Ngern Tid Lor Public Company Limited, or TIDLOR, led by Piyasak Ukritnukun, Managing Director, has announced its goal of reducing the Non-Performing Loans (NPLs) ratio to less than 1.8% this year, down from the previous estimate of 2%.
This reduction is a result of the company's commitment to implementing rigorous loan approval measures. Notably, the NPL for Q1/23 has slightly decreased to 1.5%, which is lower than both the industry benchmark and other competitors.
Simultaneously, Ngern Tidlor has revised the full-year credit cost to a range of 3.00-3.35%, comparing to the previous target range of 3.00-3.50%. This adjustment reflects the company's improved ability to control debt quality and its commitment to maintaining sufficient and appropriate reserves.
The Managing Director of Ngern Tidlor stated, "We are confident in achieving a 10-20% loan growth by the end of this year. In fact, our Q1/23 performance has already projected a remarkable 26% Y-o-Y growth. Additionally, we are targeting a robust 20-25% growth in the non-life insurance premium segment, with our Q1/23 performance projecting an impressive 28% Y-o-Y growth. Our strategic policy focuses on developing operational efficiency and investing in technology to support sustainable business growth, reducing reliance on branch expansion."
For more information on the shareholders meeting, please visit the Stock Exchange of Thailand website or follow TIDLOR stock at www.tidlorinvestor.com or visit http://www.tidlor.com/th or Facebook Fan page Ngerntidlor.