TMBThanachart Bank (TTB) Q2 2025 earnings summary

Executive summary

• Net profit for 1H25 was THB 10,100 mn, down 6% YoY, reflecting selective retail loan growth and cost efficiency.

• Business sentiment in 2Q25 remained subdued amid rising uncertainties; focus maintained on balance sheet health and sustainable shareholder value.

• Strategic priorities: selective loan growth, digital transformation, and capital management to address sluggish growth and revenue pressure.

• Total comprehensive income for Q2 2025 reached THB 5,425 million, up from THB 4,807 million in Q2 2024.

• Total assets as of June 30, 2025, stood at THB 1,709,797 million, a decrease from THB 1,748,523 million at year-end 2024.

Financial highlights

• 1H25 net profit: THB 10.1 bn (-6% YoY); NIM at 3.13% within guidance; C/I ratio at 43.7%.

• Net interest income for Q2 2025 was THB 12,742 million, down from THB 14,185 million in Q2 2024; for six months, THB 25,961 million, down from THB 28,581 million YoY.

• Loan growth: -2.8% YTD; deposit growth: -3.0% YTD; non-NII up 7.9% YoY (excluding BA amortization: -3%).

• Expected credit loss for Q2 2025 was THB 4,294 million, down from THB 5,281 million in Q2 2024; for six months, THB 8,874 million, down from THB 10,397 million YoY.

• Total operating income in 2Q25: THB 17.1 bn (-1% QoQ, +14% YoY); non-NII up 14% YoY.

Outlook and guidance

• FY2025 targets: loan growth 0–2%, deposit growth in line with loans, NIM 3.10–3.25%, C/I ratio in low 40s, credit cost 125–135 bps (normal).

• Committed to high dividend payout and share repurchase to protect shareholder value amid market volatility.

• Conservative stance maintained with THB 1.3 bn management overlay in 2Q25 as buffer against economic risks.