TISCO 2Q Earnings Beat Consensus with 11% Growth, Support by Consumer Loans

Tisco Financial Group Public Company Limited (SET: TISCO) has announced its 2Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2Q22 2Q22
Net Profit (Loss)
Million Baht
1,848.43 1,666.06
Earning Per Share
2.3100 2.0800
% Change 10.95
6 Months 2022 2021
Net Profit (Loss)
Million Baht
3,643.92 3,429.68
Earning Per Share (Baht) 4.5500 4.2800
% Change 6.25

TISCO reported a net profit of 1,848 million baht in 2Q22, increased 10.95% from a net profit of 1,666 million baht. The growth was mainly contributed by an expansion in consumer loans especially Auto Cash loans via “Somwang” channels aligning with branch expansion strategy. Moreover, bancassurance business recovered well by 20.2% (YoY) following an increase in new business volume.

Expected credit loss (ECL) remained low at 0.3% of average loans, in line with a well-controlled asset quality with reported NPL ratio at 2.20% of total loans. Additionally, the risk from COVID-19 pandemic has reduced in tandem with the improvement in the outbreak situation. Loan loss coverage ratio remained strong at 253.1%.


TISCO’s 2Q22 results were better than the market expectations, beating earnings consensus from Refinitiv by 6.4%.

Most brokers recommended “BUY” TISCO prior to the 2Q22 results, giving 12 buy recommendations, 3 hold and 1 sell. The target price consensus was at THB106.25 per share.