Finance companies in Thailand posted a combined net profit of $190.69 million (THB6.2 billion) in Q4 2024, up 9% year-on-year, based on data from UOB Kay Hian.
For the full year, Muangthai Capital, Krungthai Card, Srisawad Corporation, and Tidlor Holdings recorded an 8% YoY increase in net profit to $753.53 million (THB24.5 billion).
Total loans across the sector grew 5% YoY in the fourth quarter, with the loan portfolio also expanding 5% for the full year 2025.
Although credit costs declined overall for the year, Sawad and Tidlor experienced higher credit costs in Q4, according to Thanawat Thangchadakorn.
Looking ahead to 2026, Thangchadakorn expects a slight increase in credit costs—by around 11 basis points year-on-year—even as lenders maintain cautious lending practices. Most companies under coverage, except KTC, have set double-digit loan growth targets.
The anticipated formation of a new cabinet is also seen as a positive for the sector, with expectations that government spending and stimulus measures will support economic activity. This could lead to improved debt collection and better asset quality in the second half of 2026.
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