TISCO Financial Group Public Company Limited (SET: TISCO) posted a consolidated net profit of THB 1,804.70 million for the third quarter of 2026, delivering a 4.3% year-on-year increase compared to THB 1,730.22 million in 3Q25.
Basic earnings per share expanded to THB 2.25, while the return on average equity (ROAE) reached 17%. Earnings growth was primarily anchored by a significant contraction in expected credit losses and cheaper funding costs, which successfully counteracted top-line revenue headwinds.
Total operating income declined 2.3% YoY to THB 5,150.98 million, driven mainly by a steep reduction in net gains on financial instruments measured at fair value through profit or loss (FVTPL), which fell to THB 11.86 million from THB 364.31 million in 3Q25.
However, net interest income (NII) climbed 6.2% YoY to THB 3,639.32 million. Net interest margin (NIM) widened to 5%, supported by a 26.2% drop in interest expenses to THB 879.11 million as funding costs repriced lower during the interest rate downcycle. Additionally, net fee income rose 6.1% to THB 1,365.14 million, boosted by a 24% surge in brokerage fees and a 9.4% increase in asset management fees.
Asset quality management provided a critical boost to profitability. Expected credit loss (ECL) dropped 40.3% YoY to THB 496.19 million, representing 0.8% of average loans. Non-performing loans (NPLs) decreased 3.8% quarter-on-quarter to THB 4,804.36 million, lowering the NPL ratio to 2.01%. The loan loss coverage ratio remained robust at 192.5%.
Total loans stood at THB 238,492.65 million, growing 1.1% quarter-on-quarter and 1.2% year-to-date. Expansion was led by corporate (+4.7% QoQ) and commercial lending (+2.6% QoQ), while retail loans contracted slightly by 0.3% QoQ. Operating expenses rose 5.3% YoY to THB 2,408.13 million, maintaining an efficient cost-to-income ratio of 46.8%.
