Tidlor Holdings Public Company Limited (SET: TIDLOR) reported solid financial results for the third quarter of 2026, posting a net profit of THB 1,488.2 million, up 5.8% YoY from THB 1,406.4 million in 3Q25. The earnings growth was propelled by steady expansion across both lending and insurance brokerage businesses, lower borrowing costs, and disciplined asset quality management.
Total revenue for the quarter rose 7.6% YoY to THB 6,379.6 million, compared to THB 5,927.7 million in 3Q25. Top-line growth was led by interest income, which climbed 7.2% YoY to THB 5,266.1 million, driven by a 7.3% gain in interest income on loans to THB 4,965.2 million. Concurrently, fee and service income jumped 13.6% YoY to THB 1,072.7 million.
Non-life insurance premiums rose 11.4% YoY to THB 2,903 million, supported by multi-channel distribution through Shield Insurance, Areegator, and heygoody.
Profitability benefited significantly from lower funding costs. Finance expenses fell 9.5% YoY to THB 583.9 million as TIDLOR’s cost of funds dropped to 2% from 2.4% in 3Q25. With yield on loans holding flat at 18.4%, the group’s net interest margin widened to 16.4% from 16% a year earlier.
Service and administrative expenses rose 11.8% YoY to THB 3,269.1 million due to ongoing branch network expansion and technology investments, bringing the cost-to-income ratio to 56.4%.
TIDLOR’s total loan portfolio reached THB 116,011.2 million, up 8.1% YoY and 3.1% QoQ, supported by a 7% YoY increase in lending customers across 1,940 branches and digital platforms.
On credit risk, the non-performing loan ratio improved to 1.63% from 1.66% in 3Q25. Credit losses rose 11.7% YoY to THB 655.8 million, lifting credit costs slightly to 2.3% from 2.2%. However, expected credit loss allowances totaled THB 5,754 million, maintaining a strong NPL coverage ratio of 304.9%.
