TMBThanachart Bank Public Company Limited and its Subsidiaries (Formerly TMB Bank Public Company Limited and its Subsidiaries) Notes to the financial statements For the year ended 31 December 2021 75 14 Investments in subsidiaries and associates, net 14.1 Detail of investments in subsidiaries and associates Consolidated Bank only Companies Type of Business Percentage of ownership interest Paid-up capital Equity Allowance for expected credit loss At Equity, net Cost Allowance for expected credit loss At cost, net Dividend income for the year ended 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 (%) (in million Baht) Subsidiaries Phahonyothin Asset Management Co., Ltd. Asset management business 100.00 100.00 298 25 - - - - - - 298 25 - - 298 25 - - TBCO Public Company Limited (Formerly Thanachart Bank PCL) (2),(4) Commercial bank 99.98 99.98 - 60,649 - - - - - - 99,310 167,930 (99,000) (9,300) 310 158,630 92,576 20,249 TMBThanachart Broker Co., Ltd. (Formerly Thanachart Broker Co., Ltd.)(3) Insurance broker business 99.99 99.99 100 100 - - - - - - 117 - - - 117 - 135 - Associates TMB Asset Management Co., Ltd. (1) Fund management business 35.00 35.00 100 100 4,479 4,487 - - 4,479 4,487 197 197 - - 197 197 176 434 Thanachart Fund Management Co., Ltd. (1),3) Fund management business 49.90 49.90 100 100 4,141 4,112 - - 4,141 4,112 4,192 - - - - 4,192 - 101 - Total 8,620 8,599 - - 8,620 8,599 104,114 168,152 (99,000) (9,300) 5,114 158,852 92,988 20,683 (1) The remaining investment in TMB Asset Management Co., Ltd. and Thanachart Fund Management Co., Ltd. are subject to call and put options in the future. (2) For 2021, the Bank recorded interim dividend income amounting to Baht 92,576 million (2020: Baht 20,249 million), the investment in subsidiary has been written down by Baht 89,700 million (2020: Baht 9,300 million) as the subsidiary’s dissolution plan. The net amount of Baht 2,876 million (2020: Baht 10,949 million) was presented in other operating income and the investment in subsidiary has been decreased by Baht 68,620 million from capital return. (3) Indirect held subsidiary or associate as of 31 December 2020. (4) The Company registered the dissolution with the Ministry of Commerce on 1 November 2021 and is currently in the process of liquidation. 319 Form 56-1 One Report 2021
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