THANI Reports 44% Drop in 3Q23 Earnings from Soaring Expected Credit Loss

Ratchthani Leasing PCL (SET: THANI) reported its Q3 financial result on 9 November as follows.

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
250.41 452.54
Earning Per Share
0.0400 0.0800
% Change -44.67
9 Months 2023 2022
Net Profit (Loss)
Million Baht
1,125.71 1,399.94
Earning Per Share (Baht) 0.2000 0.2500
% Change -19.59


For Q3 of 2023, THANI and its subsidiary reported a net profit of THB 250.41 million. It represented an ROE of 7.98%, decreased from 13.59% YoY. This is driven primarily by the increase in expected credit loss and loss from sale of foreclosed assets, caused by the growth strategy into high yield loans, as well as the pressure from high household debt level and rising cost of living.


THANI’s strategy is to maintain loss reserves for those mentioned risks, which was at THB 339 million in Q3, almost triple from THB 122 million in Q3/22. Another strategy is to manage its asset quality, especially the outstanding repossessed car, which is under the pressure from the current Thai economy that affects lending and fees and service income, and also possibility of rules, regulations and other measure adjustment.


THANI’s total income amounted to THB 1,160.08 million, financial cost amounted to THB 304.07 million, the selling and administrative expense amounted to THB 207.74 million, and expected credit loss amounted to THB 339.78 million. The Total assets amounted to THB 55,636.78 million, the total liabilities amounted to THB 43,112.83 million and the total equity amounted to THB 12,523.95 million.