KASIKORNBANK announced the first half of 2017 net profit of Baht 19,157 Million

Stocks and Financial Services Press Releases Friday July 21, 2017 11:29
Bangkok--21 Jul--KASIKORNBANK
Mr. Predee Daochai, President of KASIKORNBANK, saidKASIKORNBANK announced net profit for the first half of 2017 of Baht 19,157 Million, approximate to the same period of 2016, of Baht 19,074 Million.

Operating performance for the first half of 2017 compared with the first half of 2016, KBank and its subsidiaries reported net profit of Baht 19,157 Million, approximate to the same period of 2016, of Baht 19,074 Million. Net interest income increased by Baht 2,108 Million or 4.76% and NIM stood at 3.42%. However, non-interest income decreased by Baht 1,614 Million or 4.88% due mostly to decreases in net insurance premiums and revenue from capital market products, while net fees and service income increased from the same period of 2016 and KBank has still set aside allowance for impairment loss on loans in line with economic circumstances. Moreover, other operating expenses increased by Baht 635 Million or 2.09%, resulting in the cost to income ratio that stood at 39.88%.

Operating performance for the second quarter of 2017 compared with the first quarter of 2017, KBank and its subsidiariesreported net profit of Baht 8,986 Million, a decrease of Baht 1,185 Million or 11.65% over the previous quarter mostly because KBank has set aside higher allowance for impairment loss on loans to reserve for uncertainty from economic circumstances. However, there was Baht 23,459 Million of operating profit before provision expense and income tax expense, approximate to the previous quarter of Baht 23,381 Million. Net interest income increased by Baht 255 Million or 1.11% and NIM stood at 3.43%. Moreover, non-interest income increased by Baht 450 Million or 2.90% over the previous quarter due mostly to increases in net fees and service income and revenue from capital market products, while other operating expenses increased by Baht 627 Million or 4.12%, resulting in the cost to income ratio that stood at 40.32% in this quarter.

As of 30 June 2017, KBank and its subsidiaries' total assets were Baht 2,853,339 Million, rising Baht 7,471 Million or 0.26% over the end of 2016. The majority came from an increase in interbank and money market items – net and loans. NPL gross to total loans stood at 3.31% as of 30 June 2017, while at the end of 2016 this stood at 3.32%. Coverage ratio as of 30 June 2017 stood at 141.17%, while at the end of 2016 this stood at 130.92%. In addition, as of 30 June 2017, KASIKORNBANK FINANCIAL CONGLOMERATE's Capital Adequacy Ratio (CAR) according to the Basel III Accord was 17.63%, with a Tier-1 Capital ratio of 15.25%.


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