TMB Bank Plc.

Analysts & Investors Presentation

May 2009

[2]

Operating performance and financial outlook

Economic outlook and 1Q09 results review

Key developments after 1Q09

Business strategy

Appendix

Source: the Bank of Thailand, NESDB [3]

Economic outlook: Dimmed GDP growth outlook with declining interest rate

The weak global economy has resulted in negative Thai GDP growth of 4.3% in 4Q08GDP growth is expected to remain in negative in 1H09. Thai policy rate was cut consecutively since Oct 08, currently at 1.25%With no inflation threats, MPC has more room to cut the policy rate. TMB expects further cuts to 1.00% by 3Q09 and 0.75% by 4Q09. TMB’s revised 2009 GDP forecasts now at -4.8% (from <2% in Dec08)

Quarterly GDP growth

-4.3%

5.5%6.2%5.7%3.8%

-10%

-5%

0%

5%

10%

15%

20%

4Q07 1Q08 2Q08 3Q08 4Q08

GDP Private consumption Government consumptionGross capital formation Exports Imports

One-day repo rate

3.25% 3.25%3.50%

3.75%

2.75%

2.00%1.50%

1.25%

3.75%

0%

1%

2%

3%

4%

9 Apr 08 21 May 08 16 Jul 08 27 Aug 08 8 Oct 08 3 Dec 08 14 Jan 09 25 Feb 09 8 Apr 09

Source: consolidated financial statements [4]

Net income and Normalized PPOP

1,158436

-3,991

1,6661,590

2,4291,929 1,598 1,339

3,130

-4,500

-3,500

-2,500

-1,500

-500

500

1,500

2,500

3,500

1Q08 2Q08 3Q08 4Q08 1Q09

THB

mill

ion

-4,500

-3,500

-2,500

-1,500

-500

500

1,500

2,500

3,500

THB

mill

ion

Net income (LHS)

Normalized PPOP (RHS)

1Q09 results review: Earnings affected by weak economy and branch transformation

1Q09 net profit of THB436mn improved from net loss of THB3,991mn in 4Q081Q09 ROE at 3.8% vs. -34.2% in 4Q08 and 1.0% for FY2008PPOP was affected by weak economy and branch transformation*Three key transactions in 1Q09:

Early recognition of possible impacts from NPL & NPA sales (THB2.9 billion)Change in provisioning methodologyWrite-down of equity investments (THB854 million)

*removal of credit-related works from branch to business

centers completed in end of Mar 2009

Return of Equity (ROE)

10.3%3.8%

-34.2%

14.3%14.3%

-50.0%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

10.0%

20.0%

1Q08 2Q08 3Q08 4Q08 1Q09

[5]

1Q09 results review: Three key transactions to strengthen balance sheet

Three major actions done in 1Q09 Financial impact Remark

Early recognition of possible impacts from NPL & NPA sales

THB1,371million losses from NPL sales and THB1,551 million losses from NPA sales

NPL and NPA figures will remain in the bank’s balance sheet until the completion of the sales by the end of April

Change in provisioning methodology Main factor for a write-back in loan loss provision

An early adoption of IFRS, the methodology in quantify of provisioning on performing loans has changed to “incurred losses”

basis, a 3-9 months forward assessment.TMB’s risk-rating methodology is in line with ING.

Write-down of equity investments An impairment loss of THB854 million was included in loss from investment

Based on the bank’s conservative approach. The impairment was previously booked as part of the unrealized gains/losses on revaluation of investment (part of the shareholders’

equity). The action had no impacts on banks’

shareholder’s equity as well as regulatory capital.

Source: consolidated financial statements [6]

1Q09 results review: Lower NII and NIM due to declining interest rate

Net interest income (NII) lowered QoQ mainly due to:

Declining interest rateWeak loan growthHigher allocation to highly liquid and low-risk assets

Net interest margin lowered QoQ to 2.2% from 2.4% in 4Q08Funding costs also dropped quite sharply QoQ, as high-cost deposits started to mature

Funding cost

4.2%5.0%5.0%4.8%4.9%

2.2%2.9%

2.5%2.4%2.3%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

1Q08 2Q08 3Q08 4Q08 1Q09

Average yield Cost of fund

Net interest income and NIM

3,2293,9984,088

3,4894,218

2.7%2.4%

2.2%

2.8%2.8%

0

1,000

2,000

3,000

4,000

5,000

6,000

1Q08 2Q08 3Q08 4Q08 1Q09

THB

mill

ion

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

NII (LHS)NIM (RHS)

Source: consolidated financial statements [7]

1Q09 results review: Weak fee income due to economic slowdown and branch transformation

1Q09 fee income dropped 10.4% QoQ to THB1.0 billion mainly due to branch transformation and impact from economic slowdownFee income structure: 38% credit card/merchant and ATM, 23% bancassurance and mutual fund, 17% credit-related, 16% cash management and payment

