of 2018, close attention was paid to uncertainty surrounding US trade policy with its major trade partners, especially China. Most recently, the World Economic Outlook of the International Monetary

Environment 1 1.1 Global and Thai Economy in 2019 and Outlook for 2020 1 1.2 Banking Industry, Competition and Emerging Risks 2 1.3 Significant Regulations and Rules related to Business Operations 5 2. Risk

, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business

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

. 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

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

established in accordance with the following rules: (1) arrange the structure of the company in an orderly systematic way, according to duties, with a view to: (a) prevent dishonest acts of its personnel; (b

organisational structure of the company shall be established in accordance with the following rules: (1) arrange the structure of the company in an orderly systematic way, according to duties, with a view to: (a

2017/18 2018/19 Liquidity Ratios 31-Mar 2018 31-Mar 2019 Efficiency Ratios Leverage Ratios   MANAGEMENT OUTLOOK Advertising Payment Logistics

Profitability Ratios 1Q 2018/19 (Restated) 1Q 2019/20 Liquidity Ratios 31-MAR 2019 (Restated) 30-JUN 2019 Efficiency Ratios Leverage Ratios  MANAGEMENT OUTLOOK