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SCBX ANNOUNCED FIRST-QUARTER 2025 NET PROFIT OF BAHT 12,502 MILLION
Bangkok: SCB X Public Company Limited (SCBX) has reported a consolidated net profit of Baht 12,502 million for the first quarter of 2025, an increase of 10.8% from the same period last year, due to efficient cost control and prudent balance sheet management.
In 1Q25, net interest income was Baht 31,047 million, decreasing 2.2% yoy due to a narrower net interest margin (NIM) and an overall loan portfolio contraction of 1% from prudent new loan underwriting. Fee and other income totaled Baht 10,251 million, increasing 0.7% yoy, driven by growth in wealth management fee, while bancassurance and lending-related fees declined.
Operating expenses decreased by 5.3% yoy to Baht 17,140 million due to effective cost control measures and the discontinuation of the Robinhood platform business in 2024. The Company's cost-to-income ratio decreased to 39.9%.
The provisions decreased by 6.2% yoy, primarily due to improved asset quality in both SCB Bank and Gen 2 businesses, particularly from CardX business. These provisions include additional cushion against potential impacts from U.S. tariffs, based on preliminary assessment. The non-performing loan (NPL) coverage ratio remained high at 156%.
Overall asset quality is well under control. The NPL ratio was 3.45% at the end of 1Q25, down from 3.52% in the previous year. The capital adequacy ratio remained strong at 18.8%.
Arthid Nanthawithaya, Chief Executive Officer of SCBX, commented:
“The year began with significant challenges, from the earthquake to high uncertainty of U.S. tariff escalations. The Company promptly implemented measures to assist retail and SME customers affected by the earthquake, including loan payment deferrals and financing supports for housing repairs and business recovery. The Company expects the impact on SCBX group’s businesses to be limited.
The Company estimates the impact from U.S. tariff will reduce the country's GDP this year to 1.5%, with the potential for more severe consequences than anticipated. The Company has taken proactive preparations by closely monitoring our customers' situations to assess both direct and indirect impacts and collaborating with customers to develop appropriate solutions.
Despite these challenges, our first-quarter 2025 results reflect solid performance, driven by effective cost control and prudent asset quality management. In this quarter, SCBX’s group cost-to-income ratio was below the industry average, while Gen 2 and Gen 3 businesses continued to contribute increasing profits, complementing Gen 1 business performance.
The Company has announced a dividend payment of 80% from last year's performance and remains committed to maintaining financial strength to support our customers and the Thai economy while continuously enhancing shareholder value."
