LHFG Reports 2024 Performance with 7% Loan Growth, Unveils 2025 Strategy to Expand Loan Portfolio, Strengthen LHB SME Brand
LHFG News
26 Feb 2025
LHFG Reports 2024 Performance with 7% Loan Growth,
Unveils 2025 Strategy to Expand Loan Portfolio, Strengthen LHB SME Brand,
and Drive Sustainable Growth
Unveils 2025 Strategy to Expand Loan Portfolio, Strengthen LHB SME Brand,
and Drive Sustainable Growth
Mr. Waravoot Tocharoentanapol, President and Head of Finance and Accounting Group at LH Financial Group Public Company Limited (LHFG), stated that while Thailand’s economy continued its gradual recovery in 2024 driven by exports, tourism, and private consumption supported by government stimulus measures challenges remain. The lingering impact of COVID-19, coupled with global economic volatility, rapid technological advancements, environmental concerns, and geopolitical shifts, has required all sectors to adapt to a rapidly evolving landscape.
Despite these challenges, LH Financial Group’s financial businesses demonstrated resilience and growth. In 2024, LHFG recorded a robust 7.3% expansion, bringing total assets to THB 346.86 billion and net profit to THB 2.047 billion an impressive performance, even amidst capital market volatility affecting the securities sector.
Commitment to Sustainable Growth and Governance in 2025
Looking ahead to 2025, LHFG and its subsidiaries remain committed to providing comprehensive financial services while ensuring sustainable growth and strong corporate governance. This commitment is reflected in various prestigious recognitions, including the Excellent Corporate Governance Assessment 2024, SET ESG Ratings, ESG100 Certification, Sustainability Disclosure Recognition, and Carbon Neutral Certificate.
LH Bank Reports Strong 2024 Performance with 18.7% Profit Growth
Mr. Shih Jiing-Fuh, CEO and President of Land and Houses Bank Public Company Limited (LH Bank), highlighted the bank’s strong performance, achieving a net profit of THB 2.01 billion an 18.7% increase from 2023. This growth was driven by loan expansion, higher non-interest income, and stringent loan quality controls. Loans expanded by 6.6%, while the non-performing loan (NPL) ratio remained low at 2.34%, supported by prudent provisioning that resulted in an NPL coverage ratio of 214%.
A significant driver of credit expansion was LH Bank’s strategic focus on its Taiwanese corporate segment, which grew by an impressive 43% in 2024, with strong support from CTBC Bank Taiwan’s leading private bank and LHFG’s majority shareholder. Additionally, home loans saw a 12% increase.
2025 Strategy: Corporate and SME Lending, Digital Transformation, and Sustainability
For 2025, LH Bank aims to expand corporate lending in key industries, enhance trade finance and FX services to support foreign direct investment (FDI), and leverage CTBC Bank’s expertise to acquire high potential clients. The bank continues to upgrade its digital capabilities to develop innovative loan products and financial services.
In the SME sector, LH Bank will focus on financing solutions tailored to business needs while increasing brand awareness through advertising and public relations campaigns. The bank is also expanding its footprint in Thailand’s Eastern Economic Corridor (EEC), a key industrial and investment hub, with the launch of the Amata City Chonburi Business Branch in early second quarter of 2025.
For retail customers, LH Bank will continue to strengthen its position in housing loan market, introduce new deposit products including special rate deposits for wealth clients and foreign currency deposits (FCDs) and expand its customer base through strategic partnerships and marketing initiatives.
Sustainability remains a core priority, with plans to support customers in reducing greenhouse gas emissions through green loans and transition loans, in collaboration with industry partners and environmental consulting firms.
Mr. Monrat Phadungsit, President of Land and Houses Fund Management Company Limited (LH Fund), expressed that, in 2025, the company is obliged to raising its standards to become a leading fund management company by promoting flagship funds with outstanding performance, emphasizing sustainable and flexible investment to cater for all market conditions, and maintaining the quality of the fund's performance at a high level continuously to build confidence and address investors' financial goals.
