Tisco Financial Group Public Company Limited (SET: TISCO) has reported a resilient start to 2026, posting a net profit of 1,733.62 million baht for the first quarter, representing a 5.5% increase compared to the 1,643.38 million baht recorded in 1Q25. This growth was underpinned by a robust 10.3% year-on-year (YoY) expansion in total operating income, which reached 5,162.67 million baht.
The group’s net interest income (NII) rose by 3.4% YoY to 3,443.11 million baht. While total interest income actually declined 3.2% due to policy rate cuts by the Bank of Thailand, TISCO successfully navigated the downcycle by significantly reducing interest expenses, which fell 20.6% YoY to 1,000.69 million baht. This effective cost-of-funds management pushed the net interest margin (NIM) up to 4.95%.
Non-interest income was a standout performer, surging 27.2% YoY to 1,719.56 million baht. This recovery was visible across all business lines: banking fees jumped 34%, bolstered by bancassurance and a one-time large corporate prepayment fee, while brokerage and asset management fees grew by 26.7% and 18.5%, respectively, following improved market sentiment.
On the balance sheet, total loans experienced a slight contraction of 0.3% year-to-date (YTD), totaling 235,094.34 million baht. This was primarily due to repayments in the corporate and commercial sectors, despite a 0.9% growth in the hire-purchase portfolio fueled by electric vehicle demand.
Asset quality remained a priority; the non-performing loan (NPL) ratio improved to 2.11%, down from 2.28% at the end of 2025. However, TISCO adopted a cautious stance regarding geopolitical risks and energy price volatility, nearly doubling its expected credit loss (ECL) to 775 million baht—a 100.9% YoY increase. This proactive provisioning maintained a strong loan loss coverage ratio of 191.4%, ensuring the group remains well-buffered against a fragile economic backdrop.