Fee income

1,350 1,287 1,222 1,153 1,034

-5.0%-4.7%-7.8%

-5.6%

-10.4%

0

500

1,000

1,500

2,000

1Q08 2Q08 3Q08 4Q08 1Q09

THB

milli

on

-30.0%

-25.0%

-20.0%

-15.0%

-10.0%

-5.0%

0.0%

Fee income

QoQ growth

Fee income breakdownCredit-related

17%

Mutual fund & Bancassuranc

e23%

Others6%

Cash management

& Payment16%

Credit card/ merchant & ATM

38%

Source: consolidated financial statements [8]

1Q09 results review: Cost to income still rose QoQ

Cost to income rose QoQ to 115.6% from 75.0% in 4Q08, mainly due to THB1.4 billion impairment of NPA (as early recognition of NPA portion to be sold to BAM in April 2009)Operating cost to income still rose QoQ to 70.8% from 62.0% in 4Q08 mainly due to weak NII and fee incomeExcluding extra items, 1Q09 operating expenses were THB3.3 billion, flat YoY, but lowered from THB3.8 billion in 4Q08

Cost to income ratio

60.7%

95.1%

153.9%

75.0%

115.6%

56.9% 68.1% 64.5% 62.0% 70.8%

0.0%

40.0%

80.0%

120.0%

160.0%

200.0%

1Q08 2Q08 3Q08 4Q08 1Q09

Cost to IncomeOperating Cost to Income

Operating cost breakdown (1Q09)

Fees and service

expenses9.3%

Premises and equipment expenses

18.5%

Taxes and duties5.8%

Other expenses12.0% Personnel

expenses40.9%

Contributions to FIDF13.3%

Directors' remuneration

0.2%Total : THB 3,332 million

Source: consolidated financial statements [9]

1Q09 results review: Higher NPL but well- covered

NPL ratio at 16.0% as of 1Q09, but still well covered at 60%NPL rose by THB4.2 billion (6% QoQ) in 1Q09 due to weakening economy, mostly from SME segmentAllowance as of Mar 09 declined slightly by THB1.4 billion (3%) from Dec 08 mainly due to change in provisioning methodology1Q09 NPL ratio still included THB15 billion NPL sales to BAM (but fully provided in 1Q09). Excluding NPL sales, 1Q09 NPL should have been at 13.2%

NPL and NPL ratio

13.4% 14.3%16.1% 16.0%

12.5% 11.3%

0

20,000

40,000

60,000

80,000

100,000

2004 2005 2006 2007 2008 1Q09

THB

mill

ion

0.0%

3.0%

6.0%

9.0%

12.0%

15.0%

18.0%

NPL amount (RHS)Gross NPL (LHS)

NPL coverage

68.9%

47.0% 51.3%

68.1% 65.8%60.1%

0.0%

10.0%20.0%

30.0%

40.0%

50.0%60.0%

70.0%

80.0%

2004 2005 2006 2007 2008 1Q09

Source: consolidated financial statements [10]

1Q09 results review: Negative loan growth amid weak economy

4Q08 loan breakdown

Corporate45%

SME39%

Retail16%

Loan growth (qoq growth)

-3.6%

-2.0%

-6.4%

-0.7%

-2.7%

-7.0%

-6.0%

-5.0%

-4.0%

-3.0%

-2.0%

-1.0%

0.0%1Q08 2Q08 3Q08 4Q08 1Q09

1Q09 loans dropped 6.4% QoQ, mainly due to weak economy and branch transformationMost declines were from repayment of trade finance and working capital loans1Q09 Corporate/SME/Retail loan breakdown at 46:38:16 relatively unchanged from 4Q08

1Q09 loan breakdown

Corporate47%

SME37%

Retail16%

Source: consolidated financial statements [11]

1Q09 results review: Lower deposits, but improving mix

1Q09 deposits dropped 2.2% QoQ due to maturity of high-cost deposits. Going forward, funding from high-cost deposits to declineDeposit mix continued to improve since 4Q08 with implementation of Bank’s Deposit-Led Strategy Saving & current accounts (CASA) mix rose to 46.6% in 1Q09 from 38.7% in 4Q08, mainly from retailed depositors

Deposit breakdown

4.0% 4.2% 4.5% 4.9% 6.2%

37.0% 37.8% 32.8% 33.8% 40.4%

58.9% 57.9% 62.7% 61.2% 53.2%

0%

20%

40%

60%

80%

100%

1Q08 2Q08 3Q08 4Q08 1Q09

Current Savings Fixed

Deposit growth (qoq growth)

3.2%

-9.5%

3.9%

-2.2%

-0.3%

-12.0%

-10.0%

-8.0%-6.0%

-4.0%

-2.0%

0.0%2.0%

4.0%

6.0%

1Q08 2Q08 3Q08 4Q08 1Q09

Source: consolidated financial statements [12]

1Q09 results review: Continued strong liquidity position

Continued strong liquidity with higher allocation to cash, interbank and short term investment (24.5% of total earning assets as of 1Q09)Short term investments mainly consists of low-risk investment, i.e. Government and SOE bondsLoan to deposit ratio dropped further to 90.2% from 94.2% in 4Q08

