Tisco Financial Group Public Co. Ltd. · SET:TISCO
Tisco Financial Group Public — Q1 2025 Earnings Presentation
21 slides from Tisco Financial Group Public's earnings presentation, Apr 17, 2025
Slide 1: TISCO Financial Group Analyst Meeting 1Q2025
TISCO Financial Group Public Co., Ltd. Analyst Meeting 1Q2025 April 17, 2025 TISCO Financial Group | Analyst Meeting
Slide 2: Net profit decreased due to decreasing net interest income and higher ECL expense
Net profit decreased due to decreasing net interest income and higher ECL expense Consolidated Income Statements Unit : Million Baht 1Q24 4Q24 1Q25 % QoQ % YoY Interest Income 4,774 4,746 4,589 (3.3) (3.9) Interest Expenses (1,378) (1,345) (1,261) (6.3) (8.5) Net Interest Income 3,395 3,402 3,328 (2
Slide 3: Well-managed balance sheet to reflect the economic situations
Well-managed balance sheet to reflect the economic situations Assets Liabilities Unit: Million Baht Unit: Million Baht +0.1% -0.6% QoQ QoQ Unit : Million Baht 2023 2024 1Q25 % QoQ Unit : Million Baht 2023 2024 1Q25 % QoQ Loans 234,815 232,200 231,190 (0.4) Deposits & Borrowings 220,891 211,973 210,4
Slide 4: Loan contraction caused by weak auto market and cautious lending policy
Loan contraction caused by weak auto market and cautious lending policy amid slow economic growth Loan Portfolios Unit: Million Baht -0.4% Retail Loans QoQ -0.7% QoQ Corporate Loans +1.3% QoQ Loans by sectors SME Loans -5.4% QoQ TISCO Financial Group | Analyst Meeting 4
Slide 5: Weak industry car sale continued to pressure HP new car
Weak industry car sale continued to pressure HP new car, whereas Auto Cash new underwriting was more cautious and selective Composition of Retail Loans Unit: Million Baht HP New Car HP Used Car HP Auto Cash Housing Loan Other Retail Motorcycle Loans -1.8% QoQ +1.5% QoQ -0.8% QoQ -3.4% QoQ +4.9% QoQ
Slide 6: Despite Auto Cash loan contraction, Somwang growth was driven by branch efficiency
Despite Auto Cash loan contraction, Somwang growth was driven through increasing existing branch efficiency Auto Cash Loans Unit: Million Baht Auto Cash -0.8% QoQ Somwang +2.8% QoQ Loan Generated through Somwang channel Somwang Branches TISCO Financial Group | Analyst Meeting 6
Slide 7: This year domestic car sale has not yet recovered amid credit quality concerns
This year domestic car sale has not yet recovered amid concerns on credit quality and weak economy Industry New Car Sale TISCO’s Auto HP Penetration Rate TISCO Financial Group | Analyst Meeting 7
Slide 8: Yield on loans dropped following BOT's rate cut and interest reduction
Yield on loans dropped following BOT’s rate cut and “You Fight, We Help” interest reduction, while cost of funds repriced gradually Change Change YoY QoQ Yield on Loans +26 bps -11 bps Loan Spread -23 bps +1 bps NIM -10 bps -5 bps Cost of Funds +49 bps -12 bps Unit: Million Baht 2022 2023 2024 4Q24
Slide 9: NPLs increased from high-yield portfolio expansion and slow economic recovery
NPLs increased from high-yield portfolio expansion and slow economic recovery, however remained within controllable range Loan Classification Non-Performing Loans Unit: Million Baht Unit: Million Baht NPLs Stage 2 Stage 1 NPLs by Loan Types Mortgage Auto Cash Hire Purchase SME Other Retail Corporate
Slide 10: ECL expense increased gradually reflecting cautious underwriting strategy
ECL expense increased gradually reflecting cautious underwriting strategy and controllable asset quality Expected Credit Loss Unit: Million Baht Allowance for ECL Unit: Million Baht Coverage Ratio Expected Credit Loss (ECL) TISCO Financial Group | Analyst Meeting 10
