Mr. Waravoot Tocharoentanapol, President and Head of Finance and Accounting Group of LH Financial Group Public Company Limited or LHFG revealed that in 2025, the Thai economy is likely to grow by 1.3 - 2.3% YoY, according to the forecast by Office of the National Economic and Social Development Council (NESDC) (Data as of May 2025). This growth is primarily driven by government investment that is expected to expand well following the adjustment to increase the investment expenditure budget framework for the fiscal year 2025. Additionally, exports accelerated in the first half of the year, prior to the U.S. tariff measure taking effect. However, private investment is likely to decline, in line with the weak manufacturing sector whilst the Thai economy is still facing several risk factors, for instance, high levels of household debt and corporate debt, uncertainties spurring from the U.S. trade protectionism policy and prolonged geopolitical conflicts.

        For the performance in the first half of 2025, Land and Houses financial business group posted a net profit of Baht 1,121 million, surfing by 25.8%, with total assets of Baht 361,287 million, up by 17.3 % from the same period of the previous year. Land and Houses financial business group carries out its business under good governance and transparency with the aim for sustainability that considers the impact on the economy, society, and environment (Sustainable Business). Consequently, the company has been selected by the Thaipat Institute as 1 of the 100 listed firms with outstanding performance in environmental, social, and governance business operations in 2025 (Environmental, Social, and Governance: ESG) for the 10^th consecutive year. The company has also been certified by the Carbon Footprint for Organization (CFO) and Carbon Neutral in 2024 from the Thailand Greenhouse Gas Management Organization (Public Organization), for its substantial support for domestic emission reduction initiative to combat global warming. In 2024, the company offset 3,998 tons of CO₂e.

        Mr. Shih, Jiing-Fuh, CEO and President of Land and Houses Bank Public Company Limited or LH Bank disclosed the performance of LH Bank for the first half of 2025 with a net profit of Baht 1,103 million, increasing by 30.3% YoY. Loans sprang up by 3.4% from the end of 2024, mainly from the increase in retail loans and corporate loans amounting to 9.3% and 1.8%, respectively. The bank also expanded SME loans by tailoring loan products for specialized industries which caused the new SME lending programs to grow significantly from the end of 2024. In addition, the bank has garnered its retail customer segment by 13%, with the success story of “B-You Max”, digital savings product and growing wealth management business.

        The bank has also leveraged the network of CTBC Taiwan, its parent company, to continuously grow the international customer segments, especially from greater China which contributed a lot to its trade finance and foreign exchange business. Moreover, the bank still maintains its asset quality with a non-performing loan (NPL) ratio of 2.59% and NPL coverage of 173%, and adequate capital fund with Tier 1 capital adequacy ratio and BIS ratio of 15.73% and 17.81%, respectively.

        For the second half of 2025, the bank will continue to boost up SME loans via lending programs along with providing the new corporate e-banking / mobile banking systems “LHB Biz Connect” in both Thai Baht and foreign currencies in advance payment and trade finance services. For retail customers, the bank will continue focusing on quality housing and personal loans. Besides, the bank will develop AI technology and applications to drive excellence in servicing its customers even better. The bank is also accelerating the expansion of the wealth management services through the “Family Banking” project, providing exclusive privileges to the wealth segment and serving the needs to their next generation.

        LH Bank runs its business under the principles of good governance and transparency towards sustainability by taking into account the impact on economy, society and environment (Sustainable Banking), granting green loans and transition loans (Transition Finance), providing advisory services for customers seeking to shift to a low-carbon economy, and implementing the “You Fight, We Help” measure to help the debt-laden debtors in accordance with the guidelines of Bank of Thailand.

        Mr. Monrat Phadungsit, President of Land and Houses Fund Management Company Limited or LH Fund, unveiled that the operating results for the first half of 2025 recorded the net assets of mutual funds including property fund and REITs of Baht 66,900 million, an increase of approximately 4.5% from the end of 2024. Private funds had a fund size of Baht 13,093 million and provident funds (PVD) of Baht 9,596 million.

        For the second half of 2025, the company will continue to drive proactive strategies to foster sustainable growth by adjusting the roles of the team to be able to manage all types of investment products more flexibly and comprehensively. It will also adjust the growth journey of assets under management (AUM) by focusing on building long-term relationships with high-net-worth customers, institutional and corporate customers by offering solutions beyond investment. For private fund customers, the company has developed investment solutions and products that better capture individual needs and proactively gear up provident funds by targeting groups of companies that have not yet established their provident funds, etc.

        Mr. Kant Athatamsuntorn, President of Land and Houses Securities Public Company Limited (LH Securities), mentioned the overall securities business in the first half of 2025 that the Thai stock market was constantly declining thanks to both domestic and international pressures such as growing concerns about political stability, economic conditions, U.S. reciprocal tariffs, Thai stock market's weight downgrade by MSCI, and geopolitical conflicts and so on. As a result, the index has plummeted more than most other regional stock exchanges since the beginning of 2025. The SET index closed at 1,089.56 points, 22.2% by the end of the second quarter, down from the end of 2024, with an average daily trading value shrinking to Baht 41,856 million. The operating results for the first half of 2025 showed the brokerage income of Baht 40.2 million, slowing down compared to 2024, due mainly to the contraction in trading volume of Thai stock market.

        Our strategy still focuses on conservative growth, emphasizing the generation of passive incomes containing dividend income and securities underwriting fee income and financial advisory services. We will also develop and roll out new services and products, for example, offering foreign securities trading services, developing technological systems to facilitate customers, increasing engagement of existing customers with convenient, fast and secure services with effective cost management.