Earning asset allocation

2% 1% 5% 7% 11% 11%13.9% 15.5% 16.2% 15.4% 14.0% 19.9%

81.8% 82.6% 77.3% 76.1% 72.9% 67.4%

0%

20%

40%

60%

80%

100%

2004 2005 2006 2007 2008 1Q09

Cash Interbank Investment Loans

Investment breakdown by type

83.2% 91.8%

3.4%1.5%13.4% 6.1%

0%

20%

40%

60%

80%

100%

2007 2008

Other

Equity securities

Foreign debtinstrumentsPrivate debtinstrumentsGovernment and stateenterprise securities

Loan to deposit ratio

112.8%107.0%

95.2%99.9%

94.2%90.2%104.8%

101.0%

86.2%95.3%

87.4%83.5%

60%

70%

80%

90%

100%

110%

120%

2004 2005 2006 2007 2008 1Q09

Loan to depositLoan to depsosit + ST borrowing

Source: bank only, under Basel II calculation [13]

1Q09 results review: Continued strong capital base

Tier I and total capital adequacy ratio (CAR) were 10.6% and 14.1% (Basel II calculation), well above minimum requirement by BOT1Q09 CAR improved slightly QoQ due to lower risk-weighted assets

CAR and BOT min requirement

8.79% 9.04%10.43%

14.35% 13.91% 14.09%

8.50% 8.50% 8.50% 8.50% 8.50% 8.50%

0%

4%

8%

12%

16%

2004 2005 2006 2007 2008 1Q09

CAR BOT requirements

Tier I capital and BOT min requirement

6.02% 6.18%7.30%

10.14% 10.56%

4.25% 4.25% 4.25% 4.25% 4.25% 4.25%

10.52%

0%

2%

4%

6%

8%

10%

12%

2004 2005 2006 2007 2008 1Q09

Tier I BOT requirements

[14]

Operating performance and financial outlook

Economic outlook and 1Q09 results review

Key developments after 1Q09

Business strategy

Appendix

Source: consolidated financial statements [15]

Key developments in 2Q09: Successfully sold NPL & NPA – NPL & NPA to reduce by 20% and 26%

THB15 billion NPL and THB4.4 billion NPA sold to BAM, one of the biggest NPL sales by TMBImpacts from NPL sales (THB1.37 billion) and NPA sales (THB1.5 billion) were already recognized in 1Q09 F/SThe sale will reduce NPL by 20% and NPA by 26%, implying 3% decrease in NPL ratio and 0.7% decrease in NPA to total assets.

NPA and NPA to total assets4.5%

3.2%

4.0%4.7%

2.8%

3.6%

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2004 2005 2006 2007 2008 1Q09

THB

mill

ion

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

NPA (LHS)NPA total assets (RHS)

2.1%

NPL and NPL ratio

13.4% 14.3%16.1% 16.0%

12.5% 11.3%

010,00020,00030,00040,00050,00060,00070,00080,00090,000

2004 2005 2006 2007 2008 1Q09

THB

mill

ion

0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%16.0%18.0%

NPL amount (RHS)Gross NPL (LHS)

13.2%

[16]

Key developments in 2Q09: Successfully issued TMB IT-One

TMB has successfully raised Tier 1 by THB4 billion through the issuance of local Hybrid Tier 1 (TMB-IT One) The issuance was made possible on the back of TMB’s strong presence and local liquidity. The success should bolster investors’ confidence on TMB’s capital outlook and capability to raise capital, if necessary

Type Perpetual non-cumulative Tier 1 Securities

Status Subordinated, unsecured

Optional redemption

Callable by the Issuer after 5 years and every six month thereafter

Interest rateYear 1-10: 7%

Year 11 onward: 6-month fixed deposit rate + 7%

Interest rate payment date Semi-annually

Interest payment

Issuer will not be obliged to make any interest payment in the event that Issuer expects no net profit for the same six-

month period. Such non-payment will not constitute a default by the Issuer.

[17]

Key developments in 2Q09: Buy-back of hybrid tier1

Tender offer of Hybrid Tier 1 (issued in 2006) amounted to US$131 million at 57% of face valueThe deal was made possible due to TMB’s strong liquidity position, market opportunity and ability to raise new capital locallyTier I capital and CAR after tender offer and TMB-IT1 issuance should remain largely unchanged

[18]

Challenges and opportunities

Challenges

Opportunities

Economic slowdown and stringent lending policy will result in weak loan growth.

Continued strong competition in the corporate lending business

Declining interest rates will continue to affect net interest margin

Rising NPL

After recapitalization and on-going transformation, TMB is more prepared to improve profitability and financial position.

