KASIKORNBANK announces thenine-month of 2016 net profit of Baht 29,930 Million

Stocks and Financial Services Press Releases Friday October 14, 2016 13:12
Bangkok--14 Oct--KASIKORNBANK
Ms. Kattiya Indaravijaya, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the nine-month period of 2016 of Baht 29,930 Million, a decrease of 11.96% over the same period of 2015.

Operating performance for the nine-month period of 2016 compared with the same period of 2015, KBank and its subsidiaries reported net profit of Baht 29,930 Million, a decrease of Baht 4,067 Million or 11.96% over the same period of 2015 mostly because KBank has set aside higher allowance for impairment loss on loans to reserve for uncertainty from economic slowdown. However, there was Baht 68,997 Million of operating profit before provision expense and income tax expense, an increase of Baht 4,661 Million or 7.24% over the same period of 2015 because net interest income increased by Baht 3,486 Million or 5.52%. NIM stood at 3.55%. Non-interest income also increased by Baht 599 Million or 1.25% mainly due to an increase in net fees and service income and revenue from capital market products, while net insurance premiums decreased. Moreover, other operating expenses decreased by Baht 576 Million or 1.23%, resulting in the cost to income ratio that stood at 40.13%.

Operating performance for the third quarter of 2016 compared with the second quarter of 2016, KBank and its subsidiaries reported net profit of Baht 10,856 Million, an increase of Baht 1,428 Million or 15.16% over the previous quarter because KBank has set lower allowance for impairment loss on loans.

Operating performance for the third quarter of 2016 compared with the third quarter of 2015, KBank and its subsidiaries reported net profit of Baht 10,856 Million, an increase of Baht 739 Million or 7.31% over the same quarter of 2015.

As of 30 September 2016, KBank and its subsidiaries' total assets were Baht 2,742,207 Million, rising Baht 186,902 Million or 7.31% over the end of 2015. The majority came from an increase in investment – net. NPL gross to total loans stood at 3.35% as of 30 September 2016, while at the end of 2015 this stood at 2.70%. Coverage ratio as of 30 September 2016 stood at 127.27%, while at the end of 2015 this stood at 129.96%. In addition, as of 30 September 2016, KASIKORNBANK FINANCIALCONGLOMERATE's Capital Adequacy Ratio (CAR) according to the Basel III Accord was 19.46%, with a Tier-1 Capital ratio of 15.69%.


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