TISCO Financial Group Public Company (TISCO) Q2 2024 earnings summary

Executive summary

• Net profit for Q2 2024 was THB 1,753 million, down from THB 1,854 million in Q2 2023; H1 2024 net profit was THB 3,486 million, down from THB 3,647 million year-over-year.

• Total assets as of 30 June 2024 were THB 280.6 billion, a decrease from THB 290.7 billion at year-end 2023.

• The auditor's review found no material misstatements in the interim financial information.

Financial highlights

• Q2 2024 total operating income was THB 4,937 million, up from THB 4,680 million in Q2 2023; H1 2024 total operating income was THB 9,640 million, up from THB 9,286 million year-over-year.

• Net interest income for H1 2024 was THB 6,783 million, up from THB 6,579 million year-over-year.

• Expected credit loss for H1 2024 rose sharply to THB 680 million from THB 91 million in H1 2023.

• Basic EPS for H1 2024 was THB 4.35, down from THB 4.55 in H1 2023.

• Dividend payment of THB 5.75 per share (THB 4,602 million) was made in May 2024.

Outlook and guidance

• The company maintains a strong capital position, with a total capital adequacy ratio of 18.75% as of 30 June 2024, well above regulatory requirements.

• No significant impact from revised financial reporting standards effective 2024.