Bangkok--18 Jan--TMB
TMB Bank Public Company Limited achieved a net profit of 4,009 million — an increase by 25.2% compared to 2010
Mr. Boontuck Wungcharoen, TMB Chief Executive Officer, said performance of TMB continued to grow with positive results in 2011. Net interest margin (NIM) significantly increased to 2.41% compared to 2.05% in 2010. Core non-interest income rose steadily with a growth of 14% compared to 2010.
During 2011, TMB saw an increase of 9.6% in total deposit compared to that of 2010. The growth was attributed to the launch of deposit products which truly benefit customers, especially “TMB No Fixed” deposit and the relentless channel improvement efforts, including the implementation of strategic relocation of existing branches and enhancing electronic banking functions for more customer convenience in accessing TMB products and services. As part of these efforts, the Bank this week launches “ME by TMB” a unique branded banking service on the electronic channel with the new to cater to the changing lifestyles of customers. “ME by TMB” operates under the concept “Do It Yourself to Get More” for customers who prefer to manage their banking transactions on their own via the electronic channel.
In 2011, TMB achieved loan growth of 12.4%, which is in line with the set target. The Bank continued to adhere to prudent liquidity policy during the fiscal year and maintained a high level of liquidity.
Asset quality of the Bank was on a continuous improvement trend. In 2011, total non-performing loans for the Bank and subsidiaries were 29,828 million baht, a reduction by 6,219 million baht compared to the end of 2010. NPL ratio for the consolidated statement dropped to 5.67% at the end of 2011 from 8.26% at the end of 2010 while NPL ratio for the Bank statement was at 5.24% compared to 7.67% at the end of 2010. In 2011, the Bank has allocated 3,104 million baht in total reserve. This represented an increase by 1,450 million baht from 2010 and was in line with the domestic and international economic outlooks. As a result, coverage ratio of the Bank rose to 73% at the end of 2011 from 57% at the end of 2010.
As at the end of 2011, the Bank maintained a solid financial status with a capital adequacy ratio (CAR) of 16.1%, of which 11.1% classified as Tier 1.
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