Tidlor Holdings Public Company Limited (SET: TIDLOR) delivered a robust financial performance for the 2025 fiscal year, overcoming a moderating Thai economy characterized by elevated household debt and global headwinds.
The company reported a net profit of THB 4.96 billion, representing a significant 17.4% year-on-year (YoY) increase from THB 4.22 billion in 2024. This growth was primarily fueled by expanding revenue streams from its core lending and insurance brokerage businesses, alongside disciplined cost control.
Total revenue climbed 6.2% to THB 23.53 billion in 2025. Interest income on loans, TIDLOR’s primary driver, rose 7.3% to THB 18.19 billion, supported by the expansion of the vehicle title loan portfolio and a shift in asset mix.
Conversely, interest income from hire-purchase receivables fell 18.9% to THB 1.14 billion, reflecting a deliberate reduction in this segment under a prudent risk management approach. The insurance brokerage segment remained a vital diversifier; fee and service income grew 7.8% to THB 4.02 billion, bolstered by its InsurTech brands. As of the end of 2025the company has a nationwide network of 1,873 branches.
Disciplined expense management and improved asset quality were crucial to the bottom-line boost. While service and administrative costs increased 5.4% due to business expansion and marketing, credit losses decreased by 11.4% to THB 3.03 billion.
This improvement was driven by lower net write-offs and effective debt collection, which saw the TIDLOR’s non-performing loan (NPL) ratio improve to 1.5%, down from 1.8% in 2024. Consequently, the company’s Cost-to-Income ratio declined slightly to 55.4%.
The 2025 results were achieved despite non-recurring items, including a one-time THB 140.0 million impairment of a joint venture investment and additional provisions recorded in the fourth quarter as a “management overlay” for potential economic uncertainties.
Despite these one-off impacts, TIDLOR maintains a strong capital position with a debt-to-equity ratio of 2.3x, decreased from 2.5x in 2024, and ample liquidity to support future growth.
