LHFG Reports 14% Increase in 2022 Earnings from Better Performance in Loan Segment

LH Financial Group Public Company Limited (SET: LHFG) has announced its annual financial statement of 2022 through the Stock Exchange of Thailand as follows;

Year 2022 2021
Net Profit (Loss)
Million Baht
1,578.76 1,383.72
Earning Per Share
0.0750 0.0660
% Change 14.09

LHFG reported a net profit of 1,578 million baht in 2022, increased 14.09% when compared to a net profit of 1,383 million baht in 2021. The increase was due to the expansion of loans, resulting in an increase in interest income, although net fees and service income decreased from the money market and capital market unfavorable conditions. LHFG still set aside the provision for expected credit losses under a conservative basis to support the expansion of loans and potential impacts from the end of customers’ relief measures. Expected credit loss for the year dropped 17.5%.

As a result, the coverage ratio was better at 220.9%, and the NPL ratio dropped from 2.77% at the end of 2021 to 2.09% at the end of 2022.