MTC Shareholders Approve Dividend Payment for Fiscal Year 2023 at a Rate of 0.21 Baht per Share, Ex-Dividend on April 29, Pay on May 16, Targeting 20% Loan Portfolio Growth in 2024, Aiming for World Class Thai Microfinance

Shareholders of Muangthai Capital Public Company Limited (MTC) vote to approve cash dividend for Fiscal Year 2023 at a Rate of 0.21 Baht per Share, XD on April 29, set to pay on May 16. Company Executive, "Parithad Petampai," Announces Plans to Drive the Organization Towards Global Finance Excellence, Aiming for 20% Loan Portfolio Growth in 2024, Confident in Keeping NPLs Below 3.2%.

Mr. Parithad Petampai, Deputy Managing Director of Muangthai Capital Public Company Limited (MTC), disclosed that during the annual shareholders' meeting for the year 2023 held on April 23, 2024, a resolution was passed to approve the payment of cash dividends from the operational results of the year 2023 (January-December 2023) at a rate of 0.21 Baht per share, with XD marking on April 29, 2024, and dividend payment on May 16, 2024.

"In the past year, MTC's operational performance has continued to strengthen and meet our set goals, despite high market competition, global economic slowdown, and geopolitical conflicts. The high-interest rate policy over the past 10 years has been a factor pressuring purchasing power and customers' debt repayment abilities."

MTC has adjusted its business operation strategies by tightening credit release and concurrently managing customers with debt repayment issues, following the sustainable debt restructuring policy of the Bank of Thailand (BOT).

Nevertheless, in the fourth quarter of 2023, the company's total revenue was 6,555 million baht, an increase of 16.8% compared to the same period the previous year, which had total revenue of 5,611 million baht. The net profit was 1,351 million baht.

By the end of 2023, the loan portfolio stood at 143,318 million baht, growing by 18.8% compared to the previous year, which was at 120,613 million baht. Total revenue for the full year 2023 was 24,526 million baht, a 22.2% increase compared to the previous year's 20,068 million baht, with a full-year net profit of 4,906 million baht.

MTC's Deputy Managing Director also stated that the company's operations plan for 2024 aims to increase credit releases in all products by 20%. The loan portfolio target is to increase from 143,318 million baht to 170,000 million baht, aiming to expand access to capital through over 7,500 branches nationwide. This is to ensure financial inclusivity across the country, develop customer services to be impressive in all aspects and meet global standards, and set a target to control Non-Performing Loans (NPL) to not exceed 3.2%. The plan includes sourcing capital through loans from domestic and international financial institutions, as well as issuing bonds.

MTC is committed to elevating its credit services to become a high-quality source of capital in line with global standards (World-class Thai Microfinance). This includes aligning with various international organizations such as the Japan International Cooperation Agency (JICA) and the German Government's Development Bank (KFW DEG) to mobilize financial resources for the general public comprehensively. This is done under the principles of ethics, respect for rights, preserving benefits, and meeting customer expectations to the highest degree of satisfaction.

MTC has been assessed and supervised at a “excellent” (5-star) level, including Sustainable Equity Assessment (ESG Rating) from the Stock Exchange of Thailand at an A level and MSCI Index assessment at AA level. This reflects leadership in the microfinance credit business with responsibility and fairness, aiming to build financial stability and strengthen the economy alongside sustainable social growth in Thailand.