Capitalize on combination of clear understanding of customers’ need and ING know-how

Strengthening operating platforms to translate into better financial results and help capture gains when economy turns the corner:

Reorganization to achieve customer centricity

Improvement of human resource systems

Branch transformation

End-to-end process improvement & Building service excellence

[19]

Operating performance and financial outlook

Economic outlook and 1Q09 results review

Key developments during 2Q09

Business strategy

Appendix

[20]

Our 3-year aspiration

… to be the leading Thai bank, providing world class financial services … to be the leading Thai bank, providing world class financial services

Leading Thai Bank with World Class Financial Solutions

MarketLeadership

14% deposit market share

by 2011with strong Saving& Current contribution

Main bank statusfor wholesale,SME customers, and high

penetration in retail

Sustained Profitability

Sustained profitability

with≥40% contribution from consumer banking ≥35% contribution from non-interest income

Top quartile total shareholders’

return

for Thailand

Customers

Top tier satisfaction/Engagement level

Regulators

‘Good’

Rating

Employees

Employer of ChoiceFor Financial Service

[21]

And three-phase customer centric transformation

Phase 3:Market Leadership

Phase 2:Differentiation &Quality Growth

Phase 1: Laying the Foundation

2008-2009 2009-2010 2011 onward

•

Reorganization•

Branch transformation with service excellence for all segments

•

End-to-end process•

HR Transformation & Risk Mgmt

•

Product expansion•

Channel expansion•

Brand enhancement•

TMB Group offering

•

New standards for customer service

•

New standards for financial management

[22]

2009 transformation plan

Q1/ 09 Q2/ 09 Q4/ 09Q3/ 09

Change current business model through “Branch Transformation”

Improve “Service Excellence” for better customer experience for all segments

Re-design and implement bankwide “End to End Process” improvement

Reorganization and employee deployment to become “customer centric organization”

HR transformation & employee engagement for “better working life”

Clear business separation Detailed JD for all divisions

New deposit process

Introduce LOS for SMEsCentralize all types of limit setting

Redeployment stabilized

New KPIs/PMS in placeNew compensation Scheme

Customer migration Unnecessary work removed

Career development & Training

Service Excellence training & initiatives

Reorganization

BranchTransformation

HR Transformation

Process improvement

(E2E)

Service & Sale Excellence

Customer EngagementMeasurement & Scorecard

[23]

Wholesale Group value proposition: Focus in 2009

Better accessibility to RM and frequent customer visits

Dedicated RM with frequent visits and customer facing time 50%Improving time-consumed top 10 processes

Shorter service turnaround time and streamline process

Improve product turnaround time Credit product SLA 30 or 40 daysCapital Market FX specialist and new productTrade finance new process with SLACash management specialist and SLA on implementation of key products

Services with committed timeline from competent staffs

Improve service qualityImprove key service processesSet up wholesale middle office service center

Customer value propositions TMB initiatives

[24]

SME Group value proposition: Focus in 2009

Better accessibility to RM and frequent customer visits

Increase RM customer facing time to 70%Improve approval and disbursement process

Shorter service turnaround time and streamline process

Improve E2E processProduct program: 10 working daysOther credits: 20 working daysDisbursement: same day with no paper work

Proper credit facilities to support business with better term and condition

Develop and implement new productsNew working capital modelSupply chain solutionFactoring and credit insurance

Customer value propositions TMB initiatives

[25]

Retail Group value proposition: Focus in 2009

Build brand visibility & awareness Expand key channels41 new branch locations441 new ATMs (incl. those in branches)25 new & 18 renovated FX Booths

Launch TMB brand repositioning campaign & track spontaneous and prompted brand awareness and brand attributesRefurbish & change signage at branches

Offer reliable service and convenience at all touch pointsShorten acct opening time (top of mkt)Top of the market turnaround time for mortgage - 7 days Top on - line banking serviceImprove customer satisfaction

Implement End to End processEnd to End process in CASA (current & savings) and Time deposits (TD)End to End process redesign on mortgage

Enhance internet and call center servicesImplement KPI & operation excellence in branches

Offer simple, easy and fair-priced financial solutions to target segments

Offer comprehensive CASA & TD and mortgage as flagship productsTarget mid-income to affluent segments

Customer value propositions TMB initiatives

[26]

The TMB Bank

Vision: Vision: To be the Leading Thai Bank with World Class Financial SolutionsTo be the Leading Thai Bank with World Class Financial Solutions

Strategy : Strategy : Customer Centricity the TMB WayCustomer Centricity the TMB Way

Aspirations : Aspirations : 1. Create Long1. Create Long--term Healthy and Sustainable Profitterm Healthy and Sustainable Profit

2. Moving Towards Market Leadership2. Moving Towards Market Leadership

TMB is striving to be theto be the life time partner for the customerslife time partner for the customers by building trusted relationships through deep understanding of the customers’ financial needs in all life stages and to deliver creative excellence to deliver creative excellence from our products and services

[27]

Operating performance and financial outlook

Economic outlook and 1Q09 results review

Key developments during 2Q09

Business strategy

Appendix

Source: consolidated financial statements [28]

