=100) %YoY 2022 2023 2024 9M25 2025F 2026F 115 Projection 110 GDP 2.6 2.0 2.5 2.4 2.2 1.6 105 Private consumption 6.2 6.9 4.4 2.6 2.3 1.7 100 95 Priv
Slide 14: Key drivers on decelerating path
1 d Key drivers on decelerating path 1. Private Consumption 2. Foreign Tourist 3. Merchandise Export (60% of GDP)* (13% of GDP)* (59% of GDP)* Index 2019=100 Index 2019=100 Index 2019=100 123.0 124.5 121.0 118.3 121.0 113.5 111.7 109.9 106.0 89.0 83.0 86.5 108.7 106.8 70.4 99.8 28.1 1.0 2021 2022 20
Slide 15: Why Thailand, Why Thai Banks, Why ttb
1 2 3 Why Thailand Why Thai Banks Why ttb Upside Opportunities Resilient Thai Banking Industry Offering a combination of stability, 15 capital discipline and returns
Slide 16: Resilient Thai Banking Industry
2 Resilient Thai Banking Industry a Strong capital base : among the highest CAR as well as LCR and LLR ratios globally b Sustain profitability : digital shift driving cost efficiency while credit cost trending down, allowing banks to maintain profitability c Resilient shareholder return: strong abil
Slide 17: Thai banking system among the strongest capitalized in Asia
2 a Thai banking system - Among the strongest capitalized in Asia, supporting both financial stability and dividend payout capacity Avg. LCR 255% ▪ Thai banks operate under a robust regulatory 230% framework, with capital and liquidity buffers that Thailand ranking among the strongest in ASEAN. 205%
Slide 18: Efficient cost base: digital shift and branch optimization
2 b Efficient cost base - Digital shift & branch optimization are delivering sustainable cost savings ▪ Digital adoption has scaled fast - digital users rose from 46 mn to 132 mn, while the share of digital transactions rose to over 80%, up from 51% in 2018. ▪ Channel migration materially reduces ph
Slide 19: Prudent risk control: provisioning and LLR coverage
2 b Prudent risk control – disciplined provisioning and LLR coverage, indicating potential upsides from credit cost and LLR normalization ▪ Sector credit cost remains elevated at ~160 bps while Coverage ratio stands at ~180%, among the highest in ASEAN. ▪ NPL ratio is well contained at ~3.2% with a
Slide 20: Shareholder value: payouts, yield and potential buyback
2 c Shareholder value – Strong Payouts, Quality Yield and Potential buyback d with attractive valuation ▪ Thai banks offer compelling investment opportunities, delivering attractive dividend yields compared to SET and regional peers. ▪ The Sector P/BV is ~20% below its 10-year average, creating valu
Slide 21: Why Thailand, Why Thai Banks, Why ttb
1 2 3 Why Thailand Why Thai Banks Why ttb Upside Opportunities Resilient Thai Banking Industry Offering a combination of stability, 21 capital discipline and returns
Slide 22: At ttb, we commit to delivering quality growth and shareholder value
At ttb, we commit to delivering quality growth and creating shareholder value. 22
Slide 23: Shareholder value, Our Strengths, Sustainability
1 Shareholder value a. One of the largest buyback program in Thai banking b. High dividend yield c. Valution upside back by strong capital 2 Our Strengths a. Improving financial performance b. Clean B/S with sufficient risk cushion c. Strong market position to drive future growth d. Reinventing busi
Slide 24: Effective capital allocation to optimize shareholder value
1 Effective capital allocation to optimize shareholder value through a balance between immediate returns and long-term reinvestments Immediate returns Long-term reinvestments Dividend payout ratio Digital & IT investments (THB bn) 60% 60% Capital allocations 55% 5.9 50% 5.5 43% 43% 4.8 4.4 35% 4.4 3
Slide 25: Robust capital level provides room to drive shareholder return
1 Robust capital level provides ample rooms to drive shareholder return TTB is well-positioned to deliver superior returns and sustainable value creation to our shareholders through various initiatives, supported by ▪ Robust capital level, current CET1 at ~18% VS comfortably above the internal targe
Slide 26: Attractive valuation and total shareholder return
1 Attractive valuation and total shareholder return ▪ Given strong fundamentals and capital robustness, the current valuation does not fully reflect true value or future potentials of Thai banks. ▪ Among D-SIBs, ttb ranks as the 2nd highest DPR stock with THB 21 bn share repurchase program over 2025
Slide 27: Our Strengths
1 Shareholder value a. One of the largest buyback program in Thai banking b. High dividend yield c. Valution upside back by strong capital 2 Our Strengths a. Improving financial performance b. Clean B/S with sufficient risk cushion c. Strong market position to drive future growth d. Reinventing busi
Slide 28: Transformation journey towards the most recommended bank of choice
Transformation journey towards the most recommended bank of choice TBANK Auto lending Leader Ready to take off for TMB better performance and Launch of new ttb shareholder value creation Top performing deposit franchise Touch / Biz One and setup of ttb Spark Integration of 2 banks Financial closing
