E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4

Experience Management Sales to 13.37 Mb, an increase of 11.89 Mb or 800.4% YOY. We foresee a significant growth in these new Business Units in line with our planned strategy to offer end-to-end solutions to

sustain its growth. Overall, however, it was plagued by weak exports and tourism amid the global economic slowdown. Aside from these challenges, businesses had to contend with more complex competition

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction

-year average of 68.0 percent. Consequently, employment contracted by 0.7 percent. Private consumption slightly softened due to stagnant farm and non-farm income growth. Moreover, household debt, which

year to date high at 1,673.16, gain 3.38% from last month or increased 7.01% YTD. Bank of Thailand raised its economic growth forecast for this year to 3.8% from 3.5%, upgraded its estimate for exports

. Bank of Thailand raised its economic growth forecast for this year to 3.8% from 3.5%, upgraded its estimate for exports. In the medium to long term, we has a positive view toward equity market because of

strong across-the-board growth. The business sector remained challenged by new modes of competition amid the advancing digital age and the rapid pace of technological advancement, together with the

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due

of money and capital markets, and TFRS 9 impacts from reclassification and remeasurement of investments. However, net interest income increased Baht 2,512 million, or 9.82 percent, due to loan growth