Balance sheet

Unit: THB million 1Q09 4Q08 % Δ QOQ 1Q08 % Δ YOYCash, Interbank and repurchase 81,415 83,904 -3.0 64,500 26.2Investments 119,658 83,983 42.5 103,251 15.9Loans and Accrued Interest Receivable 400,396 427,582 -6.4 451,733 -11.4Less Allowance for doubtful accounts -44,453 -45,916 -3.2 -48,871 -9.0Loans and AI - net 355,944 381,666 -6.7 402,862 -11.6Properties foreclosed - net 17,026 19,260 -11.6 22,111 -23.0Premises and equipment - net 14,174 14,388 -1.5 12,825 10.5Goodwill from transferred business - net 60 60 0.0 323 -81.4Other assets 13,101 18,724 -30.0 12,645 3.6

Total Assets 601,379 601,985 -0.1 618,517 -2.8Deposits 440,207 450,297 -2.2 480,498 -8.4Interbank and Money Market Items 12,006 9,299 29.1 12,014 -0.1Borrowings 63,467 66,317 -4.3 53,572 18.5Other liabilities 39,532 31,026 27.4 26,538 49.0

Total Liabilities 555,212 556,939 -0.3 572,622 -3.0Shareholders' equity 46,072 44,955 2.5 45,221 1.9Minority Interests 95 92 4.4 674 -85.8

LIABILITIES & SHAREHOLDERS' EQUITY 601,379 601,985 -0.1 618,517 -2.8

Source: consolidated financial statements [29]

Profit and Losses

Unit: THB million 1Q09 4Q08 % Δ

QOQ 1Q08 % Δ

YOY

Interest Income 6,104 7,221 -15.5 7,396 -17.5

Interest Expense 2,875 3,732 -22.9 3,178 -9.5

Net income from interest and dividend 3,229 3,489 -7.4 4,218 -23.4

Provisions for bad debts -1,113 3,860 -128.8 803 -238.5

NII after provisions 4,342 -371 1269.7 3,414 27.2

Non-interest Income 1,024 1,325 -22.7 2,282 -55.1

Non-interest Expenses 4,918 4,939 -0.4 4,021 22.3

Net income (loss) before income tax 448 -3,984 111.2 1,675 -73.3

Income tax 8 5 57.4 46 -82.9

Minority Interests 4 1 222.2 40 -90.0

Net income 436 -3,991 110.9 1,590 -72.6

Basic Earnings (loss) Per Share (THB) 0.04 -0.10 140.0 0.04 0.0

Source: consolidated financial statements [30]

Non interest income and expenses

Unit: THB million 1Q09 4Q08 % Δ QOQ 1Q08Gain on investments -955 -523 82.5 465Share of profit (loss) on equity 38 267 -85.6 61Fees and service income 1,034 1,153 -10.4 1,350 - Acceptances, aval and guarantees 113 131 -13.9 156 - Others 921 1,022 -9.9 1,193Gain on exchange 341 88 285.8 336Gain on sale of assets 0 394 -100.0 16Other income 567 -54 1147.8 54

Total Non-interest Income 1,024 1,325 -22.7 2,282Personnel expenses 1,362 2,259 -39.7 1,191Premises and equipment expenses 617 658 -6.2 612Taxes and duties 193 211 -8.4 239Fees and service expenses 310 373 -17.1 279Directors' remuneration 6 10 -34.1 7Loss on impairment of properties foreclosed and other asset 1,441 417 245.1 103Contributions to Financial Institutions Development Fund 443 460 -3.6 474Loss on sale of assets 49 0 na 0Loss on provision of obligation from transferred of non-perfor 300 2 12343.1 0Loss on provision of obligation-Other -204 -99 106.0 565Goodwill amortization 0 0 na 0Loss on impairment of goodwill 0 0 na 0Other expenses 400 647 -38.1 552

Total Non-interest Expenses 4,918 4,939 -0.4 4,021

Source: consolidated financial statements [31]

1Q08 2Q08 3Q08 4Q08 1Q09 FY07 FY08Profitability & ROAE 14.3% 10.3% 14.3% -34.2% 3.8% -95.6% 1.0%Margin ROAA 1.0% 0.7% 1.1% -2.7% 0.3% -6.4% 0.1%

Cost to Income (proforma) 61.9% 65.9% 76.5% 102.6% 115.6% 153.9% 75.0%Yield on avg earning assets 4.9% 4.8% 5.0% 5.0% 4.2% 5.1% 4.9%Funding costs 2.3% 2.4% 2.5% 2.9% 2.2% 2.8% 2.5%NIM, avg earnings assets 2.8% 2.7% 2.8% 2.4% 2.2% 2.5% 2.6%

Liquidity Loan to deposit 93.3% 100.3% 98.6% 94.2% 90.2% 99.9% 94.2%Loan to depsosit + ST borrowing 88.7% 89.7% 90.3% 87.4% 83.5% 95.3% 87.4%Cash & interbank to earning assets 9.4% 7.6% 7.9% 13.2% 12.8% 8.5% 13.2%

