Thanachart Capital Public Company Limited (SET: TCAP) has announced robust operating results for the first quarter of 2026, showing strong growth amidst challenges from external pressures on the Thai economy. The Company reported a net profit of 2,123 million baht, an increase of 24.15% year-over-year and 12.09% quarter-on-quarter. This performance reflects the Group’s effective business management and the resilience of its diversified income structure.
Mr. Perapart Meksingvee, Chief Executive Officer of TCAP, said, “Our performance in the first quarter of 2026 remained robust despite continued economic volatility driven by external factors. The Company and its subsidiaries reported the net profit attributable to the Company of 2,123 million baht, representing an increase of 24.15% year-on-year and 12.09% quarter-on-quarter. The strong results were primarily driven by a significant growth of non-interest income, particularly from the insurance business, as well as higher share of profit from associated companies, in line with their solid performance. Furthermore, expected credit losses decreased, mainly due to improved asset quality of a subsidiary company. The performance of Thanachart Group’s key businesses comprised:
- Ratchthani Leasing reported a consolidated net profit of 340 million baht, up 33.85% Y-Y and 7.94% Q-Q.
- Thanachart Insurance reported a net profit of 446 million baht, up 99.11% Y-Y and 102.73% Q-Q.
- Share of profit from investments in associated companies amounted to 1,524 million baht, up 13.39% Y-Y and 4.89% Q-Q.
The Group’s financial position remained stable. It focused on increasing investments with an aim to generate returns. As of 31 March 2026, Thanachart Group’s total assets stood at 157,755 million baht, an increase of 1.99% from the end of 2025. This growth was driven by a reallocation of its investment portfolios towards equity instruments in order to enhance returns, while total loans decreased slightly due to a cautious lending approach. The capital structure remained strong, with shareholders’ equity at 82,671 million baht, increased from the net profit in the first quarter of 2026. The Return on Average Equity (ROAE) stood at 10.39%.
With regard to the outlook for the remainder of 2026, Thanachart Group maintains the view that the Thai economy will experience limited growth. This is primarily due to geopolitical conflicts, interest rate trends, and the fragility of household purchasing power—all of which remain significant risks requiring close monitoring. Against this backdrop, TCAP will place emphasis on quality growth by prioritizing strict credit screening and careful underwriting practices, maintaining risk discipline, and managing its asset portfolio to match the economic climate. This includes strengthening its financial position and reserves to accommodate potential future volatility, while aiming to generate appropriate and sustainable long-term returns for shareholders.”
