Mitihoon – Ngern Tid Lor Public Company Limited (“NTL” or the “Company”) announced robust financial results for the first quarter of 2025, posting a record-high net profit of THB 1,218 million, an increase of 10.3% YoY and a 16.6% QoQ. Total revenue reached THB 5,640.4 million, rising 6.2% YoY, driven by strong growth across both the lending and insurance brokerage businesses, alongside effective cost management.
As of the end of Q1/2025, the company’s total loan portfolio stood at THB 104,719.4 million, growing 4.6% YoY and 0.8% QoQ. The number of lending customers rose by 10% YoY, reflecting continued expansion through over 1,800 branches nationwide and ongoing technology development efforts to enhance customer service.—particularly the “Tidlor Card.” By March 2025, over 741,000 cards had been issued, up 7% from the previous year. Additionally, more than 71% of total loan disbursment were processed via Ngern Tidlor’s application direct transfer feature (E-Withdrawal), underscoring the efficiency of leverage digital innovation in enhancing financial access and lending service efficiency
Meanwhile, the insurance brokerage business also experienced robust growth. In Q1/2025, the company recorded total non-life insurance premiums of THB 2,772.2 million, an increase of 8.7% YoY. This growth was driven by a comprehensive product covering auto, personal, and property insurance, as well as a wide range of accessible distribution channels supported by the company’s InsurTech capabilities. Shield Insurance, a market leader in face-to-face insurance brokerage, offers personalized advisory services through more than 5,000 licensed insurance agents at Ngern Tidlor branches and via the 1501 call center, which operates 24/7, assisting customers from purchase to claims servicing. Additionally, Areegator, an online insurance brokerage platform for agent networks, and heygoody.com, a digital insurance brokerage platform offering a seamless 24/7 self-purchase experience, have continued to receive strong customer engagement and positive feedback.
Mr. Piyasak Ukritnukun, Managing Director, stated that Thailand’s economic conditions remained fragile in the first quarter, with household debt levels still elevated. This has led to an increased demand for accessible sources of financing. Under this backdrop, NTL expanded its lending customer base by 10% YoY while maintaining a prudent approach to new loan origination to ensure portfolio quality at a healthy and manageable level. As a result, the Non-Performing Loan (NPL) ratio improved to 1.78% at the end of Q1/2025, declining from the previous quarter. This improvement was driven by enhanced credit approval policies and more efficient debt collection processes. This also contributed to a lower credit cost of 2.96%, compared to the same period last year, while the NPL coverage ratio remained high at 255.7%.
NTL continues to uphold a strong financial position, with over THB 24 billion in available credit facilities. The company retains a credit rating of “A/Stable” from TRIS Rating, the highest rating in the industry, demonstrating our financial strength and readiness to pursue sustainable growth amid ongoing economic uncertainty.
In the insurance brokerage segment, the company continues to strategically leverage its InsurTech platforms as a key driver to broaden its customer base and address unmet market needs, thereby supporting sustained business expansion.
Regarding corporate restructuring, the company is proceeding as planned. Tidlor Holdings Public Company Limited (“Tidlor Holdings”) is expected to be listed on the Stock Exchange of Thailand in mid-May 2025 under the existing ticker symbol “TIDLOR.” Shareholders and investors can find more information at www.tidlorinvestor.com.
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