TURBO set to accelerate growth following its first SET trading day

Increasing the number of branches, developing new financial products, expediting its loan portfolio expansion: Turbo’s aim is to become a leading retail financial services provider.

BANGKOK, Oct 1, 2025 – (ACN Newswire via SeaPRwire.com) – Ngernturbo PCL (TURBO), a retail financial service provider, is set to drive its growth following the Company’s first day of trading on the Stock Exchange of Thailand (SET: TURBO). TURBO highlights the exponential growth in its loan portfolio, surmounting all economic hurdles for profitability exceeding the industry average. The Company is also determined to expand its branch network to at least 1,457 locations by 2029, in parallel with the development of new financial products and services. This plan is expected to further enhance the Company’s overall loan portfolio and contribute to continued growth. The objective for TURBO is to become a leading national retail financial service provider.

Mr. Sutach Ruangsuttipap, CEO of TURBO, remarked, “While the Company’s shares began trading on the Stock Exchange of Thailand (SET) on Sept 30, in the FIN (Financial & Securities) Sector, and the FINCIAL (Financial) industry group under the symbol ‘TURBO’, the listing follows a successful IPO (initial public offering) of 537 million shares at 1.50 baht per share, which attracted overwhelming interest from both institutional and retail investors. This success reflects confidence in TURBO’s business operations and growth potential, which will make us one of the most sought-after stocks upon listing.”

Following the SET listing, TURBO aims to build on its success, becoming a leading national retail financial service provider, and achieving strong growth through several key strategies. 1. Building the brand as the No.1 choice for customers, with the emphasis on speed, convenience, and quality of service to ensure a high level of customer satisfaction and word-of-mouth referrals. 2. Developing the Company’s IT systems. TURBO maintains a strategy of building on its in-house technology team which can quickly develop specific IT systems most suitable for the organization. The Company prioritizes the adoption of artificial intelligence (AI) technologies to enhance efficiency in every work process. 3. Enhancing customer convenience by expanding branch coverage nationwide, with the aim of establishing no less than 1,475 branches by the year 2029. The plan is to develop better access to comprehensive financial products to ensure more extensive coverage. 4. Developing a diverse range of products to meet the differentiated needs of customers, such as increasing the types of loan collateral, expanding insurance product lines, and increasing the number of insurance partners, etc.

“I am confident that after our listing on the SET, TURBO will achieve stronger growth and generate more sustainable returns for shareholders, driven by customer-centric financial services, customer satisfaction, word-of-mouth referrals, together with the use of specially developed IT systems. All these processes will help to ensure that TURBO will be able to quickly adapt to any situation and maintain low operating costs in the long term,” Mr. Sutach added.

In 2023 and 2024 fiscal years, the Group’s total revenues were 2,430.7 million baht and 3,033.2 million baht. That translated into a 24.8% increase, with net profits of 131.7 million baht and 141.6 million baht, a 7.5% annual increase.

For the first six months (January – June) of 2025, combined revenue reached 1,517.6 million baht, a 3.7% increase, and net profit was 235.9 million baht, or a 285.8% increase compared to the previous year. As of June 30, 2025, the net interest margin was 19.8%, higher than the industry average(1) of 15.1%. Moreover, the net income after deducting expected credit losses to net loan receivables averaged 21.8%, higher than the industry average of 18.0%.

Mr. Paiboon Nalinthrangkurn, CEO of TISCO Securities Co Ltd, the lead-underwriter, and representative of TISCO Bank PCL, stated that TURBO has high growth potential, driven by the non-financial institutional retail loan market scenario, which has grown significantly from 220 billion baht in 2018 to 630 billion baht in Q1 2025. This is equivalent to an compound annual growth rate (CAGR) of 18.6%, higher than the commercial bank personal loan market which grew from 170 billion baht to 220 billion baht during the same period, or a CAGR of 4.5%. This reflects the continued growth in demand for retail loans from middle- to low-income customers who have limited or no access to commercial financial services, and make up a large segment of the population.

Positive factors across the industry are also driving TURBO’s growth in interest from loans, its core business, to annual returns of 40.8% from 2022 to 2024, while the Group’s revenue from insurance brokerage and life insurance brokerage grew 54.3% annually from 2020 to 2024. The Company’s strong foundation and solid long-erm growth potential will enable TURBO to become a quality stocks in the Thai capital market.

Mr. Pongsak Phrukpaisal, Managing Director of Kasikorn Securities PCL, the lead-underwriter, said he was confident that TURBO would be a growth stock that generates returns for investors. This is attributable to the Company’s quick and convenient services, customer empathy, and the team comprised of new generation of professionals with expertise in finance and digital technology. The Company utilizes technology to drive the organization in every process for efficient operations, resulting in impressive results and a high 20.7% word-of-mouth referral rate among customers. This led to exponential growth in the loan portfolio of 31.5% per year between 2020 and Q2 2025. Furthermore, the Company has the opportunity to expand its loan portfolio significantly despite being a relatively new operator with an average branch age of only 4.1 years.

(1) A group of 5 SET-listed industry operators.

Press release by MT Multimedia Co Ltd for Ngernturbo PCL.
For more information: Pipop ‘Top’, MT Multimedia
T: +66 81 929 8864, E: pipop.k@mtmultimedia.com

Ngernturbo PCL (SET: TURBO, SET-R:TURBO, SET/F:TURBO), https://www.turbo.co.th.