Corporate Information

Message from the chairman

Dear Shareholders,

2017 was a good year for the Company. Although competition was intense, the Company still managed to achieve a record factoring volume of Baht 29,624 million in 2017, an increase of about 10%. Our loans & advances (including Leasing/Hire Purchase) also grew faster than the previous year, increasing by 44%.

There was a marginal decline in our Net Interest Margin (NIM) by 1% and bad debt provisions were stable. As a consequence, the Company was able to report a record net profit after tax of Baht 151.44 million in 2017 or up 11% from 2016. Earnings per share of the Company was correspondingly higher from Baht 0.28 in 2016 to Baht 0.31 in 2017 or an increase of 11%.

The Board of Directors of IFS is therefore pleased to propose a dividend payment of Baht 0.152 per share or 15.20 Satang per share totaling Baht 75.01 million, representing a payout ratio of 50.31% of the net profit of 2017 after provision for legal reserve. This dividend proposal will be subject to the approval of shareholders at the Annual General Meeting.

For 2018, the Thai economy is expected to grow at a faster pace with GDP projected to grow in the range of 4.0% - 4.5% on the back of an improving Global Economy. In tandem, we expect our factoring and equipment finance businesses to continue growing in 2018. The Company will continue to explore new financial products and services to expand our revenue base as well as opportunities to diversify into new businesses that will provide a strong foundation for future growth.

IFS will continue to adhere and ensure that the Company’s success must come with good corporate principles, moral, fairness, ethics, transparency and corporate social responsibility towards sustainability. The Company has participated and has been certified as a member of the Private Sector Collective Action Coalition Against Corruption (CAC) since August 2017.

On behalf of the Board of Directors, I wish to thank all our shareholders, clients, business partners, bankers and all other stakeholders for your continuous support. I would also like to thank the management and staff for their dedication and commitment to make IFS into a Company that is well respected in the industry and in Thailand.

Tan Hai Leng, Eugene