Operating performance for the year of 2014 compared with 2013, KBank and its subsidiaries reported net profit of Baht 46,153 Million, a rise of Baht 4,828 Million or 11.68% over the previous year, due mostly to an increase in net interest income by Baht 10,335Million or 14.20% resulting in a NIM that stood at 3.80%, improving from the previous year due to the gradual maturing of high-rate deposits during the year, which decreased the Bank’s costs of funds. Moreover, non-interest income rose by Baht 8,004 Million or 16.84% due to an increase in net fees and service income and net insurance premiums. The efficiency ratio in this year stood at 44.30%.
Operating performance for the fourth quarter of 2014 compared with the third quarter of 2014, KBank and its subsidiaries reported net profit of Baht 9,967 Million, a decrease of Baht 2,549 Million or 20.37% over the previous quarter. Net interest income increased by Baht 471 Million or 2.21% resulting in a NIM that stood at 3.85%. Net fees and service income decreased by Baht 483 Million or 5.29%. However, other operating expenses increased due to marketing expenses resulting from seasonality and employee’s expenses resulting in a rising efficiency ratio that stood at 50.63% this quarter.
As of 31 December 2014, KBank and its subsidiaries’ total assets were Baht 2,389,137 Million, rising Baht 99,092 Million or 4.33% over the end of 2013, driven by an increase in loans. NPL gross to total loans stood at 2.24% as of 31 December 2014, while at the end of 2013 this stood at 2.11%. Coverage ratio as of 31 December 2014 stood at 141.38% while at the end of 2013 this stood at 134.52%. In addition, as of 31 December 2014, KASIKORNBANK FINANCIAL CONGLOMERATE’s Capital Adequacy Ratio (CAR) according to the Basel III Accord was 17.31%, with a Tier-1 Capital ratio of 13.49%.