Bangkok: SCBX announced a profit of 10,195 million baht in the first quarter of 2026, reflecting an 18.5% decrease from the previous year. This decline was primarily driven by a 13.7% reduction in net interest income and a significant 66.5% contraction in investment profits, despite observing a 17.7% increase in fee income and a 3.4% expansion in loans. The company also ventured into a new partnership with KakaoBank and WeBank to launch 'BankX', a branchless banking initiative.
According to Thai News Agency, SCB X Public Company Limited's net interest income for the first quarter amounted to 26,781 million baht, marking a 13.7% decline from the previous year. This was attributed to five policy interest rate cuts since 2025. Despite this, loan growth was recorded at 3.4%, driven by large corporate and housing loans.
Fee and other income rose by 17.7% to 11,962 million baht, spearheaded by wealth management and increased activity in investment banking and capital markets. Conversely, income from investments and trading saw a steep decline of 66.5%, reaching 568 million baht, influenced by reduced profits from SCB TenX Co., Ltd.'s investment portfolio.
Operating expenses were controlled, decreasing by 2.3% to 16,662 million baht, resulting in a quarter expense-to-income ratio of 42.4%. The company's provisions fell by 4.4% due to improved expected credit loss ratios, with non-performing loan ratios slightly reduced to 3.23% from 3.29% in the previous quarter.
Mr. Arthit Nantawittaya, CEO of SCB X Public Company Limited, highlighted the macroeconomic challenges faced due to prolonged conflict in the Middle East, impacting energy prices and costs across sectors. SCBX's strategic focus remains on supporting customers and businesses through impact assessments and adaptation strategies, ensuring resilience in high-potential customer segments.
In a strategic move, SCBX launched BankX in partnership with KakaoBank and WeBank, aiming to expand digital financial services and enhance customer experiences. This initiative is anticipated to play a crucial role in creating sustainable long-term value for the SCBX Group.