TISCO Posts 5.3 Billion Baht Profit as EV Loans Surge
TISCO reported a net profit of 5.3 billion baht for the first nine months of 2026, up 5.7% year-on-year, driven by strong growth in electric vehicle loans. The group's performance was supported by all core businesses, prudent risk management, and a solid financial position, highlighted by an NPL coverage ratio of 192.5%. CEO Sakchai Peekaphat noted Thailand's gradual economic recovery, backed by exports, domestic stimulus, and a rebounding tourism sector, while cautioning about global uncertainties.
TISCO announced a profit of 5.3 billion baht, driven by strong growth in EV loans. For the first nine months of 2026, the group reported net profit of 5,302 million baht, up 5.7% year-on-year, with Q3 net profit at 1,805 million baht, up 4.3% from the same quarter last year. Growth came from all core businesses alongside prudent risk management, maintaining strong asset quality and financial position, highlighted by a high NPL coverage ratio of 192.5%. CEO Sakchai Peekaphat said Thailand's economy in Q3 2026 is gradually recovering, supported by exports, domestic consumption boosted by the 'Thai Helps Thai Plus' measures, and a recovering tourism sector. The auto market shows continued positive signals, especially rising EV popularity. However, global economic volatility and uncertainties, including Middle East conflicts, rising US bond yields, and climate risks from flooding, remain closely monitored. TISCO continues to pursue sustainable growth, focusing on quality growth while managing costs and resources efficiently. As a result, the nine-month 2026 performance delivered net profit of 5,302 million baht, up 5.7% year-on-year, translating to a return on average equity (ROAE) of 16.4%. Third-quarter net profit reached 1,805 million baht, up 4.3% year-on-year. The growth was supported by several core businesses: loan expansion remained strong, driven by business loans and hire-purchase loans for new vehicles, aligned with recovering economic activity and rising demand for electric vehicles (EVs), which also positively impacted related insurance brokerage businesses. Wealth Management grew notably through its Open Architecture Platform, offering clients access to a wide range of funds and investments from top fund managers. Securities and securities fund management businesses benefited from higher trading values in the capital market, while the provident fund business continued to hold its industry leadership, boosting fee income and long-term revenue generation capacity. Asset quality and financial strength remained solid, with careful risk management and provisioning improving the non-performing loan (NPL) ratio to 2.0% and maintaining an NPL coverage ratio of 192.5%, reflecting adequate reserves for future risks. The BIS ratio stood at 20.1%, underscoring financial resilience, capacity to absorb economic volatility, and potential for future business expansion. Looking ahead, TISCO will continue its sustainable growth strategy, emphasizing quality growth, cost control, and efficient resource use.
