Press Releases
MTLS Charges Ahead with Full-Throttle Grassroots Loan Growth! Aims for 2016 with No Less Than 50% Growth in Revenue-Profit; Continuous New Highs in Net Profits; Dominates No. 1 Loan Provider for Nano Finance in Thailand
'Muangthai Leasing' (MTLS) is aggressively penetrating the grassroots loan market at full capacity. The target for 2016 is a loan growth of no less than 50% in revenue and profit, setting consecutive new statistical records. Showcasing the impressive performance of 2015 with a net profit of 825 million baht, a 51.62% increase. Holding the leadership position in the loan market, specifically in nano finance in Thailand, the company's shareholders rejoice! Receiving dividends of 0.20 baht per share on May 13th.
Mr. Chuchat Petaumpai, CEO of Muangthai Leasing Public Company Limited (MTLS), disclosed the operational plans for 2016. The goal is to achieve a loan growth of no less than 50%, following the expansion strategy implemented across Thailand in recent years. This year's plan includes an additional 450 branches, with preparations to open another 400 in 2017, totaling 1,750 nationwide, compared to over 900 branches across the country at the end of 2015
"The trend for the upcoming two years (2016-2018) indicates a projected annual loan growth of at least 50%. This follows our strategy of opening branches nationwide to expand our customer base. The response has been overwhelmingly positive, evident from the loan growth in 2015, surpassing 20 billion baht, exceeding the set target of 16.5 billion baht, surpassing all companies within the same category registered in the Non-Bank market"
In the fiscal year 2015, the company achieved a net profit of 825 million baht, an increase of 280.88 million baht or 51.62% compared to the same period in the previous year, marking a new record since its establishment.
The loan portfolio in 2015 reached 12,630 million baht, increasing by 5,182 million baht or 70% compared to the end of 2014, with outstanding credit portfolios at 7,448 million baht.
"Our loan portfolio in the past year grew by over 70% compared to the same period in the previous year. We can confidently say that our loan portfolio growth surpasses all companies registered in the Non-Bank market after the company accelerated branch expansions nationwide, meeting the demand for credit at the grassroots level, which has limitations in accessing funding" Mr. Chuchat concluded.
Furthermore, the company introduced two new products, including land loans and nano finance. Presently, the company leads as the number one in the nano finance loan market in Thailand, with approximately 95% of the total national portfolio. The average loan growth exceeds 22 million baht per month, aligning with the government's policy to assist low-income individuals in accessing financial institutions' loan sources. For 2016, the company aims to growth 500 million baht in nano finance.
Additionally, during the Board meeting, it was decided to distribute dividends for the fiscal year 2015 at a rate of 0.20 baht per share. The record date for shareholders entitled to receive dividends is April 29th, 2016, with the register closing on May 3rd, 2016, and the dividend payment scheduled for May 13th, 2016, as per Securities and Exchange Act, Section 225