AGL 40.14 Increased By ▲ 0.14 (0.35%)
AIRLINK 132.25 Increased By ▲ 2.72 (2.1%)
BOP 6.87 Increased By ▲ 0.19 (2.84%)
CNERGY 4.53 Decreased By ▼ -0.10 (-2.16%)
DCL 8.90 Decreased By ▼ -0.04 (-0.45%)
DFML 42.40 Increased By ▲ 0.71 (1.7%)
DGKC 84.00 Increased By ▲ 0.23 (0.27%)
FCCL 32.90 Increased By ▲ 0.13 (0.4%)
FFBL 76.70 Increased By ▲ 1.23 (1.63%)
FFL 12.09 Increased By ▲ 0.62 (5.41%)
HUBC 109.75 Decreased By ▼ -0.80 (-0.72%)
HUMNL 14.38 Decreased By ▼ -0.18 (-1.24%)
KEL 5.49 Increased By ▲ 0.10 (1.86%)
KOSM 8.23 Decreased By ▼ -0.17 (-2.02%)
MLCF 39.22 Decreased By ▼ -0.57 (-1.43%)
NBP 64.51 Increased By ▲ 4.22 (7%)
OGDC 198.35 Decreased By ▼ -1.31 (-0.66%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.62 Decreased By ▼ -0.04 (-0.52%)
PPL 159.20 Increased By ▲ 1.28 (0.81%)
PRL 26.24 Decreased By ▼ -0.49 (-1.83%)
PTC 18.22 Decreased By ▼ -0.24 (-1.3%)
SEARL 82.00 Decreased By ▼ -0.44 (-0.53%)
TELE 8.10 Decreased By ▼ -0.21 (-2.53%)
TOMCL 34.40 Decreased By ▼ -0.11 (-0.32%)
TPLP 8.82 Decreased By ▼ -0.24 (-2.65%)
TREET 16.88 Decreased By ▼ -0.59 (-3.38%)
TRG 59.04 Decreased By ▼ -2.28 (-3.72%)
UNITY 27.55 Increased By ▲ 0.12 (0.44%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,629 Increased By 222.5 (2.14%)
BR30 31,915 Increased By 201.2 (0.63%)
KSE100 98,906 Increased By 1577.4 (1.62%)
KSE30 30,780 Increased By 588 (1.95%)

Thailand's Tisco Financial Group Pcl said on Monday quarterly net profit rose 5.2 percent from a year ago due to higher net interest income and cost control, but lending fell 2.1 percent, hit by a sluggish economy and weak market for cars.
Tisco group, which owns Tisco Bank, one of Thailand's top five providers of car loans, posted a net profit of 1.26 billion baht ($360 million) for January-March period, it said in a statement. Non performing loans (NPLs) stood at 3.07 percent of total lending at the end of March, down from 3.23 percent at the end of December, due to improvement in asset quality in the hire purchase and business clients, the company said.
Hire purchase or car loans account for 70 percent of Tisco Bank's portfolio. Hit by high household debt, the country's domestic auto sector is likely to remain weak following a contraction in sales in the past three years, Tisco said.
Earlier, Kiatnakin Bank, a leading car loan provider, reported a 67 percent surge in first quarter net profit of 1.11 billion baht, helped by income from securities and capital businesses, but lending fell 1.2 percent in the quarter. Kiatnakin said it expected Thailand's auto sales to fall more than 5 percent to below 760,000 this year due to weak economy.

Copyright Reuters, 2016

Comments

Comments are closed.