Slide 11: Efficiently managed funding base to align with loan portfolio contraction
Efficiently managed funding base to align with loan portfolio contraction Total Funding Unit: Million Baht -0.7% QoQ Unit : Million Baht 2023 2024 1Q25 % QoQ Current 1,529 1,793 1,628 (9.2) Savings 28,988 26,923 27,172 0.9 Fixed Deposits 178,128 177,821 177,620 (0.1) Short-Term Bill of Exchanges 36
Slide 12: Banking fee remained subdued while asset management continued to improve
Banking fee remained subdued due to a slowdown in auto market, whereas asset management business continued to improve Non-Interest Income from Core Businesses Non-Interest Income from Core Businesses Breakdown Unit: Million Baht Data as of 3M2025 -4.7% +2.4% QoQ YoY Unit : Million Baht 1Q24 4Q24 1Q2
Slide 13: AUMs declined following volatile capital market, AM fee improved
AUMs declined following volatile capital market, however AM fee improved from new mutual fund issuances. Assets Under Management Unit: Million Baht Rank # 1 -1.9% Provident Fund QoQ -1.7% QoQ Rank #13 Mutual Fund -0.4% QoQ Rank #9 Rank #7 Private Fund -4.6% QoQ *Remark: Market shares and rankings as
Slide 14: TISCO's trading volume increased thanks to improvement in market share
TISCO’s trading volume increased despite lower market trading volume thanks to an improvement in market share TISCO Trading Volume & Market Share Unit: Million Baht Trading Volume by Customers TISCO Financial Group | Analyst Meeting 14
Slide 15: OPEX was efficiently controlled amidst slow economic growth
OPEX was efficiently controlled amidst slow economic growth Operating Expenses Cost to Income Ratio Unit: Million Baht -4.4% -0.9% QoQ YoY Unit : Million Baht 1Q24 4Q24 1Q25 % QoQ % YoY Empl oyee Expens es 1,537 1,553 1,530 (1.5) (0.4) Premi s es & Equi pment Expens es 207 198 215 8.9 3.7 IT Expens
Slide 16: Maintained solid capital level and exceeded BOT's requirement
Maintained solid capital level and exceeded BOT’s requirement Capital Base of TISCO Bank Unit: Million Baht Capital Adequacy Ratio BIS Ratio Tier I Ratio Min. Required by BOT 11.0% BIS Ratio 8.5% Tier I Ratio *Projected figures TISCO Financial Group | Analyst Meeting 16
Slide 17: No new Somwang branch opening but focusing on existing branch efficiency
No new Somwang branch opening but focusing more on increasing existing branch efficiency Total Employees Total Branch Network Somwang Loan Offices Bank Branches TISCO Financial Group | Analyst Meeting 17
Slide 18: "You Fight, We Help" Debt Restructuring Program
“You Fight, We Help” Debt Restructuring Program Registration Timeline: 12 December 2024 – 30 April 2025 Criteria Amount Program offerings: Housing Loans < 5,000,000 Baht ▪ Interest rate suspension for 3 years Car HP & Car Title Loans < 800,000 Baht Source of Fund ▪ Installment reduction by Motorcycl
Slide 19: Credit rating upgrade of TISCO and TISCO Bank
Credit rating upgrade of TISCO and TISCO Bank TRIS Rating (“TRIS”) upgraded the company rating of TISCO Bank and TISCO by +1 notch from "A" and "A-" to "A+" and "A" with a stable outlook. TRIS also assigned a rating of “A-” to the proposed issue of TISCO Bank subordinated debenture amounting up to 1
Slide 20: Investor Relations
Investor Relations TISCO Financial Group Public Company Limited 48/49 TISCO Tower, North Satorn Road, Silom, Bangrak, Bangkok, 10500, Thailand +(66) 2633 6868 +(66) 2633 6855 ir@tisco.co.th www.tisco.co.th Disclaimer This presentation material may contain forward-looking statements. These forward-lo
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