Tisco Financial Group Public Co. Ltd. · SET:TISCO
Tisco Financial Group Public — Q3 2024 Earnings Presentation
19 slides from Tisco Financial Group Public's earnings presentation, Oct 15, 2024
Slide 1: TISCO Financial Group Analyst Meeting 3Q2024
TISCO Financial Group Public Co., Ltd. Analyst Meeting 3Q2024 October 15, 2024 TISCO Financial Group | Analyst Meeting
Slide 2: Profit decreased due to stepping up ECL expense while fee-based businesses started to recover
Profit decreased due to stepping up ECL expense while fee-based businesses started to recover Consolidated Income Statements Unit : Million Baht 3Q23 2Q24 3Q24 % QoQ % YoY 9M23 9M24 % YoY Interest Income 4,602 4,744 4,749 0.1 3.2 13,006 14,267 9.7 Interest Expenses (1,110) (1,357) (1,364) 0.5 22.9 (
Slide 3: Well-managed balance sheet amid high-risk environment
Well-managed balance sheet amid high-risk environment Assets Liabilities Unit: Million Baht Unit: Million Baht -1.1% -4.5% -1.3% -4.9% QoQ YTD QoQ YTD Unit : Million Baht 2023 2Q24 3Q24 % QoQ % YoY Unit : Million Baht 2023 2Q24 3Q24 % QoQ % YoY Loans 234,815 233,448 229,948 (1.5) (2.1) Deposits & Bo
Slide 4: Loan contraction from a slowdown in HP business, as well as loan repayment in corporate and SME segments
Loan contraction from a slowdown in HP business, as well as loan repayment in corporate and SME segments Loan Portfolios Unit: Million Baht -1.5% -2.1% Retail Loans QoQ YTD -0.8% -2.9% QoQ YTD Corporate Loans -1.8% -0.3% QoQ YTD Loans by sectors SME Loans -8.2% -0.3% QoQ YTD TISCO Financial Group |
Slide 5: HP New car was impacted by sluggish industry car sale while high-yield loans continued to grow
HP New car was impacted by sluggish industry car sale while high-yield loans continued to grow with cautious underwriting Composition of Retail Loans Unit: Million Baht HP New Car HP Used Car HP Auto Cash Housing Loan Other Retail Motorcycle Loans -3.2% QoQ +2.7% QoQ +1.9% QoQ -3.8% QoQ +3.1% QoQ -8
Slide 6: Somwang channel expanded according to the long-term strategy while maintained cautious loan growth
Somwang channel expanded according to the long-term strategy while maintained cautious loan growth Auto Cash Loans Unit: Million Baht Auto Cash +1.9% +3.6% QoQ YTD Somwang +3.5% +9.0% QoQ YTD Loan Generated through Somwang channel Somwang Branches TISCO Financial Group | Analyst Meeting 6
Slide 7: Weak domestic car sale due to tightened underwriting and credit concern from financial institutions
Weak domestic car sale due to tightened underwriting and credit concern from financial institutions Industry New Car Sale TISCO’s Auto HP Penetration Rate TISCO’s Penetration Rate (%) Industry Car Sale (‘000 units) Industry Car Sale -23.9% YoY TISCO Financial Group | Analyst Meeting 7
Slide 8: Cost of funds showed sign of peaking while loan yield gradually increased
Cost of funds showed sign of peaking while loan yield gradually increased along with growth in high yield loans Change Change YoY QoQ Yield on Loans +39 bps +3 bps Loan Spread -42 bps +3 bps NIM -14 bps +0 bps +81 bps +0 bps Cost of Funds Unit: Million Baht 2021 2022 2023 1Q24 2Q24 3Q24 Loan Outstan
Slide 9: NPLs was stable with a focus on debt collection process and proactive NPL management
NPLs was stable with a focus on debt collection process and proactive NPL management 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 TISCO Financial Group | Analyst Meet
Slide 10: Stepping up ECL expense to resume the normalized level in 2025
Stepping up ECL expense to resume the normalized level in 2025, supporting high-yield business growth and against fragile economy 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 -1.5% -5.4% QoQ YTD Unit : Million Baht 2023 2Q24 3Q24 % QoQ % YoY Current 1,529 1,634 1,797 9.9 17.5 Savings 28,988 25,623 26,755 4.4 (7.7) Fixed Deposits 178,128 179,566 176,202 (1.9) (1.1) S
Slide 12: Capital market businesses recovered with better market sentiment, and banking fee improved
Capital market businesses recovered with better market sentiment, and banking fee improved despite the pressure from subdued car sale Non-Interest Income from Core Businesses Non-Interest Income from Core Businesses Breakdown Unit: Million Baht Data as of 9M2024 +0.7% YoY +0.4% +4.8% QoQ YoY Unit :
Slide 13: AUMs grew thanks to increased contributions, new fund issuances and improved market conditions
AUMs grew thanks to the increased contributions, new fund issuances and improved market conditions. Assets Under Management Unit: Million Baht Rank # 1 +1.7% +4.0% Provident Fund QoQ YTD +3.9% +7.4% QoQ YTD Rank #14 Mutual Fund +6.7% +8.0% QoQ YTD Rank #9 Rank #6 *Remark: Market shares and rankings
Slide 14: TISCO's trading volume increased along with the market trading volume and improved market share
TISCO’s trading volume increased along with the market trading volume and improved market share TISCO Trading Volume & Market Share Unit: Million Baht Trading Volume by Customers TISCO Financial Group | Analyst Meeting 14
Slide 15: OPEX was well-controlled during weak economic environment
OPEX was well-controlled during weak economic environment Operating Expenses Unit: Million Baht Cost to Income Ratio -1.1% YoY -2.7% -1.6% QoQ YoY Unit : Million Baht 3Q23 2Q24 3Q24 % QoQ % YoY 9M23 9M24 % YoY Empl oyee Expens es 1,611 1,579 1,541 (2.4) (4.4) 4,784 4,656 (2.7) Premi s es & Equi pmen
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: Continued to expand Somwang staff and network as a part of TISCO's long-term plan
Continued to expand Somwang staff and network as a part of TISCO’s long-term plan Total Employees Number of Employees Total Branch Network Somwang Loan Offices Bank Branches TISCO Financial Group | Analyst Meeting 17
Slide 18: 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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