ibank Convenes Annual General Meeting, Welcomes BOI Secretary General as New Director, and Reports 841 Million Baht Operating Profit for 2025

Islamic Bank of Thailand (ibank) held its 2026 Annual General Meeting of Shareholders (AGM) via electronic media on Tuesday, May 12, 2026, at its headquarters. The meeting was presided over by Mr. Yongyutt Chaipromprasith, Chairman of the Board, and attended by the board of directors, executive management, and shareholders to acknowledge the 2025 performance results and approve the financial statements audited by certified public accountants and the State Audit Office of the Kingdom of Thailand. Overall, the bank’s performance demonstrated outstanding and robust growth across all dimensions.

 

During the meeting, Dr. Thaweelap Rittapirom, Director and President, reported that 2025 was a year of significant success despite a fragile economic environment. The bank achieved an operating profit of 841 million baht, a 16% increase from the previous year, and a net profit of 491 million baht, marking its fifth consecutive year of profitability. Financing grew by 6,259 million baht, or approximately 11%, outpacing the banking system average, particularly within the SME and Halal business sectors. Furthermore, the Southern Sandbox project focused on reaching customers in the five southern border provinces, capturing a 14.52% market share. Risk management remained efficient, with non-performing financing (NPF) managed at 12,441 million baht and adequate provisioning maintained in accordance with TFRS 9 standards.

 

Beyond financial stability, the bank expanded its customer base to 1.22 million individuals, adding over 80,000 new clients. Notably, the Al-Hajj and Umrah deposit products grew by 59%, valued at over 3,400 million baht. Digital service enhancement via the ibank Application saw cumulative users reach 230,000, nearly doubling from the previous year with a 95% increase and over 7 million transactions. ibank also prioritized Environmental, Social, and Governance (ESG) principles, receiving a "Good Pass" rating in the Integrity and Transparency Assessment (ITA) and a perfect score of 100 in anti-corruption. The Bank also released its first sustainability report highlighting concrete achievements in reducing greenhouse gas emissions and electricity consumption. Additionally, ibank’s collaboration with EXIM Bank to promote Halal exports won the 2025 Lert Rat Award (Good Level) for public service, a key milestone for the year.

For its 2026 direction, ibank announced a new strategy driven by Value-Based Intermediation (VBI). This model, which will guide operations from 2026 onwards, emphasizes creating value beyond mere profit by integrating economic, social, governance, and environmental dimensions in line with Islamic finance principles. Under the concept of “Belief + Trust + Future • Writing Our Future Together” the bank aims to enhance transparent and fair financial experiences. Furthermore, the bank established the Center of Excellence in Islamic Finance to serve as a knowledge hub for the public, aiming to bolster customer confidence and ensure sustainable mutual growth.

 

The AGM also resolved to elect Mr. Narit Therdsteerasukdi as a new director, replacing Mrs. Vunnaporn Devahastin, who reached the mandatory retirement age of 65 on January 14, 2026. Mr. Narit’s term will run from May 12, 2026, to July 28, 2028, equivalent to the remaining term of the director he replaced. Mr. Narit holds bachelor's degrees in Economics (Second Class Honors) from Chulalongkorn University and Law from Ramkhamhaeng University, as well as a Master of Arts in Economics from Boston University, USA. He has completed several prestigious national and international executive programs, including those from Curtin University, King Prajadhipok’s Institute, the New Wave Leaders Program for Thai Civil Servants (Class 1), the Senior Executive Program (Class 11), and the National Defence College (Class 67).

 

With a distinguished career at the Office of the Board of Investment (BOI) since 1995, Mr. Narit rose through various strategic roles, becoming Deputy Secretary General in 2017 and being royally appointed as Secretary General in 2022. He also spent over a decade supporting economic policy at the Government House under several Deputy Prime Ministers. Currently, he plays a vital role in national policy as a member and secretary of the National Electric Vehicle Policy Committee (EV Board) and the National Semiconductor and Advanced Electronics Policy Committee, while also serving on the boards of the Thailand Institute of Scientific and Technological Research (TISTR) and the Office of National Higher Education Science Research and Innovation Policy Council (NXPO).