Tisco Bank Pcl (Thailand)

TISCO Bank and its subsidiaries operate two main businesses : Commercial banking business and Securities business which offer various kinds of financial services in order to satisfy customers need. The Bank and its subsidiaries recorded net profit of 1,651.11 million Baht, increased by 105.58 million Baht (6.8% YoY) mainly from continuous growth in core businesses especially hire-purchase business together with improvement in loan spread.¶Loan spread strongly increased from 3.1% to 3.5% YoY as the Bank managed to maintain loan yield by increasing used-car portion in hire-purchase portfolio from the second quarter onwards. Meanwhile, cost of fund declined following declining market interest rates. Non-interest income increased by 6.6% YoY following continuous business expansion in most areas including bancassurance business while asset management business was very successful in terms of growth of asset under management and higher management fee. For Future Project the bank expects to open 10-15 branches nationwide, in order to extend coverage and enchance service quality.