European fixed income – trends and analysis SEC Classification : ใชภ้ายใน (Internal) - R E S P O N S I B L E I N V E S T M E N T - ESG Incorporation & Investment Strategies in Fixed Income Carmen
wide range of economic activities, weakening purchasing powers, lowering household income, increasing number of laid off labors, high debt burden, and lowest consumers’ confidence in more than 21 years
power, as farm income continued to be constrained by low prices of agricultural products and nonfarm income remained lackluster. Moreover, high levels of household debt caused the generation of new loans
, reserve and liquidity. Credit Rating LH Financial Group Public Company Limited is assigned the credit rating at “BBB+” with “Stable” outlook by TRIS Rating. Analysis of Operating Results In the first
household purchasing power remained weak. Despite improvements of both farm and nonfarm income, households’ purchasing power is compressed by the high debt burden and the waning confidence regarding
% Net interest margin 2.33% 2.34% 2.31% (0.01)% 0.02% 2.34% 2.33% 0.01% Net fees and service income to operating income ratio 21.3% 24.1% 22.7% (2.8)% (1.4)% 22.7% 23.7% (1.0)% Expense to operating income
sector’s growth slowed down and private investment slightly dropped. However, private consumption continued to hold up, partly due to improvements in non-farm income and government measures to support low
employment and thin income would be a major obstacle for Thai economy in the next phase. For the banking sector in the third quarter of 2020, the commercial bank loans benefited grew from big corporate and
demand.Private consumption plummeted due to increasing unemployment, lower household income and higher household debt. Some business sectors have delayed investments in order to maintain some liquidity, and this
quarter of 2018 continued to grow year-on-year on the back of buoyant domestic demand. Private consumption continued to gain traction, supported by improvement in income and employment. Furthermore, there