TISCO Financial Group Public Company (TISCO) Q4 2023 earnings summary

Executive summary

• FY23 profit attributable to equity holders was Bt7,301,113 thousand versus Bt7,224,078 thousand in FY22; basic EPS was Bt9.12 versus Bt9.02.

• Net interest income rose to Bt13,828,642 thousand from Bt12,733,632 thousand, while net fee and service income eased to Bt4,867,487 thousand from Bt5,045,649 thousand.

Financial highlights

• Total operating income was Bt19,045,793 thousand versus Bt18,304,782 thousand; operating expenses were Bt9,340,444 thousand versus Bt8,590,844 thousand.

• Profit before tax was Bt9,089,997 thousand versus Bt8,991,261 thousand; income tax expense was Bt1,788,395 thousand versus Bt1,766,722 thousand.

• Expected credit loss expense was Bt615,352 thousand versus Bt722,677 thousand; net fair-value instrument loss was Bt29,164 thousand versus a gain of Bt86,420 thousand.

• Loan interest income was Bt17,110 million, representing 90% of total income; interest income on credit-impaired assets was Bt549 million, fully provided for through expected credit loss.

Segment performance

• Commercial banking and lending recorded Bt16,884 million in external revenue and Bt7,220 million in segment profit before tax in FY23.

• Asset management recorded Bt1,623 million in external revenue and Bt860 million in segment profit before tax; securities recorded Bt619 million and Bt100 million, respectively.

• Consolidated segment assets were Bt290,724 million at 31 Dec 2023, versus Bt265,414 million at 31 Dec 2022.