SCBX announces 2567 net profit of 43,943 million baht

SCBX announces annual net profit 2567, amounting to 43,943 million baht, with a strong financial status and prudent asset quality management.

SCB EX Public Company Limited Net profit for 2567 was 43,943 million baht, an increase of 1.0% from the previous year, and net profit for the fourth quarter of 2567 was 11,707 million baht, an increase of 6.5% from the previous year.

For 2567, net interest income was THB 129,424 million, an increase of 3.8% YoY, driven by an expansion in net interest margin, while total loans decreased slightly by 1.0% YoY due to cautious lending. Fee and other income was THB 40,657 million, a decrease of 5.6% YoY, mainly due to a decrease in fee income from insurance sales and fees related to lending.

Operating expenses amounted to 72,977 million baht, an increase of 1.7% from the previous year, with an expense-to-income ratio of 42.3%.

The Company set aside a 2.3% decrease in provisions from the previous year, mainly due to its prudent asset quality management. The coverage ratio remained high at 158%.

Overall loan quality remains well-controlled, with the NPL ratio at the end of 2567 at 3.37%, down slightly from 3.44% in the previous year. The Company's statutory capital is strong at 18.9%.

Mr. Arthit Nanthawithaya, Chief Executive Officer of SCB X Public Company Limited, said “The year 2567 was a year of challenges in many dimensions, both in terms of economy and technology. SCBX Group aims to grow its business with caution, manages loan quality prudently, and focuses on strengthening its financial status. In addition, the company has established PointX as a central platform to increase interactions with the group’s customers. In addition, SCBX has also been certified for its short-term greenhouse gas emission reduction target by SBTi, becoming the first organization in the Thai financial institution group to receive the certification, aiming to achieve the Net Zero target by 2593 and sustainable growth in the future.

In 2568, SCBX will focus on continuous growth from its current businesses, especially in the consumer finance group, with a focus on efficient cost management and more efficient debt collection. The company will continue to provide credit to vulnerable customer groups under the government's measures with full force.

SCBX prioritizes sustainable growth by preparing with business partners to establish a virtual bank and aim for Net Zero targets, as well as creating growth opportunities in Climate Tech businesses. In addition, the company is moving towards the goal of becoming an AI-first organization by using AI in all dimensions of operations to increase work efficiency and meet changing customer needs.”

Read all news related to the banking industry here.