LH Fund will select funds with excellent performance (Best-in-Class) both feeder fund and foreign investment fund along with new investment strategies in the new economy era to expand growth opportunities for investors and prepare IPOs of stock funds and fixed-income funds that respond to the world's changes from a globalized economic system to a multi-polar economic system (Multi-polar Model) including expanding product diversity with funds linked to the volatility index to meet investors' needs in all market situations. For private funds, the customer base will be expanded by designing investment products and services that fulfill specific needs. For the provident fund (PVD), the company has constantly developed the life path system, which will automatically rebalance members' investment portfolios throughout the PVD membership. For Real Estate Investment Trusts (REITs), the company has a plan to increase asset value through organic and inorganic growth and has a plan to purchase new assets coupled with asset adjustments in the portfolio to sustainably generate value added for investors.
Fund management performance at the end of 2024, the company had a net asset under management (AUM) including property funds and real estate investment trusts (REITs) totaling Baht 63.992 billion, an increase of approximately 15 percent from 2023. For private funds, the fund size is Baht 14.152 billion and the provident fund (PVD) had a fund size of Baht 9.641 billion.
Mr. Kant Athatamsuntorn, President of Land and Houses Securities Public Company Limited (LH Securities), announced that the overall securities business in 2024 is a challenging year for the securities business, as reflected by the Thai stock market, which has been volatile and continuously slumping. The Stock Exchange of Thailand Index closed at 1,400.21 points, down 1.1 percent, marking the first two consecutive years of declines in over two decades. Dump sales from foreign investors were the main pressure, which accounted for 50 percent of the total trading value with net sales of Baht 147 billion. The average daily trading value was Baht 46.55 billion, down 13 percent from the previous year.
In 2024, the company introduced investment advisory services to increase its income from securities underwriting fees and investment advisory to compensate for the decline in brokerage income and developed service channels by connecting to the LHB You application of Land and Houses Bank to provide customers with convenient and fast services. For the performance in 2024, brokerage income was Baht 101.3 million, a decrease of 23 percent compared to 2023, mainly from the contraction in trading volume of the Thai stock market, which affected brokerage income for the entire industry.
For the strategy in 2025, the company focuses on generating passive incomes from businesses other than brokerage income such as interest income from margin loan, dividend income, and income from securities underwriting fees and investment advisory and develops technology systems to acquire more customers and drive engagement of existing customers via convenient, fast and secure services, along with efficient cost management.
Despite these challenges, LH Financial Group’s financial businesses demonstrated resilience and growth. In 2024, LHFG recorded a robust 7.3% expansion, bringing total assets to THB 346.86 billion and net profit to THB 2.047 billion an impressive performance, even amidst capital market volatility affecting the securities sector.
Commitment to Sustainable Growth and Governance in 2025
Looking ahead to 2025, LHFG and its subsidiaries remain committed to providing comprehensive financial services while ensuring sustainable growth and strong corporate governance. This commitment is reflected in various prestigious recognitions, including the Excellent Corporate Governance Assessment 2024, SET ESG Ratings, ESG100 Certification, Sustainability Disclosure Recognition, and Carbon Neutral Certificate.
LH Bank Reports Strong 2024 Performance with 18.7% Profit Growth
Mr. Shih Jiing-Fuh, CEO and President of Land and Houses Bank Public Company Limited (LH Bank), highlighted the bank’s strong performance, achieving a net profit of THB 2.01 billion an 18.7% increase from 2023. This growth was driven by loan expansion, higher non-interest income, and stringent loan quality controls. Loans expanded by 6.6%, while the non-performing loan (NPL) ratio remained low at 2.34%, supported by prudent provisioning that resulted in an NPL coverage ratio of 214%.
A significant driver of credit expansion was LH Bank’s strategic focus on its Taiwanese corporate segment, which grew by an impressive 43% in 2024, with strong support from CTBC Bank Taiwan’s leading private bank and LHFG’s majority shareholder. Additionally, home loans saw a 12% increase.
