118 Total lending of Thai commercial banks in 2021 increased from the prior year, mainly due to the expansion of corporate loans and loans to small and medium-sized enterprises (SMEs). Meanwhile, household loans increased, mainly due to the increase in mortgage loans; however, hire purchase loans decreased. On the other hand, deposits increased in line with loan expansion. As regards NPLs, non-performing loans increased continuously in line with the economic slowdown. The Thai economy in 2022 tends to recover and it is expected to grow by 3.5 - 4.5 percent, based on the forecast made by the Office of the National Economic and Social Development Council (NESDC). Key supporting factors include domestic demand recovery as well as tourism recovery as the COVID-19 situation improves. Other factorsinclude expansion of exports and the government’s investment. Performance Overview For the Year Ended 31 December 2021 In 2021, the Company and its subsidiaries’ net profit according to the consolidated financial statements amounted to 6,722 million baht. This was mainly due to the operating results of the important subsidiary and associated companies as follows: • THANI had a consolidated net profit of 1,709 million baht • TNI had a net profit of 768 million baht • TNS had a net profit of 661 million baht • Share of profit from investments accounted for under equity method - associated companies and joint venture was 1,986 million baht • Asset management companies and other subsidiaries had net profits of 265 million baht As a result, net profit attributable to the Company in 2021 amounted to 5,287 million baht, a decrease of 1,382 million baht or 20.72 percent from the previous year. This was mainly due to the fact that, in the first quarter of 2020, the Company recognized a gain on sale of its investment in AJT which was a one-time special gain. Excluding such special gain, the Company’s net profit increased by 1,608 million baht or 43.71 percent. The increase was from the growing performance of the Company and its important subsidiaries. Earnings per share (EPS) of the Company in 2021 were 5.04 baht. ROAA and ROAE were at 4.73 and 8.31 percent, respectively.
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