Slide 29: Improvement pathway of key business drivers: 2018-24
2 a Improvement pathway of key business drivers: 2018-24 Before 2019 2019-2021 2022-2024 Pre-merger Merger & Integration Integration Covid-19 Pandemic Completion 61% 31% Moving towards Before % Retail retail banking After Optimized 8% loan structure % SMEs 29% ▪ Sub-scale medium- ▪ D-SIB bank with s
Slide 30: Financial deliverables in 9M25
2 a Financial deliverables in 9M25 Net profit (THB bn) Income (THB bn) 9M25 Key Performance Drivers 80 -2% YoY 70 60 -6% YoY 50 40 71.0 Loan -3.5% YTD 30 65.9 69.4 25 +13% 20 49.2 Target Approx. 0%-2% 10 0 Deposit -4.4% YTD 20 +31% OPEX (THB bn) & C/I Ratio In line with loan growth Target 45% 44% 44
Slide 31: Clean balance sheet with sufficient risk cushion
2 b Clean balance sheet with sufficient risk cushion Prudent risk management is always one of our priorities with aims to keep balance sheet clean and preserve the Bank’s fundamentals for future growth. During Covid-19 pandemic, we lifted provision level to absorb the Covid-19 impact by utilizing th
Slide 32: Optimized loan portfolio, strengthening position towards retail lending
2 c Optimized loan portfolio, strengthening position towards retail lending After the merger, ttb has more completed product suites and strengthens our position towards retail lending spaces. ✓ House-keeping early in our journey to stay focus and to handle legacy issue in SME portfolio: SMEs portfol
Slide 33: Strong presence in car, home and payroll market
2 c Strong presence in car, home and payroll market, setting stage for opportunities to optimize growth and risk-adjusted returns ttb’s loan portfolio maintains a lower share of high-yield products than peers, creating room for disciplined expansion in targeted retail segments. Building on our enlar
Slide 34: Leading deposit franchise with unique value proposition
2 c Leading deposit franchise with unique value proposition As the first Thai bank to waive transactional fees and to introduce innovative products such as hybrid deposits, ttb has established a unique value proposition, becoming one of the leading deposit franchises in Thailand and narrowing the ga
Slide 35: ttb's strategic intent and aspirations
2 d ttb’s strategic intent and aspirations Recap: Recap:governing the Bank’sthoughts strategicon the bank’s direction intent Our long-term aspirations ▪ Optimize for return while maintaining economy of scale gained thru the merger. • Top-quartile ROE of >10% ▪ Increasingly shift loan mix towards ret
Slide 36: Strong digital transactions momentum
2 d Strong digital transactions’ momentum well-maintained in financial, non-financial transaction and sales Financial transaction Non-financial transaction Digital sales Channel mix of all financial Deposit % Digital Deposit account opening (’000 accounts) transactions % Others 2% 2% 2% 42% 56% 68%
Slide 37: My Credit widget transforms how ttb lends
2 d “My Credit” widget continues to transform how ttb lends as a bank and accelerate sales momentum via digital Confirm personal Receive Digital Booking % Digital Select Info + grant pre-approve objective e-NCB consent credit offer Automotive lending (Unit) Personal loan (Unit) 4% 54% 58% 58% 71% 74
Slide 38: Reduction in customer contacts across physical touchpoints
2 d With on-going expansion of digital migration, continuing reduction in customer contacts across all physical touchpoints Branch Contact Center Traffic at branch Contact center volume (’000 customers) (Mn calls) -9% (YoY) Reduction in card -20% activation request 0.86 0.78 -9% -24% (YoY) 0.74 Requ
Slide 39: ttb Enterprise staff-assisted platform
2 d ttb Enterprise; Staff-assisted platform with seamless omni-channel capabilities, uplifting experiences and efficiencies Strategic intent: Better customer experience • Completed nation-wide roll-out to all given faster turnaround time branches in July 2025 and seamless omni-channel - 50% penetrat
Slide 40: Data-driven hyper-personalization engine
2 d Data-driven hyper-personalization engine is our tools to become customer centric and achieve richer engagement with customers Impressions millions 95 17% 3Q24 3Q25 Views millions 15 27% 3Q24 3Q25 Clicks millions 3 29% 3Q24 3Q25 40
Slide 41: Gamification and status tiers to engage customers
2 d Gamification and status tiers as additional tools to better engage customers along their life cycles to ultimately win main bank relationship Unique customers participated in Customer status tiers Gamification mission >1.1mn Total AUM Uplift from wealth mission (THB) >14bn Customers moved up in
Slide 42: Cost discipline through digitalization and branch optimization
2 d Cost discipline through digitalization and branch optimization Digital migration Branch rationalization through new capabilities and foundation focused on targeted in-person sales and staff productivity uplift Digital share of financial transactions (%) Number of branch -52% 91% 93% 82% 894 733
Slide 43: Ecosystem-led value creation
2 d Ecosystem-led value creation 43
Slide 44: Homeowner ecosystem
