SCB X Public Company Limited reported a net profit in the third quarter of 2022 of 10,309 million baht, an increase of 16.9% from the same period last year. This was a result of the expansion of net interest income base and lower reserves. Meanwhile, operating profit before provision was at 22,815 million baht, an increase of 8.2% from the same period last year. For the first nine months of 2022, the Company had a net profit of 30,403 million baht, an increase of 9.7% from the same period last year.
In the third quarter of 2022, net interest income amounted to 27,714 million baht, an increase of 17.8% from the same period last year. This was due to the expansion of net interest rate spread along with the trend of rising interest rates. while overall credit grew 3.0% from the same period last year.
Fee income and others amounted to 11,752 million baht, a slight decrease of 0.6% from the same period last year. but increased by 6.5% from the previous quarter. This corresponds to the full opening of the country and the recovery of broad business activities. Meanwhile, investment and trade income declined 81.3% from the same period last year. amid unfavorable market conditions
Operating expenses amounted to 16,942 million baht, an increase of 7.1% from the same period last year. but the cost-to-income ratio remained well-controlled at 42.6% in the third quarter of 2022.
The Company has set aside reserves for the third quarter of 2022 in the amount of 7,750 million baht, a decrease of 22.8% from the same period of the previous year. Meanwhile, the allowance for bad debt to NPL ratio was high at 163.8%.
Overall credit quality continued to improve. The NPL ratio at the end of September 2022 was 3.34%, down from 3.58% at the end of June 2022, and statutory capital remained strong at 18.5%.
Mr. Arthit Nanthawittaya, Chief Executive Officer of SCBX Public Company Limited, said, “SCBX Group’s business continues to expand strongly. reflecting economic recovery and strong risk management Along with supporting the recovery of customers in various groups At the same time, the establishment of a new business under the strategy of “Yarn Mae” has made many advances.
For example, the penetration into the car registration loan business of Auto X under the brand “Ngern Chaiyo” that was able to expand its customer base and credit over 3,000 million baht within a single quarter. Innovest X Securities has launched a super app. The first investment in Thailand that combines the trading of traditional and digital assets in one platform.
Moreover, Robin Hood’s platform has been transformed into a super app. to the full range by adding accommodation booking services and travel activities (Online Travel Agent), ordering services from supermarkets and stores (Mart Service), and delivery services (Express Service), as well as obtaining a service platform license. the car is called
And in this quarter, SCB X received a special dividend from the bank to operate in accordance with the business restructuring plan. to lead the organization to become the leading financial technology group in the region.”
