Ngern Tid Lor Public Company Limited (TIDLOR) has truly made a mark in the financial realm as they unveil a striking performance for the initial nine months of 2024. With a sensational net profit of 3.186 billion baht, they’ve achieved an impressive 10.3% spike compared to last year. What’s fueling this stellar growth, you ask? Well, a whirlwind of factors have come together. The company’s total revenues have skyrocketed by 19.5% year-on-year, all thanks to a blend of increased interest income stemming from the relentless expansion of their credit loan business. Not to mention, they’ve ingeniously sculpted their net interest margin strategies, and their insurance brokerage sector continues to flourish, adding handsome chunks to their coffers in the form of fee and service income.
Zooming into the third quarter of 2024, TIDLOR showcases a revenue surge of 16.1% YoY, sealing the deal with a net profit of 990.6 million baht. Their loan portfolio is nothing short of spectacular, with an outstanding figure of 102.7 billion baht, marking an 11.8% ascent from the prior year. Demonstrating impeccable risk management, they’ve successfully held their non-performing loan (NPL) ratio at a commendable 1.88%, steering well clear of their 2% target, and flaunting an NPL coverage ratio of an impressive 230.6%.
The insurance brokerage sector has donned its superhero cape, too. Accident insurance premiums shot up by 15.1% YoY, reaching a staggering 2.377 billion baht in the third quarter alone. TIDLOR’s decade-long labor of love, the InsurTech platform, continues its triumphant march, broadening its horizons with a whopping array of products and sales avenues. With an army of over 5,000 expert brokers housed under the emblem of “Prakan Tidloh” and sprawled across 1,747 sectors nationwide, they are leaving no stone unturned. Plus, their digital prowess shines through “Areegator,” an online platform backing over 9,000 partner brokers, and “Heygoody” – the go-to digital stop for customers eager to buy insurance any time, round the clock, with just a click for immediate protection.
Behind TIDLOR’s vibrant scenes is the articulate orchestration of CEO Mr. Piyasak Ukritnukul, who has been pivotal in championing cost efficiency and adept risk-based interest rate tactics, ensuring profitability remains steadfast. He voices unparalleled confidence, saying, “We are equipped and geared up to keep our NPL ratio beneath the 2% threshold while scaling our loan and insurance businesses to greater heights.” Moreover, TIDLOR’s financial robustness gleams with an “A/Stable” credit rating by TRIS Rating, underscoring their economic resilience.
Gazing into the horizon, TIDLOR is set on a path of continuous elevation in its loan and insurance brokerage sectors as they step into the next quarter. With its restructuring blueprint unfurling, one can look forward to Tidlor Holdings making its debut bat swing on the Stock Exchange of Thailand by the first quarter of 2025, subject to the green light from regulators.
For those staying tuned to TIDLOR’s exciting journey, all the buzz unfolds at www.tidlorinvestor.com.
This is just another example of how big corporations make all the profits while everyday people struggle.
I disagree. They are providing financial services that people need, and their growth is a sign of their success.
Success for them, but do those services genuinely help the average person or just push them into more debt?
Exactly! They act like they are heroes, but it’s just about making as much money as possible.
Incredible results! TIDLOR is clearly managing their risks well. It’s not easy maintaining such a low NPL ratio.
True, but how much of this is sustainable growth and how much is short-term gain?
Good point, Raymond. They seem well-poised, but only time will tell if they maintain this momentum.
It’s concerning how much they focus on profits. What about customer welfare?
Capitalism at its finest! It’s all about shareholder interests.
Yes, and the worst part is it doesn’t seem like this is changing anytime soon.
TIDLOR’s strategic expansion of their InsurTech platform is a smart move in the digital age.
They might be successful, but are they ethical? High-interest loans can ruin lives.
I doubt ethics are their priority. It’s all about growth and profits.
Exactly. It’s the dark side of the finance world.
With such robust financial health, I’d consider them a strong investment opportunity.
I agree. Their strategic moves and low NPL ratios are appealing.
But is it wise to invest in a company that heavily profits from people’s financial struggles?
TIDLOR’s market strategies are brilliant. They’re leveraging technology to expand.
Their reliance on digital platforms is risky though. What if there’s a tech mishap?
Their risk management is noteworthy. Keeping NPL at 1.88% is impressive.
Agree. It shows they have solid systems in place to manage their finances.
I don’t get why increasing profit is seen as a bad thing. Isn’t that the goal of any business?
The fact they’re maintaining an ‘A/Stable’ rating during such growth phases is a testament to their leadership.
They’ve come a long way. Imagine what they’ll do next year!
Hopefully, something that benefits a wider array of people, not just their shareholders.
True, but let’s not deny their business acumen.
I don’t trust financial companies that have such rapid growth. Something could be lurking beneath the surface.
That’s a valid concern. Rapid growth can sometimes hide underlying issues.
I’ll definitely watch how their IPO develops next year after their success!