2 d Homeowner ecosystem – Enriching homeowners' relationships through lifetime solutions via My Home and our ecosystem partners My Home Refinance & Retention Credit Card Spending of ttb home-loan customer ~ 50% holds ttb credit card +20% YoY retention rate growth ▪ Bill management with home members
Slide 45: Car owner ecosystem
2 d Car owner ecosystem – Deepening engagement with car owners through digital platforms My Car Roddonjai ~2mn >1mn Visits to My Car (3Q25) Unique monthly visitors (3Q25) > 1mn >114k Cars onboarded Cars listed > 81k ~50% Easy pass registered of sold cars are financed with ttb Motor insurance via My
Slide 46: Salaryman ecosystem
2 d Salaryman ecosystem – Broadening digital solutions for both employers and employees Payroll Engagement & Well-being my work by ttb > 8.5k > 1,500 Total company acquired Total payroll companies Companies onboarded 16% QoQ 132% YoY ~ 1mn > 430 Total payroll employees Companies converted to > 490k
Slide 47: Wealth ecosystem
2 d Wealth ecosystem – Maximizing and growing wealth through suits of wellness products and solutions Wealth Customer Savings – Retail FCD1/ Wellness Investment3/ >900 ▪ Easy account >75% Private banking management Of Private banking customer acquired via ttb touch customers hold investment As of Se
Slide 48: Ecosystem-led approach drives stronger customer engagement
2 d An ecosystem-led approach drives stronger customer engagement, especially through digital channels % Digital Active Average no. of product holding +17- 30% >1.5 - 3.3x 64% 1.39 Non-ecosystem Non-eco Home Car Salary Wealth Mid-corp Non-ecosystem Non-eco Home Car Salary Wealth Mid-corp customer cu
Slide 49: Business enhancement with strategic partnership
2 d Business enhancement with strategic partnership ttb x Disney ttb x LINE MAN Wongnai Asia’s first co-branded card offering both debit and credit > 110k Debit & credit card Implemented in Oct’24 Launched in Feb’25 issued since launched Elevating integrated > 1,700mn payment solutions via Spending
Slide 50: Thanachart Securities: Unlocking wealth ecosystem capabilities
2 d Thanachart Securities: Unlocking wealth ecosystem capabilities Group structure Business strategy • Completion of the transaction by 1 July 2025, with the • Completed suite of investment products through the transaction value THB 2,062 mn arm of securities business for cross-selling to ttb’s weal
Slide 51: JV company to build motorcycle leasing business
2 d JV company to build motorcycle leasing business Progress Business strategy • Shareholder Agreement (SHA) signed on 3 November 2025 • More comprehensive product suite to enhance the • The new JV company will become a subsidiary under ttb monetization capabilities of ttb’s ecosystem for lower-inco
Slide 52: Sustainability
1 Shareholder value a. One of the largest buyback program in Thai banking b. High dividend yield c. Valution upside back by strong capital 2 Our Strengths a. Improving financial performance b. Clean B/S with sufficient risk cushion c. Strong market position to drive future growth d. Reinventing busi
Slide 53: B+ESG in action, integrating sustainability into our business
3 B+ESG in action, integrating sustainability into our business Anchored by the B+ESG principle, we strive to integrate sustainability into our business, ensuring that our strategic objectives not only meet short-term goals but also contribute to long-term sustainable growth. Data as of September 20
Slide 54: Our framework on transition finance
3 Our framework on transition finance Assess Analyze Prevent Provide Assess impacts of emerging Analyze clients’ risks to Prevent future impacts through Provide financial solutions for climate regulations to clients categorize them for an transition solutions transition journey engagement approach C
Slide 55: Sustainable financing solutions
3 Sustainable financing solutions Green/Blue Loan Program Solar Rooftop Program EV Fleet/HP Program Sustainable Supply Chain Green Transformation Program Long-term financing to support Credit loan, specially for solar Auto loan, specifically for Encourage suppliers to improve clients in transitionin
Slide 56: ttb Net-zero commitment and strategic directions
3 ttb Net-zero commitment and strategic directions The Bank is committed to achieve net zero emissions in line with Thailand’s commitment by 2065 by empowering customers towards net zero economy 56
Slide 57: Climate action performance and 2026 onwards
3 Climate action performance and 2026 onwards To comply with the new IFRS Disclosure Standards—mandating transparent reporting on climate-related risks, GHG emissions across all scopes, and financial impacts—Four key elements are essential to achieve full regulatory compliance and safeguard against
Slide 58: Disclaimer
Disclaimer: The information in this material is in summary form and does not purport to be complete. No representation or warranty, express or implied, is or should be made concerning, and no reliance should be place on, the accuracy, fairness, or completeness of this information and liability there
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