Bangkok : SCB X Public Company Limited (SCBX) has reported a consolidated net profit of Baht 43.5 billion in 2023, a 15.9% yoy increase.


           Total operating income rose by 10.8% yoy to Baht 171.1 billion. Operating expenses increased by 2.7% yoy to Baht 71.8 billion, leading to a significant decrease in the cost-to-income ratio to 42%, down from the previous year’s 45.2%. This reflects our commitment to effective cost management and the ongoing effort to increase operational efficiency.

The company set aside provisions of Baht 43.6 billion for 2023, a 28.9% yoy increase, as a prudent response to preemptively provide a cushion for global geopolitical uncertainties and an uneven economic recovery in Thailand. The non-performing loan (NPL) coverage ratio remained at 160%, consistent with last year's level.


           Overall asset quality is well under control. The NPL ratio was 3.4% at the end of 2023, slightly higher than the 3.3% recorded at the end of 2022. The capital adequacy ratio remained strong at 18.8% and the Return on Equity (ROE) at the end of 2023 stood at 9.3%.



Arthid Nanthawithaya, Chief Executive Officer of SCBX , commented:


        “In 2023, SCBX focused on providing assistance to customers who continue to be affected by the COVID-19 crisis. Amid uneven domestic economic recovery, high household debt, and rising external risks, the company grew its unsecured consumer loans by 24% from the previous year, with outstanding loans in this segment amounting to approximately Baht 165 billion. This was in response to the Thai government's policy on financial inclusion for low-income segment. In addition, the company was actively promoting convenient accessibility through our digital channels for retail investors to purchase SCBX’s debentures which offered a stable-return alternative despite highly volatile capital market conditions.


        In the next phase of our strategy, the company will focus on improving efficiency, appropriately managing costs, developing technological capabilities, and enhancing financial stability. This approach aims to position SCBX as a key engine of economic development, expanding services to our customers, and creating shareholder value."



SCBX – Financial Highlight