SAWAD reveals continued growth in Q3/2022, NPL declines, debtor portfolio recovers to reach 50 billion baht : InfoQuest

Ms. Thida Kaewbootta, Director of the Corporate Strategy Department Srisawad Corporation Public Company Limited (SAWAD) said the 3Q22 operating results of the company and its subsidiaries had a net profit of 1,185.63 million baht, an increase of 6.6% compared to the same period last year, net profit of 1,111.60 million baht, with interest income of about 2,307.07 million baht and other income of about 970.84 million baht, total income of 3,277.93 million baht, an increase of 32.93% compared to the same period last year.

However, the growth in income and profit came from the expansion of the company’s credit portfolio at 51,477 million baht, compared to the same period last year, the credit portfolio was 36,986 million baht, reflecting good growth in the second half of the year when loans were made, going on target In addition, it benefited from an improvement in the quality of the Company’s debtors The NPL Ratio fell, leading to a reduction in the allowance for credit losses.

Although the performance for the period of 9 months had interest income of 5,949.89 million baht and other income at 2,594.28, the total income was 8,544.13 million baht, growing 10.57% with good growth income from the expansion of increasing interest income. The net profit was 3,263.19 million baht, a decrease of 8.8% compared to the same period last year.

“The company’s performance in the third quarter continued to grow, resulting in the company’s first nine months hitting its targets. and we are confident that this will grow after this in accordance with the Srisawat Group’s New S Curve plan. It is clear from the loan portfolio that has returned to grow well beyond 50 billion baht. which is an increasing trend after the situation of the cases of COVID and the economic condition has returned to a clear recovery. I believe that the last curve of this year will be a good opportunity for the company to generate good income and profit.” said Miss Thida

According to the plan, the company has accelerated public relations and launched a campaign to support access to credit. to make Srisawat Group products more known It is also accelerating branch expansion to provide customers access to services in all areas. The aim is to expand a total of 5,500 branches. Currently, 5,187 branches are ready to serve, compared to 4,874 branches in the same period last year.

By InfoQuest News Agency (15 Nov ’22)

Tags: SAWAD , Watida Kaewbootta , Srisawat Corporation , Thai stocks

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