2025 Strategy: Corporate and SME Lending, Digital Transformation, and Sustainability
For 2025, LH Bank aims to expand corporate lending in key industries, enhance trade finance and FX services to support foreign direct investment (FDI), and leverage CTBC Bank’s expertise to acquire high potential clients. The bank continues to upgrade its digital capabilities to develop innovative loan products and financial services.
In the SME sector, LH Bank will focus on financing solutions tailored to business needs while increasing brand awareness through advertising and public relations campaigns. The bank is also expanding its footprint in Thailand’s Eastern Economic Corridor (EEC), a key industrial and investment hub, with the launch of the Amata City Chonburi Business Branch in early second quarter of 2025.
For retail customers, LH Bank will continue to strengthen its position in housing loan market, introduce new deposit products including special rate deposits for wealth clients and foreign currency deposits (FCDs) and expand its customer base through strategic partnerships and marketing initiatives.
Sustainability remains a core priority, with plans to support customers in reducing greenhouse gas emissions through green loans and transition loans, in collaboration with industry partners and environmental consulting firms.
Mr. Monrat Phadungsit, President of Land and Houses Fund Management Company Limited (LH Fund), expressed that, in 2025, the company is obliged to raising its standards to become a leading fund management company by promoting flagship funds with outstanding performance, emphasizing sustainable and flexible investment to cater for all market conditions, and maintaining the quality of the fund's performance at a high level continuously to build confidence and address investors' financial goals.
LH Fund will select funds with excellent performance (Best-in-Class) both feeder fund and foreign investment fund along with new investment strategies in the new economy era to expand growth opportunities for investors and prepare IPOs of stock funds and fixed-income funds that respond to the world's changes from a globalized economic system to a multi-polar economic system (Multi-polar Model) including expanding product diversity with funds linked to the volatility index to meet investors' needs in all market situations. For private funds, the customer base will be expanded by designing investment products and services that fulfill specific needs. For the provident fund (PVD), the company has constantly developed the life path system, which will automatically rebalance members' investment portfolios throughout the PVD membership. For Real Estate Investment Trusts (REITs), the company has a plan to increase asset value through organic and inorganic growth and has a plan to purchase new assets coupled with asset adjustments in the portfolio to sustainably generate value added for investors.
Fund management performance at the end of 2024, the company had a net asset under management (AUM) including property funds and real estate investment trusts (REITs) totaling Baht 63.992 billion, an increase of approximately 15 percent from 2023. For private funds, the fund size is Baht 14.152 billion and the provident fund (PVD) had a fund size of Baht 9.641 billion.
Mr. Kant Athatamsuntorn, President of Land and Houses Securities Public Company Limited (LH Securities), announced that the overall securities business in 2024 is a challenging year for the securities business, as reflected by the Thai stock market, which has been volatile and continuously slumping. The Stock Exchange of Thailand Index closed at 1,400.21 points, down 1.1 percent, marking the first two consecutive years of declines in over two decades. Dump sales from foreign investors were the main pressure, which accounted for 50 percent of the total trading value with net sales of Baht 147 billion. The average daily trading value was Baht 46.55 billion, down 13 percent from the previous year.
In 2024, the company introduced investment advisory services to increase its income from securities underwriting fees and investment advisory to compensate for the decline in brokerage income and developed service channels by connecting to the LHB You application of Land and Houses Bank to provide customers with convenient and fast services. For the performance in 2024, brokerage income was Baht 101.3 million, a decrease of 23 percent compared to 2023, mainly from the contraction in trading volume of the Thai stock market, which affected brokerage income for the entire industry.
For the strategy in 2025, the company focuses on generating passive incomes from businesses other than brokerage income such as interest income from margin loan, dividend income, and income from securities underwriting fees and investment advisory and develops technology systems to acquire more customers and drive engagement of existing customers via convenient, fast and secure services, along with efficient cost management.