Analyst Meeting 1Q07

23 April 2007

Disclaimer: This presentation material may contain forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward looking statements as a result of various factors. TISCO Bank accepts no liability whatsoever with respect to the use of this document of its content.

2

1Q07 Financial Highlights

(34.6)

(16.5)

(31.0)

37.6

(24.9)

(12.6)

(33.8)

(4.6)

68.7

25.5

%YOY

318

(214)

537

284

253

(899)

502

649

(849)

1,498

4Q06

11.9

(34.8)

(7.7)

(134.3)

134.8

(26.2)

(0.4)

16.5

9.4

12.5

%QOQ

356

(139)

495

(98)

593

(664)

500

756

(929)

1,686

1Q07

544

(167)

718

(71)

789

(759)

755

793

(551)

1,344

1Q06

(2,899)(1,464)Interest expense

1,545

(633)

2,202

222

1,980

(3,048)

2,222

2,806

5,705

2006

2,267PPOP

(2,893)Operating expense

2,057Non-interest income

3,103Net interest income

4,567Interest income

186Provisions

2,453Pre-tax profit

1,791Net profit

(635)Income tax

2005(Million Baht) Major drivers:• HP loan growth of 8.2% YTD despite slowdown auto car sale • Slightly declined cost of fund• Continued banking fee income growth• Lower operating expenses due to changing of accounting method on commission fee expenses to be deferred and amortized over the period• No impact from IAS 39 on provision

Drawback from:• Higher interest rate environment compared to 1Q06• Lower trading gain in 1Q07 compared to 1Q06• Lower brokerage fee due to unfavorable stock market• Full corporate tax rate

1Q0720062005

47.8

2.7

12.0

1.9

1.87

49.9

3.2

11.5

1.5

0.422.21Diluted EPS (Baht)

44.3Cost-to-income (%)

4.1Interest spread (%)

14.0ROAE (%)

2.5ROAA (%)

3

Revenue Structure

Proprietary Trading10%

Investment Banking

0%

Asset Management Fee

6%

Brokerage Fee10%

Banking Fee16%

Interbank & MM - net4%

Wholesales Loans - net9%

Retail Loans - net45%

NII : Fee Income was 60% : 40%

4

Non Interest Income

(33.8)

(64.1)

(100.0)

9.9

270.4

(1.1)

(37.4)

% YoY

502

57

0

195

1

79

170

4Q06

(0.4)

73.1

0.0

2.3

529.7

(1.9)

(29.7)

% QoQ

755

274

28

182

1

78

191

1Q06

0028SAM

500

99

200

5

77

120

1Q07

100.0

19.7

40.0

0.9

15.4

23.9

Breakdown (%)

455Trading Income

2,222

786

9

295

649

2006

Investment Banking Fee

Banking Business

Asset Management Fee

Total

Brokerage Fee

(Million Baht)

• Continued growth from banking fee income

• Improved investment banking business

• No fee income from SAM project

• No special trading gain as in 1Q06

• Start bancassurance business

5

Operating Expenses

44.3% 47.8% 49.9%

2005 2006 1Q07

(26.2)

60.1

(0.9)

(71.5)

(2.6)

(6.1)

(26.3)

%QoQ

(12.6)

(10.2)

25.2

(48.7)

82.3

5.1

(10.0)

%YoY

100.0

22.0

0.3

10.5

4.9

16.9

44.7

Breakdown (%)

899

91

2

244

34

120

408

4Q06

664

146

2

70

33

112

301

1Q07

759

162

2

135

18

107

334

1Q06

3,048

542

8

728

102

452

1,216

2006

Other expenses

Directors’ remuneration

Fees and service expenses

Taxes and duties

Premises and equipment expenses

Operating Expenses

Personnel expenses

(Million Baht)

Cost to Income Ratio

OPEX decrease mainly due to Fees and Service Expenses and personnel expenses

6

Asset Mix Liabilities Mix

0%10%20%30%40%50%

60%70%80%90%

100%

2006 1Q07

Other assets

Interbank & MM& RepoInvestment

Other RetailLoansHire Purchase

Corporate Loans

0%

20%

40%

60%

80%

100%

2006 1Q07

Other Liabilities

L-T Borrowings

Interbank

Deposits*

92%

8.55658,8516454,245Hire Purchase

1007215

(3)7

17

%

84,7815,7991,7181,0244,393

(2,794)5,823

14,574

2006

206.533,139Interbank & MM773.11415,000Repo Securities

105,0916,058

4324(2,808)

