LHFG’s 3Q23 Profit Grows 11% from Higher Interest Rates and Lower Provisions

LH FINANCIAL GROUP PUBLIC COMPANY LIMITED (SET: LHFG) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;


Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
542.67 489.03
Earning Per Share
0.0260 0.0230
% Change 10.97
9 Months 2023 2022
Net Profit (Loss)
Million Baht
1,744.58 1,234.00
Earning Per Share (Baht) 0.0820 0.0580
% Change 41.38


LHFG reported a net profit of THB 542.67 million in 3Q23, an increase of 10.97% from a net profit of THB 489.03 million in the same period last year (YoY). The total 9-month (9-m) period of 2023 net profit, reported at THB 1,744.6 million, an increase by 41.4% YoY.

In the third quarter of 2023, net interest income amounted to Baht 1,762.9 million, increased by 5.5% QoQ and increased by 13.0% YoY.

LHFG recorded THB 5,127.2 million of net interest income (NII), an increase of 13.7% (9-m YoY). LHFG’s net non-interest rate income (non-NII) decreased by 0.03% to THB 1,460.4 million, which is due to a decrease in service fees, service incomes, net loss from financial instruments valuation and THB 2,913.9 million of other operating expenses.

In Q3 of 2023, the expected credit losses was THB 552.7 million, increased by 1.1% QoQ and declined by 5.0% YoY.

The main drive of LHFG profit is from the net profit of Land and House Bank at THB 1,369.9 million, the 77.3% increase YoY due to the (NII) and other operations plus the decrease in expected credit loss. Land and House Bank’s coverage ratio is at 218.31% but its NPL ratio increased from 2.09% in Q4 of 2022 to 2.56% in this Q3 of 2023.