TMBThanachart Bank (TTB) Q4 2025 earnings summary

Executive summary

• Delivered resilient performance in 2025 despite global and domestic headwinds, including economic slowdown, high household debt, and natural disasters.

• Net profit reached THB 20,639 million, down 2% YoY, with effective asset-liability management and cost discipline.

• Maintained portfolio quality with Stage 2 loans down 8% YTD, stable NPL at THB 39 billion, and strong coverage ratio at 152%.

• Launched a 3-year share buyback program and maintained one of the highest dividend payout ratios in the industry.

• Total assets decreased to 1,701,965,779 thousand Baht as of December 2025 from 1,748,522,500 thousand Baht in December 2024.

Financial highlights

• Net profit for 2025 was THB 20.6 billion, a 2% decrease YoY.

• Net interest income for 2025 was 50,636,764 thousand Baht, down from 56,451,644 thousand Baht in 2024.

• Net fees and service income rose to 10,208,819 thousand Baht from 9,373,370 thousand Baht year-over-year.

• Non-NII grew 16% YoY, driven by fee income diversification, especially in wealth, bancassurance, and credit cards.

• Loan growth was -2.9% YTD, deposit growth -4.4% YTD, reflecting cautious balance sheet management.

Outlook and guidance

• 2026 targets: loan growth approx. 0–2%, deposit growth in line, NIM 3.0–3.10%, single-digit non-NII growth, C/I ratio in mid-40s, Stage 3 loans ≤3.2%, and credit cost 130–135 bps.

• Continued focus on quality growth, digital scaling, and proactive risk management.

• Comprehensive income growth driven by gains on investments in equity instruments at fair value.