Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in 2018 and Outlook for 2019 1 1.2 Banking Industry, Competition and Emerging Risks 2 1.3 Regulatory

-China trade negotiations and Brexit risks. The World Economic Outlook of the International Monetary Fund revised downward its global economic growth projection for 2019, to 3.3 percent from the previous

with its major trade partners, especially China. This factor is set to have an impact on the world’s economic recovery over the remainder of this year. The World Economic Outlook of the International

. Worse, Brexit risks became heightened in the wake of political change in the United Kingdom. The World Economic Outlook of the International Monetary Fund cut its 2019 global economic growth projection to

the previous quarterly To: The President The Stock Exchange of Thailand Thailand's economic outlook for the year 2018 is likely to be bright. After seeing a clear recovery in the last quarter of last

previous year To: The President The Stock Exchange of Thailand Thailand's economic outlook for the year 2018 is likely to be bright. After seeing a clear recovery in the last quarter of last year, private

  MANAGEMENT OUTLOOK

times in 2020 and 0.16 times in 2019, Which shows the company's liquidity outlook improved due to the fact that inventories are classified as current assets with very little liquidity. Therefore

MAR 2020 Efficiency Ratios Leverage Ratios MANAGEMENT OUTLOOK

OUTLOOK