2022 Performance and Synergy Realization
1
① Balance sheet and cost synergies already ahead of plan with increasing tb
momentum on revenue synergy
5-year synergy value
(shared to investors on 24 Jan 2020)
Progress-to-date
(accumulated as of 4Q22)
Balance sheet synergies
Revenue synergies
Cost synergies
~1+3 bn
THB 5.3 bn
I
I
-3-5 bn
THB 1.6 bn
I
I
~10-12 bn
I
2020
2021
2022
2023
2024
THB 12.3 bn
•
•
•
Balance sheet optimization strategy achieved and continue as
shown in decline in COD
COD declines from 1.06% in 1Q20 to 0.53% in 2Q21
(vs. -38 bps of the industry) allowing more cushion to
manage long-term COD via fixed deposit in 2022
Revenue synergy start to kick-in and to be further realized from
business transformation
-
Maximize CYC business from larger customer base of car
owner and replicate its strategy to home equity
+31% YoY in credit card spending, +86% YoY in Flash card
and +208% YoY in C2G drawdown
Digital capability enhancement via new ttb Touch to
capture banking revenue stream and strengthen customer
engagement via ecosystem play
Cost synergy captured faster than plan through on-going branch
optimization, headcount rationalization, and marketing synergy
326 branches closed
4.2k staff reduction and redeployed
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