SCB X Public Company Limited (SET: SCB) has announced its 3Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
In the third quarter of 2025, SCBX posted a net profit of Baht 12.1 billion, representing a 10.2% YoY increase. The YoY improvement was driven by higher investment gains from both the Bank’s and SCB 10X’s portfolios, stronger fee income—especially from wealth management business—and disciplined cost control. These positive factors partly offset the impact of softer net interest income, driven by lower NIM and declining loan growth.
In 3Q25, net interest margin (NIM) declined by 47 basis points yoy to 3.44%, primarily due to lower yields across key asset categories—interbank yields dropped by 82 basis points, loan yields by 49 basis points, and investment yields by 16 basis points. These declines reflected the impact of four policy rate cuts implemented in October 2024, February 2025, April 2025, and August 2025, as well as the “You Fight We Help” program.
Additionally, expected credit losses declined YoY to Baht 10,823 million, equivalent to 182 basis points of total loans. The decrease yoy was primarily driven by lower credit costs at CardX, although AutoX experienced an increase in credit costs during the same period.
The wealth management business sustained strong momentum into 3Q25, driven by robust demand for high-value investment products, favorable market conditions, and proactive advisory services. This performance reflects the successful foundation laid to scale up the wealth segment’s capabilities, particularly in enhancing Relationship Manager (RM) productivity and advisory quality. Strategic initiatives included the development of a more globally integrated wealth platform, which enabled more sophisticated product offerings and improved client engagement. RM productivity saw notable improvement through enhanced collaboration between RMs and branch networks.
Loan volumes contracted by 3.3% YoY, 2.1% ytd and 1.7% QoQ from both Gen 1 and Gen 2 businesses, in line with the Company’s prudent strategy to preserve credit quality. While growth remains selective, management continues to assess market dynamics and is prepared to adjust lending pace as conditions stabilize.
Asset quality remained broadly stable in 3Q25, with the NPL ratio at 3.30% compared to 3.31% in 2Q25, and new NPL formation broadly in line with the previous quarter. Retail and SME new NPLs at the Bank declined QoQ, supported by improved collection efficiency and the proactive “You Fight, We Help” program, while Gen 2 NPLs also fell QoQ, driven mainly by improvements at CardX.
In line with its prudent provisioning policy, the Company allocated an additional Baht 1,400 million in Management Overlay (MO) this quarter, bringing total top-ups to Baht 3.0 billion for 9M25, reinforcing resilience against potential downside risks, including a soft domestic economy and follow-on impact from U.S. trade tariffs. As of September 30, 2025, Phase 1 and 2, Measure 1 of the “You Fight, We Help” program accounted for 51% of eligible and signed loans, totaling Baht 66 billion.
