Mil. Baht 2016 2017 2018 2019 2020 9M20 9M21 HoH%
Loan Receivables 23,541 35,622 48,047 60,338 70,968 67,215 84,952 26.39
Total Revenue 4,471 7,470 10,417 12,688 14,733 10,842 11,785 8.70
Net Profit 1,464 2,501 3,713 4,237 5,214 3,844 3,844 -
Net Profit Margin 32.74% 33.47% 35.64% 33.40% 35.38% 35.45% 32.62%
Mil. Baht 3Q21 3Q20 YoY% 2Q21 QoQ%
Loan Receivables 84,952 67,215 26.39 79,830 6.42
Total Revenue 4,032 3,737 7.89 3,896 3.49
Net Profit 1,201 1,340 -10.37 1,270 -5.43
Net Profit Margin 29.79% 35.86% 32.60%
2Including Muangthai Leasing’s account receivables
52-week High/Low (30/9/21)
Share Outstanding (mil.)
Market Capital (mil.) (30/09/21)
P/E Ratio
P/BV RatioDividend
50.00/71.50
2,120
123,490
23.07
5.4815%
4
35,62248,047
60,33870,968 73,547 79,830 84,952
2,4243,279
4,1074,884 5,005 5,284 5,665
-
2,000
4,000
6,000
8,000
10,000
0
50,000
100,000
2017 2018 2019 2020 1Q21 2Q21 3Q21Loan receivable Number of branch
14.24 14.38 14.69 14.53 14.69 15.10 15.00
Loan receivable per branch
Allowance for Doubtful Account Asset Quality Ratio
2.30%
1.40% 1.02%0.39%
0.81% 0.72% 0.92%
0%
2%
4%
2017 2018 2019 2020 1Q21 2Q21 3Q21
Credit cost = Bad debts and doubtful account / Loan receivables
Loan Receivables Classified
50%60%70%80%90%
100%
2017 2018 2019
90.77% 92.00% 91.04%
7.99% 6.88% 7.93%
1.24% 1.12% 1.03%
2020 1Q21 2Q21 3Q21
92.62% 93.95% 93.47%93.54%
6.33% 5.09% 5.42% 5.28%1.05% 0.96% 1.11% 1.17%
Stage 1 Stage 2 Stage 3
0
500
1,000
1,500
2,000
2,500
2017 2018 2019 2020 1Q21 2Q21 3Q21
1,171 1,499
1,715
1,328 1,314 1,436 1,597
Allowance for doubtful accounts ( ECL )
441 540 621 747 709 882 997
NPL
265% 278% 276% 178% 185% 163% 160%
coverage ratio = allowance for doubtful (ECL) / NPL
Loan Receivables and No. of Branches
13
0
6,000
12,000
18,000
2017 2018 2019 2020 2021
1,563 2,348 2,858 3,533 3,8571,765 2,537 3,071 3,572 3,8961,968
2,711 3,3043,737 4,032
2,1742,821
3,4553,890
Q1 Q2 Q3 Q4
Total Revenues Revenues Structure
Interest Incomes SG&A Expenses
+7.89% YoY+3.49% QoQ
0%
20%
40%
60%
80%
100%
2017 2018 2019 2020 1Q21 2Q21 3Q21
91.0% 91.6% 94.0% 94.8% 92.9% 94.5% 95.4%
8.6% 7.6% 5.3% 4.9% 6.8% 5.1% 4.4%0.5% 0.7% 0.7% 0.3% 0.2% 0.4% 0.2%
Interest Income & Management fee Fee and Service Income Other income
0
6,000
12,000
18,000
2017 2018 2019 2020 2021
1,415 2,140 2,665 3,332 3,585 1,600 2,314 2,862
3,385 3,684 1,796
2,478 3,105
3,555 3,844
1,984 2,612
3,248 3,690
Q1 Q2 Q3 Q4
+8.13% YoY+4.33% QoQ
3,0124,103
5,314 6,144
1,501 1,657 1,780
44.28% 44.01% 47.49% 47.57% 44.41%48.89% 51.23%
0%
10%
20%
30%
40%
50%
60%
0
5,000
10,000
2017 2018 2019 2020 1Q21 2Q21 3Q21Operational Expense % Cost to Income
14
• Interest Income is calculated using Effective Interest Rate method.
• Non-Interest Income is collection fee + brokerage fee income.
