Equity Analysis /

Ngern Tid Lor: Digital platform driving profit growth

  • No concerns over intensifying competition

  • Effect of higher funding costs to be mitigated by a higher yield

  • Ongoing solid insurance premium sales expansion

Poramet Tongbua
Poramet Tongbua

Equity Research Analyst

Bualuang Securities
8 December 2022

We hosted a virtual conference on Dec 6, 2022 at which TIDLOR executives addressed local investors. The finco looks set to generate good earnings growth for years ahead, supported by competitive advantages.

No concerns over intensifying competition

TIDLOR isn’t worried about intensifying competition, as it does not expect new entrants to non-bankable lending space to offer interest rates that compete profitably with its rates. And the finco believes that its compet-itive advantages—such as the IT platform and the Tidlor Card—combined with sales-point expansion will help it sustain and build its client base. TIDLOR anticipates having 2,500 sales points within 3-5 years. Management targets increasing the number of sales points by 25-30% YoY and the loan portfolio by 25-30% YoY in 2022.