Loan Receivables

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Transcript of Loan Receivables

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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

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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%

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99

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35,62248,047

60,33870,968 73,547 79,830 84,952

2,4243,279

4,1074,884 5,005 5,284 5,665

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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

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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

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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

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• 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

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Interest Bearing Debts

Shareholders’ Equity

Total Liabilities

Debt to Equity Ratio

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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

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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

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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

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