Post by account_disabled on Dec 26, 2023 9:51:24 GMT
KTC announces operating results for the first half of 2020. Net profit for the first half according to the new accounting standard TFRS 9 is equal to 2,790 million baht. The debtor portfolio expanded at 8.3%, aiming to send "P'Bem" a secured loan group to penetrate the market, along with loans. Pico and Nano Finance Create long-term business opportunities Ready to support additional government measures to help members suffering from the COVID-19 virus. There will be a reduction in interest rates and total fees for credit card and personal loan debtors as determined by the Bank of Thailand from 1 August 2020 onwards. Mr. Rathian Srimongkol, Chief Executive Officer of “KTC” or Krungthai Card Public Company Limited, said, “KTC's operations in the second quarter and first half of 2020 still maintain their ability to Earn money and make profits Although the emergency decree was announced During the outbreak of the COVID-19 virus It will have a significant impact on the quality of the company's assets and the volume of card spending. If the general situation improves and measures are relaxed. Consumers have begun to gradually adjust their spending back to better.
As a result, in the first half of 2020, the company's card spending volume decreased by 9.6%, with a total value of 90,613 million baht, which is a better rate than the industry during a 5-month period. In addition, the company places importance on controlling costs. financial Email Marketing List spending and continuous management of the quality of the debtor portfolio. As a result, bad debt income has been recovered at a satisfactory level. and the debtor portfolio continues to expand.” “The company assesses that if the outbreak of the COVID-19 virus It does not affect the level that the government needs to consider very strong measures again. It is believed that the second quarter will be the period that has been most affected by asset quality. However, in the second half of this year Business operations of the company Still have to face risks from the economic slowdown. And there may be an increased risk if there is another severe outbreak of COVID-19, which may affect employment.
Ability to repay debt or an increase in non-performing debt In addition, the announcement of measures to assist debtors from the BoT. In the second phase, the interest ceiling was reduced. Both the 2% credit card business and the 3% personal loan business still have a direct impact on the company's operating results. Therefore, investors should not take the first half of the year's operating results for granted. It is used as a basis for estimating the company's operating results in the second half of the year. However, the management will adjust the business model to respond to changes in both the economy and the reduction in interest rates. Emphasis will be placed on the expansion of "P'Bem" loans in the part of loans with collateral, such as registration loans for both cars and motorcycles. Along with expanding loans, "Pico Finance" and "Nano Finance" are businesses that have the opportunity to create long-term growth.
As a result, in the first half of 2020, the company's card spending volume decreased by 9.6%, with a total value of 90,613 million baht, which is a better rate than the industry during a 5-month period. In addition, the company places importance on controlling costs. financial Email Marketing List spending and continuous management of the quality of the debtor portfolio. As a result, bad debt income has been recovered at a satisfactory level. and the debtor portfolio continues to expand.” “The company assesses that if the outbreak of the COVID-19 virus It does not affect the level that the government needs to consider very strong measures again. It is believed that the second quarter will be the period that has been most affected by asset quality. However, in the second half of this year Business operations of the company Still have to face risks from the economic slowdown. And there may be an increased risk if there is another severe outbreak of COVID-19, which may affect employment.
Ability to repay debt or an increase in non-performing debt In addition, the announcement of measures to assist debtors from the BoT. In the second phase, the interest ceiling was reduced. Both the 2% credit card business and the 3% personal loan business still have a direct impact on the company's operating results. Therefore, investors should not take the first half of the year's operating results for granted. It is used as a basis for estimating the company's operating results in the second half of the year. However, the management will adjust the business model to respond to changes in both the economy and the reduction in interest rates. Emphasis will be placed on the expansion of "P'Bem" loans in the part of loans with collateral, such as registration loans for both cars and motorcycles. Along with expanding loans, "Pico Finance" and "Nano Finance" are businesses that have the opportunity to create long-term growth.