• Other Income is consisted of Deposit Interest Income + Revenue from Asset Depositions
Net Profit
Net Profit Margin and Return on EquityInterest Income Ratio, Interest Expense Ratio and Interest Spread
23.91% 23.79% 22.58% 21.77% 20.21% 19.57% 19.01%
3.06% 3.53% 3.78% 3.58% 3.44% 3.40% 3.41%
20.85% 20.26% 18.80% 18.19%16.77% 16.17% 15.60%
0%
10%
20%
30%
2017 2018 2019 2020 1Q21 2Q21 3Q21Interest Income Ratio Interest Expense Ratio Interest Spread
0
2,000
4,000
6,000
2017 2018 2019 2020 2021
536 834 1,005 1,237 1,374571912 1,021 1,267 1,270
650965 1,080
1,340 1,201
743
1,002 1,1311,370
Q1 Q2 Q3 Q4
-10.37% YoY-5.43% QoQ
33.47% 35.64% 33.40% 35.39% 35.62%32.60% 29.79%
31.99%34.96%
29.98%28.45% 27.16% 26.43%
24.22%
0%
10%
20%
30%
40%
2017 2018 2019 2020 1Q21 2Q21 3Q21Net Profit Margin Return on Equity
15
Interest Bearing Debts
Shareholders’ Equity
Total Liabilities
Debt to Equity Ratio
0
20,000
40,000
60,000
80,000
2017 2018 2019 2020 1Q21 2Q21 3Q21
61.32%68.92% 66.76%62.25% 65.74% 64.01% 58.25%13.83%
17.61%28.94%
33.05% 32.14% 28.86% 38.55%
24.84%13.47%
4.30%4.70% 2.11% 7.14% 3.20%
Long-term Loans Current of Long-term Loans Short-term Loans
0
20,000
40,000
60,000
80,000
2017 2018 2019 2020 1Q21 2Q21 3Q21
28,00936,847
45,90056,540 57,685
64,025 68,151
-
6,000
12,000
18,000
24,000
30,000
2017 2018 2019 2020 1Q21 2Q21 3Q21
8,94312,299
15,972
20,682 22,058 22,54523,747 3.13 3.00 2.87 2.73 2.62 2.84 2.87
0.00
1.00
2.00
3.00
4.00
2017 2018 2019 2020 1Q21 2Q21 3Q2116
No. Financial Status Ratio 3Q21 3Q20 % 2Q21 %
1. Net loan receivables 84,951.60 67,215.10 26.39 79,830.61 6.41
2. Allowance for doubtful account 1,597.39 1,345.15 18.75 1,436.47 11.20
3. NPL 997.00 674.44 47.83 882.44 12.98
4. Allowance/NPL (2/3) 160.22 199.45 162.78
5. NPL/ Net AR (3/1) 1.17% 1.00% 1.11%
6. Write off 10.73 44.88 4.82
7. NPL+Write off (3+6) 1,007.74 719.32 40.10 887.26 13.58
8. NPL+Write off / Net AR (7/1) 1.19% 1.07% 1.11%
9. Total asset 91,898.41 72,901.65 26.06 86,570.48 6.15
10. Total liabilities 68,151.50 53,588.05 27.18 64,025.39 6.44
11. Total equity 23,746.91 19,313.60 22.95 22,545.09 5.33
12. D/E ratio (10/11) 2.87 2.77 2.84
Fundamental
17
No. Efficiency Ratio 3Q21 3Q20 % 2Q21 %
18. Gain arising from derecognition of financial assets measured at amortised cost 2.02 7.43 -72.81 0.54 274.07
19. Expected credit loss 191.24 -59.47 421.57 137.86 38.72
20. Total employees 11,370 10,106 12.51 10,868 4.62
21. Total branches 5,665 4,798 18.07 5,284 7.21
22. Net loan receivables per employee (1/20) 7.47 6.65 12.33 7.34 1.77
23. Net loan receivables per branch (1/21) 15.00 14.01 7.07 15.10 -0.66
Growth
Efficiency
No. Efficiency Ratio 3Q21 3Q20 % 2Q21 %
13. Total revenue 4,031.34 3,736.65 7.87 3,896.41 3.47
14. Interest and fee income 3,843.96 3,554.81 8.13 3,684.45 4.33
15. Fee and service income 177.78 172.48 3.07 211.96 -16.13
16. Net profit 1,200.77 1,339.97 -10.39 1,270.07 -5.46
17. % Net profit / Total revenue (16/13) 29.79 35.86 32.60
18