Mr. Shih, Jiing-Fuh, president of LH Financial Group Public Company Limited or LHFG, revealed that in the first half of 2023, Thai economy continued to expand due to strong domestic demand growth in both private consumption and tourism. The continued economic recovery resulted in an increase in consumer confidence and business sentiment indices. Besides, new integrated financial and investment products were also introduced coupled with the synergy within the financial business group and the strong support from CTBC Bank, major shareholder. As a result, the performance of Land and Houses Financial Group saw a sound expansion.

        Performance for the first half of 2023, Land and Houses Financial Group reported net assets of Baht 292,572 million, an increase of 6.7 percent YoY and net operating profit of Baht 1,201.9 million, an increase of 61.3 percent YoY.

        For the business direction in the second half of the year, Land and Houses Financial Group focuses on sustainable banking and conducting conscious business with accountability for environmental, social and good governance principles, by launching green products and providing assistance to debtors affected by COVID-19 and economic conditions.

        Ms. Chompoonoot Pathomporn, chief executive officer and president of Land and Houses Bank Public Company Limited or LH Bank, revealed that the bank's performance in the first half of 2023 was in line with the plan. The bank is aiming to grow the loan portfolio that generates better returns or the higher yield segment. At the same time, retail lending in both housing loan and personal loan also expanded under appropriate risk management with over 16 percent growth in housing loan from the end of 2022. Moreover, the retail customer base was surging through digital channels and mobile application LHB YOU that meets the needs of individual customers. The launch of B YOU MAX deposit product has also been welcomed thanks to its special interest rate. At present, the bank is developing a new digital lending channel through LHB YOU, which is expected to be available within this year in order to allow customers to gain access to our personal loan just a click away.

        On the juristic customer front, the bank focuses on encouraging more customers to use LH Bank as their operating bank by synergizing the strengths of the companies in the financial group to exploit the customer base effectively. In addition, the bank still focuses on assisting corporate and individual customers who have not fully recovered from the COVID-19 according to their problems and status of each customer in order to provide appropriate and precise solution as well as supporting SME customers who are expanding their businesses, especially in the Eastern Economic Corridor (EEC). Besides, the bank has brought in the expertise from CTBC Bank to develop and extend trade finance and global markets services to uphold the future growth. Moreover, the bank also emphasizes the technology enhancement with digital transformation and Robotic Process Automation (RPA) to enhance productivity and various data analytic tools to grow customer base efficiently.

        For the first half of 2023, the bank posted a net operating profit of Baht 943.6 million, an increase of 119.0 percent YoY, from well expanded interest income as well as proper control and effective management of cost and risk. Net interest income rose by 15.5 percent which the bank put the provision for credit losses based on a conservative basis amounting to Baht 1,011 million, a decrease of 24.0 percent YoY as to support loan expansion and cushion the impact that may occur from the discontinuation of relief measures. Consequently, the bank had a robust coverage ratio of 229 percent while the NPL ratio stood at 2.3 percent. The capital fund remains sturdy. The capital adequacy ratio to risk-weighted assets (BIS Ratio) stood at 15.8 percent, well above the minimum requirement specified by the Bank of Thailand.

        Mr. Monrat Phadungsit, president of Land and Houses Fund Management Company Limited or LH Fund, revealed its strategy in the second half of 2023 that LH Fund will continue expanding the private fund customer base in both institutional and ultra-high net worth. In the first half of the year, the company has adjusted its fund management operations by analyzing data and adjusting several master funds to align with current market conditions and increase opportunities to steadily deliver improved performance. Thai equity fund and real estate investment trust/REIT showed outstanding performance compared to the index whereas provident fund, the company is in the process of developing a system to serve members in the form of target date (Life Path) or investments with automatic rebalancing.

        The business plan for the second half of the year, the company plans to increase the trustee business. Currently, the company acts as a trustee of a real estate investment trust by adding private equity trust, infrastructure trust and trust for real estate backed ICO.

        Mr. Kant Athatamsunthorn, president of Land and Houses Securities Public Company Limited or LH Securities, disclosed the operating results of the first half of 2023 that it was a difficult year for investment sector as a result of the investment atmosphere that was under pressure from many factors, especially the news of some securities that affected the sentiment of the market. However, the company was able to maintain its performance at a satisfactory level. In the first half of 2023, the company's revenue amounted to Baht 296.1 million, a decrease of 6.4 percent YoY following the sluggish trading volume compared to the high base in 2022. At the end of June 2023, the Thai stock market index closed at 1,503.10 points, with a 33 percent drop in average daily turnover. However, the company realized the revenue from other non-brokerage fee businesses including interest income and dividend income totaling Baht 224 million, an increase of 14 percent YoY. As a result, the company posted a net profit of Baht 88.4 million.

        For the second half of 2023, the company still aims to expand its customer base and developing prudent risk management systems to suit the volatility of the investment market to stabilize the revenue structure to shoulder the slowdown during sluggish trading activities. The company also highlights the on-line services, particularly by integrating the system with "LHB YOU" Mobile Banking Application of LH Bank to expand the retail customer base. It also helps increase service channels through digital platforms for customers to receive more convenient and faster services. Besides, the company always puts the great emphasis on sustainable growth through the conscious business operations to environmental, social and good governance principles.