TMB’s Profit Falls Short by 30% in 1Q19 as Non-Interest Income Plunges 32%

TMB Bank Public Company Limited (TMB) has reported its 1Q19 financial statement through the Stock Exchange of Thailand as follows:

TMB reported a net profit in 1Q19 at THB 1,579 million, decreased by 7.2% QoQ and 30.7% YoY. Provisions for bad debt and doubtful accounts and impairment loss of debt securities for 1Q19 was THB1,839 million, compared with THB 2,030 million in 4Q18 and THB 2,305 million in 1Q18.

The Bank posted THB 2,280 million of non-interest income in 1Q19, a decrease of 12.9% from last quarter (QoQ) and 32.0% from the 1st quarter last year (YoY)

TMB recorded THB 6,236 million of the net interest income (NII) in 1Q19, relatively stable when compared to the previous quarter (QoQ) and 3.4% increase from the same period last year (YoY)

As of 31 March 2019, non‐performing loans (NPLs) on a consolidated basis was reported at THB 21,832 million which increased from THB 21,720 million as of end December 2018. NPLs on a bank-only basis amounted to THB 21,790 million also rose when compared with, 674 million at the end of 2018.

NPL ratio on consolidated basis was recorded at 2.81%, compared with 2.76% at the end of 2018. Meanwhile, NPL ratio on bank-only basis stayed at 2.80%, compared with 2.76% as of 31 December 2018.