Fee income Fee income/Total income 20.8% 21.3% 22.4% 24.0% 24.3% 23.5% 22.0%Fee income, yoy growth 6.7% 0.3% -13.1% -21.3% -23.4% 14.5% -7.5%

Loan & deposit Loan, yoy Growth -14.3% -13.7% -11.6% -8.7% -11.4% -14.1% -8.7%growth Loan, qoq Growth -3.6% -2.7% -2.0% -0.7% -6.4%

Deposit, yoy Growth -8.0% -11.7% -16.0% -3.3% -8.4% -18.1% -3.3%Deposit, qoq Growth 3.2% -9.5% -0.3% 3.9% -2.2%

Capital Tier I 11.2% 11.7% 12.8% 10.1% 10.6% 10.5% 10.1%(Bank only) Total CAR 15.0% 16.4% 17.3% 13.9% 14.1% 14.4% 13.9%Asset quality Reported NPL (THB million) 73,996 70,500 70,741 69,777 73,957 76,512 69,777

Gross NPL 15.1% 15.2% 15.4% 14.3% 16.0% 16.1% 14.3%NPL coverage 66.0% 69.5% 68.2% 65.8% 60.1% 68.1% 65.8%

Selected key financial ratios

Note: ING's holding including NVDR (4.9%) [32]

Shareholding structure and management

Management teamManagement team

Mr. Boontuck Wungcharoen (Chief Executive Officer)

Mr. Simon Andrews (Chief Operating Officer)

Mr. Piti Tantakasem (Chief Wholesale Banking Officer)

Mr. Bart Hellemans (Chief Risk Officer)

Mr. Sayam Prasitsirigul (Chief SME Banking Officer)

Mr. Thanomsak Chotikapraka (Chief Financial Officer)

Mr. Michal Szczurek (Chief Retail Banking Officer)

Shareholder structure as of April 2009

ING bank, 30.1%

Ministry of Finance , 26.1%DBS Bank , 6.8%

Thai NVDR, 7.3%

JP morgan , 3.6%

Others, 23.9%

Minitary group, 2.2%

Top Mgmt Latest credentials

CEO KBANK: Head of corporate and capital market, SME

Wholesale KBANK: Head of large corporate

SME KBANK: Head of supply chain financing & cash mgmt

Retail ING: Mgmt Board of ING Nederlanden-Poland

CRO ING: MD, Head of credit capital

COO ING Direct Australia: Sales/operation/IT

CFO Standard Chartered: CFO

Source: As of December 2008 [33]

Operating platform and holding structure

TMB BankTMB Bank

BankingBanking Investment Investment BankingBanking

ING Life (life)Thai Insurance (non-life)

Thai Orix Leasing (46%)

TMB Asset Management (75%), with 9.4% market share in mutual fundING Funds with 3.1% market share in mutual fund

6.1% loans market share6.2% deposit market share470 branches nationwide and 2,014 ATMs

Asset Asset ManagementManagement LeasingLeasing InsuranceInsurance

In house

Source: 1Q09 consolidated financial statements [34]

Loan, deposit, asset growth and leverage

Leverage ratio

12.5 12.6

11.2

12.412.0

10.0

11.0

12.0

13.0

14.0

1Q08 2Q08 3Q08 4Q08 1Q09

(X)

Total asset growth

618,517 621,578592,987 601,985 601,379

-4.6%0.5%-0.6% 1.5% -0.1%

500,000

550,000

600,000

650,000

700,000

750,000

800,000

1Q08 2Q08 3Q08 4Q08 1Q09

THB

milli

on

-30.0%-25.0%-20.0%-15.0%

-10.0%-5.0%0.0%5.0%

Total asset Total asset growth

Deposit growth

480,498

434,846 433,500450,297 440,207

-0.3%

-9.5%

3.2% 3.9%-2.2%

390,000

440,000

490,000

540,000

590,000

1Q08 2Q08 3Q08 4Q08 1Q09

THB

milli

on

-30.0%-25.0%-20.0%-15.0%-10.0%-5.0%0.0%5.0%10.0%

Deposit (exc. B/E) Deposit growth (exc. B/E)Loan growth

448,273436,171

427,484 424,286

397,171

-0.7%

-6.4%

-3.6% -2.7% -2.0%

390,000

410,000

430,000

450,000

470,000

490,000

1Q08 2Q08 3Q08 4Q08 1Q09

THB

milli

on

-12.0%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

Loan growth Loan growth

[35]

Distribution channels

Branch distribution as of 2008

BMA, 216

Central, 52Eastern, 41

Northern provinces, 53

Northeastern, 49

Southern and Western, 59

Total number of employee

7,9258,221

9,0778,700

9,039 9,119

7,000

7,500

8,000

8,500

9,000

9,500

2004 2005 2006 2007 2008 1Q09

Domestic branches

450

426

464 470 470 470

380

400

420

440

460

480

500

2004 2005 2006 2007 2008 1Q09

Number of ATM

1,173

1,751 1,9491,7141,400

2,014

0

500

1,000

1,500

2,000

2,500

3,000

2004 2005 2006 2007 2008 1Q09

Note: updated as of 30 April 2009 [36]

