บทวิเคราะห์ (Research)

TISCO : Earnings Result - 4Q24 Earnings as Expected 4Q24 net profit of 1,700 million baht was in line with our and the market’s expectations. Profit declined by 4% y-y and 1% q-q. This quarter saw positive developments in asset quality: i) Credit costs decreased to 58 bps from 62 bps in 3Q24. ii) NPL Ratio stood at 2.35%, down from 2.44% in 3Q24, reflecting a cautious approach to lending. We maintain our NEUTRAL rating at 97 baht as TISCO offers an attractive dividend yield, forecast at 8% per annum, with a projected 2H24 payout of 5.75 baht per share, yielding 6% per annum.