In 2023, Thai economy gradually began to recover, largely driven by private consumption and tourism sector. Meanwhile, exports declined following the demand from trading partners which was affected by tighter monetary policy and surging energy prices. Overall investments decelerated during the government transition while waiting to see the clarity of government policy.

        Economic outlook in 2024, Thailand’s economy is expected to expand continuously with many supporting factors including export sector, tourism sector, private consumption, employment in the service sector and government stimulus measures. However, economic recovery still requires monitoring of several risk factors in the period ahead, for instance, high policy rate of major economies, slowdown of Chinese economy, ongoing geopolitical problems such as the Russian-Ukrainian war, Israel-Hamas conflict, default risk of corporate bonds and high levels of household debt. All of these factors still pose challenges to the recovery of Thai economy in the next stage.

        In 2023, Land and Houses Bank Public Company Limited reported good operating results, with net profit of Baht 1,693.0 million, increased by 54.84 percent from 2022, and assets of Baht 316,339.1 million, grew by 6.9 percent year on year. The bank placed importance on operating a sustainable banking by taking into account environmental, social and governance factors. The bank has, therefore, established a sustainable framework for its operations as to drive the organization's operations towards the goal of lessening greenhouse gases and lowering environmental problems according to the Sustainable Development Goals (SDGs) of the United Nations. The company has reduced greenhouse gas emissions and set the target for reducing greenhouse gas emissions by 25 percent within 2030 plus the plan to eliminate greenhouse gas emissions among customer segments by providing loans to promote their business operations with environmental sustainability consciousness and investments during their transition to a low-carbon community. The bank has an ambition to be a bank with sustainable growth through expanding the target customer base through digital channels, alliance network and deep expertise. For the  strategy in 2024, the bank aims to grow the loan portfolio that generates good returns (Higher Net Interest Margin) by managing effective cost of fund and yield enhancement along with appropriate risk management, designing new products and services to expand the customer base in the target segment, increasing fee income from selling investment products, insurance and foreign exchange services, cross-selling products of the bank and enabling various digital capabilities as well as leaning work processes to be efficient and fast.

        The company would like to thank our valued customers, shareholders and all stakeholders for their trust and continued support for Land and Houses Bank Public Company Limited.