Local RatingTRIS-Long Term Debt A+TRIS - Sub Debt A+TRIS - Hybrid Tier I BBB+Fitch - Long Term/Short Term A+/F1 (tha)Fitch - Subordinated debt A (tha)Fitch - Outlook Stable

Credit ratings

Moody's Investor ServicesLong Term Deposits Baa2Hybrid Tier I B1Short Term Debt/Deposits Prime-2Outlook StableBank Fundamental Strength Rating-Outlook D-/Stable

Standard & PoorsLong Term Debt BB+Hybrid Tier I B+Short Term Debt/Deposits BBank Fundamental Strength Rating D+Outlook Stable

Fitch RatingFCY - Long Term/Short Term BBB-/F3Sub Debts/Hybrid Tier I BB+/B+Individual C/DSupport Rating Floor/Support BB/3Outlook Negative

Source: C.B 1.1 as of March 09 [37]

Peer comparison and market share

Deposit market share

1,3391,114 981 915

528 268 75 64344441

18.8%15.7% 13.8% 12.9%

7.4% 6.2% 4.8% 3.8%1.1% 0.9%

-

500

1,000

1,500

2,000

BBL KTB SCB KBANK BAY TMB SCIB TBANK KK TISCO

THB

billio

n

-10.0%-5.0%

0.0%5.0%

10.0%15.0%

20.0%25.0%

Asset market share

1,7261,395 1,297 1,218

730415 352 126 118

600

17.1%13.8% 12.8% 12.0%

7.2% 5.9% 4.1% 3.5%1.2% 1.2%

-

500

1,000

1,500

2,000

BBL KTB SCB KBANK BAY TMB SCIB TBANK TISCO KK

THB

billio

n

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

Loan market share

81518

876

107267279400

1,1331,068

882

17.2% 16.2%13.4%

13.3%

7.8% 6.1%4.2%

1.2%4.1%

1.6%

-

200

400

600

800

1,000

1,200

BBL KTB SCB KBANK BAY TMB SCIB TBANK TISCO KK

THB

billio

n

0%

5%

10%

15%

20%

Revenue market share

18,83016,85016,427

13,797

9,476 8,4814,205 1,773 1,212

4,254

19.8% 17.7% 17.2%14.5%

9.9% 8.9%4.4%

1.9% 1.3%4.5%

0

5,000

10,000

15,000

20,000

25,000

BBL SCB KBANK KTB TCAP BAY TMB SCIB TISCO KK

THB

milli

on

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

Source: C.B 1.1 as of March 09 [38]

Peer comparison and market share (Cont.)

Loan to Deposit Ratio

81%85%90%91%96%96%98%100%108%

167%

0.0%

50.0%

100.0%

150.0%

200.0%

TISCO KK TBANK BAY KTB KBANK TMB SCB BBL SCIB

NPLCoverage

43%49%61%61%61%62%

89%91%93%103%

0.0%

30.0%

60.0%

90.0%

120.0%

BBL KBANK TBANK SCB BAY TISCO SCIB TMB KK KTB

Allowance/BOT requirement

102%104%105%113%117%118%122%124%

129%

175%

100.0%

150.0%

200.0%

BBL KBANK SCB TISCO BAY SCIB TMB KK KTB TBANK

Loan Growth (YoY)

-11.6%

5.0%5.9%6.1%9.7%10.6%10.7%12.2%12.3%

23.3%

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

TISCO TBANK KK SCB SCIB KBANK KTB BAY BBL TMB

Source: 1Q09 consolidated financial statements [39]

Cost to Income ratio

48.2% 48.7% 51.7% 52.4%61.3% 63.7%

51.7% 69.6%65.9%

115.6%

70.8%

20.0%

45.0%

70.0%

95.0%

120.0%

BBL SCB TCAP BBL KBANK BAY KTB SCIB KK TMB

Peer comparison and market share (Cont.)

Normalized Cost to income Ratio

Excess Reserve to Performing Loans

2.4%

0.9% 0.9% 0.8% 0.8%

0.3% 0.2% 0.1% 0.1%

1.5%

0.0%

1.0%

2.0%

3.0%

BBL TMB SCB SCIB KBANK BAY TISCO KK KTB TBANK

Provision to Gross Loan (basis points)

45.136.8

27.2 26.917.3 16.2 13.3

-11.4

14.1

-27.8

-30.0

-15.0

0.0

15.0

30.0

45.0

TCAP BAY TISCO KBANK BBL SCB KTB SCIB KK TMB

Total NPL

91

5945 40

32 25 8 7 3

70

-

20

40

60

80

100

KTB TMB BBL SCB BAY KBANK SCIB TBANK KK TISCO

THB

billio

n

Source: 1Q09 consolidated financial statements [40]

Net profit growth

5.8% -0.3%-14.0% -14.4% -16.4% -18.3%

115.7%

-51.2%-41.3%-72.6%

-100.0%

-60.0%

-20.0%

20.0%

60.0%

100.0%

TCAP TISCO BAY BBL KBANK KK SCB KTB SCIB TMB

Peer comparison and market share (Cont.)

