market Management Discussion and Analysis of Business Operation for 2Q/2018 Bangchak Corporation Plc. I 4 which is the main channel. Retail sales market share was at the 2nd rank, and is continuously

YoY. Total Revenue In 1Q19, CPN reported total revenue of THB 8,674 mn, an increase of 8.9% YoY. Main components of revenue are as follows. Revenue from rent and services In 1Q19, CPN recorded revenue

economy continued to expand. The main growth drivers were continued expansions in merchandise exports which expanded in various product categories and export destinations, and the swift recovery in tourism

financial statements in which the equity method is applied of the Company ended 31 December 2017.In addition, during the past 6 months, the Company did not have any other acquisition transactions of other

% from the end of the year 2019. Main liabilities are deposits, accounting for 83.3% of total liabilities. Owners’ Equity As of 31 March 2020, owners’ equity amounted to Baht 38,824.7 million, decreased by

% Return on average equity * 9.05% 8.48% 8.81% 0.57% 0.24% * Attributable to owners of the Bank Million Baht Item March 2018 December 2017 March 2017 Change (%) December 2017 March 2017 Loans ** 1,978,511

ratio 42.8% 39.9% 45.8% 2.9% (3.0)% 41.4% 43.3% (1.9)% Return on average assets * 1.16% 1.17% 1.07% (0.01)% 0.09% 1.17% 1.10% 0.07% Return on average equity * 9.16% 9.05% 8.38% 0.11% 0.78% 9.12% 8.61

94,547 million baht, an increase of 7,426 million baht or 9% from 87,122 million baht as of February 28, 2019. The main assets were attributed to the portfolio of net accounts receivable which shared 91

% from 95,396 million baht as of February 29, 2020. The main assets were attributed to the portfolio of net account receivables which shared 87% of total assets. 6 - Accounts Receivable The Company had

profit in the amount of 30.73 million baht or considered as net profit margin of 9.22%, increased from last year by 9.90 million baht or 47.50% of net profit of 2017. The main reason was from an increase