Bangkok: Land and Houses Financial Group has announced a net profit of 1,121 million baht for the first half of 2025, marking a 25.8% increase from the previous year.
According to Thai News Agency, LH Bank also reported a net profit of 1,103 million baht, up 30.3%, with loans experiencing a growth of 3.4%.
Mr. Worawut Tocharoenthanapol, President and Head of Finance and Accounting at LH Financial Group Public Company Limited, highlighted expectations for the Thai economy to grow by 1.3-2.3% year-over-year in 2025. This growth is supported by government investments and accelerated exports before US import tariffs come into effect. However, challenges such as high household and corporate debt, US trade barriers, and geopolitical tensions remain.
The financial group's total assets rose by 17.3% to 361,287 million baht compared to the previous year. The Thaipat Institute recognized the group for its outstanding environmental, social, and governance operations, marking its 10th consecutive year on the list. Additionally, the group received certifications for Carbon Footprint for Organization and Carbon Neutral status in 2024, offsetting nearly 4,000 tons of carbon dioxide equivalent.
Mr. Chee Ching-fu, CEO and Managing Director of Land and Houses Bank, reported a 9.3% increase in retail loans and a 1.8% rise in business loans. The bank has expanded its SME loan offerings with tailored products and increased its retail customer base by 13%. The bank maintains a non-performing loan ratio of 2.59% and a Tier 1 capital ratio of 15.73%.
Looking ahead to the second half of 2025, the bank plans to expand SME loans and enhance its digital banking services. It aims to develop AI technology to improve customer service and expand wealth management services through the 'Family Banking' project.
Mr. Manat Phadungsit, Managing Director of LH Fund, noted a 4.5% increase in net assets of mutual funds, totaling 66,900 million baht. The company plans to enhance sustainable growth by developing flexible investment solutions and expanding the provident fund business.
Mr. Kant Atthamathamsunthon, Managing Director of LH Securities, reported a decline in the Thai stock market due to political and economic pressures. The Stock Exchange of Thailand index fell by 22.2% from the end of 2024. The company's strategy focuses on generating passive income and developing new services, including foreign securities trading.
The comprehensive growth strategies and strong financial performance underscore Land and Houses Financial Group's resilience and commitment to sustainable banking practices.