customer perception. We continue to focus on delivering fair profitability balancing between short- and long- term drivers while keeping our solid financial strength. Market and Competitive Environment As
expectations. On the cost side a major external factor was the change in Thai legislative environment, which made it necessary to build major additional retirement provision in Q2. On top of the external factors
still intense competition together with exchange rate fluctuations causing the sales of this product of the company to decrease. However, the company expects that with the strength of sale channel and
into year-end due to continued strength at our customers taking into account the normal seasonal effects” 2. Outlook Marco environment experienced some notable headwinds particularly in the tourism
infrastructure investment and a slowdown in private investment. Thai Banking Industry The commercial banking sector in Thailand continued to face some uncertainties in the business environment and ongoing changes
Capital Adequacy Ratio (CAR) and Common Equity Tier 1 ratio (CET1) stood at 19.6 percent and 16.0 percent, respectively. The evolving business environment in 2019 required commercial banks in Thailand to
global and domestic volatilities. However, there remained pockets of risks, such as the solvency of SMEs and the search-for-yield behavior in the prolonged low interest rate environment that might lead to
higher uncertainty, especially from foreign countries. In addition, the MPC raised concerns over the Baht’s increasing strength compared with the currencies of trading partners and competitors saying
time outside and its strength as being a media which is able to build on brand awareness amongst a wide audience which made it more attractive to media customers. MACO outperformed the overall industry
system. At the end of 2018, the total Capital Adequacy Ratio (CAR) and Common Equity Tier 1 ratio (CET1) stood at 18.3 percent and 15.8 percent, respectively. The evolving business environment in 2018