Net interest margin

4.0%3.7% 3.5% 3.5% 3.5% 3.3%

2.3%3.1% 3.0%

4.0%

3.4%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

TISCO KK KBANK BAY SCB TCAP KTB SCIB BBL TMB Aver age

Net profit

5,5474,869

3,800

2,513 2,1901,028 454 379651 436

25.4% 22.3%17.4%

11.5% 10.0%4.7% 2.1% 1.7%3.0% 2.0%

0

2,000

4,000

6,000

SCB BBL KBANK KTB TCAP BAY SCIB TISCO TMB KK

THB

milli

on

-30.0%

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

ROAE & ROAA

32.0%

3.8%

17.1% 13.1% 11.0% 9.8%6.3% 4.8%

11.8%11.0% 8.8%

1.7% 1.1% 1.2% 1.1% 0.7%2.1%

0.6% 0.6% 1.3%3.3%0.3%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

TCAP SCB BBL KBANK BBL KTB KK SCIB BAY TMB Average

-10.0%-8.0%-6.0%-4.0%-2.0%0.0%2.0%4.0%

ROE (LHS) ROA (RHS)

Source: BOT as of March 09, *2008 consolidated F/S [41]

Peer comparison and market share (Cont.)

Overhead expense to total income*

37.6% 36.4%29.6% 29.1% 28.9% 28.7%

24.5% 22.2%29.3%

38.0%

0.0%

10.0%

20.0%

30.0%

40.0%

TMB BAY TISCO KBANK SCIB KTB BBL SCB KK TCAP

Number of branches

637522 519 492

369317

131 38 29

470

0

100

200

300

400

500

600

KTB BBL SCB KBANK TMB BAY SCIB TBANK KK TISCO

Branch distribution

161 139 49 62 59

500 481 456

1,2611,211

12.8%11.5%

9.8%12.9% 12.9%

-200400600800

1,0001,2001,400

BMA Centre Norheastern North South0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%

TMB Industry market share

Total revenue per employee*

4.80

3.963.52 3.35

2.85 2.822.47 2.37

3.34 2.52

1.0

2.0

3.0

4.0

5.0

KBANK SCB BBL BAY KTB KK SCIB TMB TCAP TISCO

THB

mill

ion

[42]

Company history

1957 TMB Bank Plc. was established on November 1957 with Field Marshal Saridi Dhanarajata as the first Chairman of the Board of

Directors and initial registered capital of THB10 million.1983 The Bank was listed on the Stock Exchange of Thailand (SET) on

December 23, 1983.2004 TMB was merged with DBS Thai Danu and IFCT effectively on

September 1, 2004. Total assets grew to THB700 billion.2005 The Bank rebranded to “TMB Bank Public Company Limited”

with a

new slogan of “Better Partner, Better Value”.2006 The Bank issued US$200 million non-cumulative hybrid debt capital

instruments (Hybrid Tier 1).2007 The Bank succeeded in raising THB37.6 billion new capital. ING

Group, the new major shareholder, holds 31.5% (including via NVDR) and MOF holds 26%.

[43]

Awards and mandates

Lead underwriter of Thai Airways International unsecured debenture of THB 7.5bn & 7.0billion (Oct 08)Lead underwriter of Home Product Center unsecured debenture of THB630million (Nov 08)

Co-lead underwriter of PTT Chemical unsecured debenture of THB12billion (Dec 08)Lead underwriter of Advance Info Service

unsecured debenture of

THB7.5billion (Jan 09)Full service cash management to Central Retail Corporation(Feb 09)Cheque payment to National Housing Authority (Feb 09)

Lead underwriter of

PTT Aromatics unsecured debenture of THB15 billion (Apr 09)

[44]

Disclaimer

This presentation contains some information from other sources, that TMB Bank Public Company Limited does not make any representations regarding the use, validity, accuracy, or reliability of, or the results of the use of information, data but not limited to, all text, and images (“the Content”) on this presentation. Some content may contain forward looking statements, that based on management’s view upon the information currently available to us. These statement are subject to certain risks and uncertainties that could cause the actual results materially differed from what had been previously stated. The materials in this presentation shall not,

and are not intended to, constitute or contain an offer to sell or the solicitation of an offer to buy, any securities of TMB Bank Public Company Limited.

[45]

Thank you

IR contacts:Head of IR departmentPassakorn Linmaneechote CFATel: 662 299 2519Email: passakorn.lin@tmbbank.com

Jittrawadee SrivichitTel: 662 299 1178Email: jittrawadee.sri@tmbbank.com

Taweechai ChachiamchenTel: 662 242 3574Email: taweechai.cha@tmbbank.com