Thai Military Bank Reports 10.7B Baht Half-Year Profit
Thai Military Bank posted 10.7 billion baht in first-half 2024 profit with stable asset quality, completing an accelerated 21 billion baht share buyback program ahead of schedule.
Thai Military Bank (TTB) reported first-half 2024 net profit of 10.683 billion baht, with second-quarter earnings of 5.513 billion baht, reflecting operational performance in line with targets despite ongoing economic uncertainty. Asset quality remained solid with non-performing loans stable at 2.93%, while the reserve coverage ratio increased to 157%. The bank accelerated its share buyback program, completing 21 billion baht in repurchases by June 2024—one year ahead of the original three-year schedule—and expressed confidence in maintaining high, sustainable dividend payments. TTB emphasized focus on high-yield small business lending growth, digital capabilities to support product innovation and cost reduction, and risk-based pricing mechanisms to assist borrowers affected by economic conditions. Six-month pre-provision operating profit stood at 18.382 billion baht, nearly matching the prior year's 18.566 billion baht, while credit costs of 136 basis points reflected cautious reserve provisioning amid economic uncertainty.