6,072

14,453

1Q07

1006

4(3)

6

14

%

24.0Total Assets4.5Other assets

(1.6)Investment0.5Allowance4.3Other Retail Loans

(0.8)Corporate Loans

% YTD(Million Baht)

100503

92

%

12,68272,099

3,292362

2,15766,288

2006

13,02292,069

3,4723,9933,044

81,560

1Q07

100443

89

%

2.7Total Equity27.7Total Liabilities

5.0Other Liabilities1,003.9L-T Borrowings

41.1Interbank & MM23.0Deposits*

% YTD(Million Baht)

84,781 72,099 105,091

*Deposits include short term borrowing

89%

92,069

14%

56%

17%

64%

Loans & Deposits

17%3%

7

81.0

3,449

938

263

998

1,250

2006

4.6

20.9

13.1

1.8

8.6

%NPL

4.53,574TOTAL NPL

12.6251Retail-Housing

78.6

942

1,051

1,330

1Q07

19.0

1.8

9.2

%NPL

Other NPL

Coverage Ratio (%)

Retail-Hire Purchase

Corporate

NPL By Industry(Million Baht)

2,794 2,808

3,449 3,574

2006 1Q07

NPL Allowance

NPLs & Allowance (Million Baht)

Coverage Ratio & NPL

8

• Duration gap narrowed to 0.67 year primarily resulted from the expansion of

deposits and local borrowings.

• Assets duration decreased as the

expansion of long-term hire purchase

loans is offset by increase in short-term

liquid assets.

• Liabilities duration increased owing to

an increase in long-term borrowings.

Meanwhile, the average days to maturity

of deposits and local borrowings

increased from 146 to 190 days.

1.30

1.18

0.400.51

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

Dec. 06 Mar. 07

Assets Liabilities

Interest Rate Risk

Current Profile

9

(Remark: Penetration rate was accounted for only new car sales.)

Industry New Car Sales & TISCO Penetration Rate

703 682

82

193154165170

7.0%

9.1%10.1%

12.7%

18.1%

5.4%7.7%

2005 2006 1Q06 2Q06 3Q06 4Q06 Jan-Feb07

Total Car Sales Penetration Rate

Hire Purchase Business

(Thousand Units)

Motorcycle5%

Subsidiaries2%

Bank Branches

57%

Head Office36%

1Q07 Hire Purchase Breakdown

10

Brokerage Business

982 1,0531,168

786

16,454 16,28120,916

11,800

2005 2006 1Q06 1Q07

TISCO turnover Market turnover

Average Daily Turnover*(Million Baht)

27% 37%40%

23%23% 26%

50% 40%34%

0%

20%

40%

60%

80%

100%

2005 2006 1Q07

RetailInvestors

LocalInstitution

ForeignInstitution

Customer Breakdown

*Source: www.sse.set

(Million Baht)

(27.5)%YTD

(25.4)%YTD

Market

TISCO

240,503 255,847

73,59148,749

3.0%3.2%

3.3%

2.8%

2005 2006 1Q06 1Q07Brokerage Value Market Share

Brokerage Value & Market Share

11

82.1 84.788.9

62%62%62%

29%29%25%

9%9%13%

0

20

40

60

80

2005 2006 Mar 2007Provident Fund Private Fund Mutual Fund

(Billion Baht)

6.5 5.4

14.7 13.714.616.6

1.4 0.7

5.38 th

13.7 2 nd

17.0 2 nd

0.717 th

0

4

8

12

16

2005 2006 Feb 2007

TISCO Market Share Provident FundPrivate Fund Mutual Fund

1,574 1,630

1,260

24%25%28%

11% 9% 9%

61%66% 67%

0

500

1,000

1,500

2005 2006 Feb 2007

Provident Fund Private Fund Mutual Fund

Market NAV Asset Under Management(Billion Baht)

5.0% YTD

4.2% YTD

4.9% YTD

Total

Private Fund

Provident Fund

(Billion Baht)

Market Share (%)

Asset Management Business

12

Investor Relations

TISCO Bank Public Company Limited48/2 TISCO Tower, North Sathorn RoadSilom, Bangrak, Bangkok 10500

Tel. +66-2-633-6868Fax. +66-2-633-6818

Email: IR@tisco.co.thWebsite: www.tisco.co.th