TIDLOR Posts 10% Profit Growth, NPL at 1.88%

Ngern Tid Lor Public Company Limited (TIDLOR) reported robust operational results for the first three quarters of 2024, with a net profit of 3.186 billion baht, marking a 10.3% year-on-year (YoY) growth. Total revenues increased by 19.5% (YoY), attributed to higher interest income from credit loan business expansion, strategic adjustments in net interest margin, and continued growth in fee and service income from the insurance brokerage business.
For Q3/2024, TIDLOR recorded total revenue growth of 16.1% YoY, achieving net profits of 990.6 million baht. Its outstanding loan portfolio reached 102.7 billion baht, an 11.8% increase (YoY). The company successfully maintained its non-performing loan (NPL) ratio at 1.88%, well below the 2% target, with an NPL coverage ratio of 230.6%.
The insurance brokerage segment also posted strong results, with accident insurance premiums growing by 15.1% (YoY) to 2.377 billion baht in Q3. TIDLOR’s InsurTech platform, developed over a decade, continues to drive business expansion by offering diverse products and sales channels. Operating under the brand “Prakan Tidloh,” its network includes over 5,000 expert brokers at 1,747 branches nationwide. Additionally, the “Areegator” online platform supports over 9,000 partner brokers, while the “Heygoody” digital platform enables customers to purchase insurance online 24/7 with instant coverage.
Chief Executive Officer Mr. Piyasak Ukritnukul highlighted the company’s ability to maintain profitability through effective cost management and risk-based interest rate strategies. “We are confident in our ability to keep the NPL ratio under 2% while continuing to grow our loan and insurance businesses,” he said. He also noted the company’s strong financial position, supported by an “A/Stable” credit rating from TRIS Rating.
Looking ahead, TIDLOR anticipates further growth in loans and insurance brokerage in the next quarter. The company is also progressing with its restructuring plan, with Tidlor Holdings expected to be listed on the Stock Exchange of Thailand by Q1 2025, pending regulatory approval.
For updates, visit www.tidlorinvestor.com.