AMANAH Reports a Net Profit of ฿79Mn in 1Q, Up 9% YoY

Amanah Leasing Public Company Limited (AMANAH) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

As for the operating result, in 1Q21 the company produced a profit of 79.31 million baht. This profit figure was a new high since the start of the new business plan in 2Q15. The profit in 1Q21 was higher than the profit in 4Q20 by 2.22 million baht, 2.88% higher. Comparing to the same quarter of last year (YoY), the profit of 1Q21 had increased by 6.87 million baht, or 9.49% increase. The factors that contributed to the continued increase in quarterly profits were as follows:

 

The revenue from hire-purchase had increased, resulting from the continuation of new lending despite some degree of impact from a downward adjustment in revenue according to the lower new effective rates for the accounts under the debt repayment suspension program conducting during 2Q20. 

 

The provision for loan loss in 1Q20 was 17.74 million baht, lower than the previous quarters by 6.41 million baht. This 17.74 million baht provision was also lower than other quarters in the past.