TIDLOR Continues to Expand Portfolio as 3Q22 Earnings Grow 10% to THB900 Million

Ngern Tid Lor Public Company Limited (SET: TIDLOR) has announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
901.09 812.72
Earning Per Share
0.3700 0.3700
% Change 10.87
6 Months 2022 2021
Net Profit (Loss)
Million Baht
2,822.86 2,373.52
Earning Per Share (Baht) 1.17 1.07
% Change 18.93

TIDLOR reported a net profit of THB 901 million in 3Q22, increased 10.87% from a net profit of THB 812 million in 3Q21. The increase was due to an increase in interest income from portfolio expansion and an increase in fee and service income which was mainly from life and non-life insurance brokerage businesses. 

Total revenues for the three-month period ended of September 30, 2022 reported at THB 3,930.3 million, increased by 34.5% from the same period of the previous year which was at THB 2,921.7 million due to the economic recovery after the COVID-19 outbreak has eased. Moreover, another key factor is the success of “TIDLOR” card which increases convenience for customers and allows customers access to cash 24 hours a day, the company continues to deliver superior services through all channels, including online, offline and mobile application. The company has been serving around 446,000 TIDLOR cards by the end of September this year. Fee and service income increased by 43.6% from the same period of the previous year mainly from the continuous expansion of insurance brokerage businesses.

Non-performing loan ratio as of September 30, 2022 was 1. 5%, increased from 1. 2% as of December 31, 2021. The company still managed asset quality effectively although facing uncertainty from macroeconomic factors, rising inflation rate and the end of debt relief program. Meanwhile, debt-to-equity ratio as of September 30, 2022 was 2.2 times, which increased from 2.0 times as of December 31, 2021 and aligned with loan portfolio expansions.

The number of branches across all 74 provinces nationwide as of September 30, 2022 was 1,574, increased by 288 branches from December 31, 2021 which was in line with the company’s strategy to continue expanding 500 branches within 2023.