LH Financial Group Public Company Limited (SET: LHFG) announced its 2Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q23 | 2Q22 |
| Net Profit (Loss) Million Baht |
532.04 | 233.23 |
| Earning Per Share (Baht) |
0.0250 | 0.0110 |
| % Change | 128.12 | |
| 6 Months | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
1,201.91 | 744.97 |
| Earning Per Share (Baht) | 0.0570 | 0.0350 |
| % Change | 61.34 | |
LHFG reported a net profit of Baht 532 million in the second quarter of 2023, increased by 128.1% when compared to the second quarter of 2022, due to the increase in other operating incomes, gains on financial instruments measured at fair value through profit or loss and dividend income. However, net profit decreased by 20.6% when compared to the first quarter of 2023 with the net profit of Baht 669.9 million due to the decrease in gains (losses) on financial instruments measured at fair value through profit or loss and gains on investments.
In the second quarter of 2023, net interest income amounted to Baht 1,670.7 million, decreased by 1.4% when compared to the first quarter of 2023 and increased by 11.1% when compared to the second quarter of 2022. In the second quarter of 2023, interest income was Baht 2,729.0 million, decreased by 0.2% and interest expenses were Baht 1,058.3 million, increased by 1.7% when compared to the first quarter of 2023.
In the second quarter of 2023, the expected credit losses amounted to Baht 537.9 million, increased by 13.8% when compared to the first quarter of 2023 and decreased by 34.5% when compared to the second quarter of 2022. As a result, the second quarter of 2023, the coverage ratio stood at 228.73%.
