Bangkok Bank reports second quarter 2017 net profit of Baht 8.0 billion

Stocks and Financial Services Press Releases Friday July 21, 2017 11:37
Bangkok--21 Jul--Bangkok Bank

With the Thai economy expected to expand at a modest rate amidst ongoing uncertainties over the global economic recovery, Bangkok Bank continues its prudent approach on financial management, maintaining liquidity and capital positions at levels sufficient to support future business expansion and cope with uncertainties that may arise, to ensure financially sustainable business expansion.

Bangkok Bank and its subsidiaries' net interest income amounted to Baht 16.6 billion, an increase of 6.2 percent compared to the second quarter of last year, with a net interest margin of 2.31 percent. Non-interest income amounted to Baht 11.5 billion, an increase of 24.0 percent, due predominantly to gains on investments and net fees and service income, which contributed mainly from fee income from mutual funds, bancassurance, and electronic services and remittances. The Bank's operating expenses were Baht 12.8 billion, an increase of 2.0 percent, with a ratio of expenses to operating income of 45.8 percent. Net profit (attributable to the Bank) for the second quarter of 2017 amounted to Baht 8.0 billion, an increase of 12.2 percent from the same quarter last year.

At the end of June 2017, the Bank's loans amounted to Baht 1,978.4 billion, an increase of 1.9 percent from the end of 2016 due to an increase in loans to large corporates. The ratio of non-performing loans (NPLs) to total loans was 3.7 percent due to the slow economic recovery impacting business solvency. The Bank continues to closely monitor its loan quality and set aside appropriate provisioning expenses. Total allowances for doubtful accounts were Baht 129.9 billion or 6.6 percent of loans.

In terms of capital, with the inclusion of net profit for the six months ending June 30, 2017, the total capital adequacy ratio, the common equity Tier 1 capital adequacy ratio and the Tier 1 capital adequacy ratio of the Bank and its subsidiaries would be approximately 18.9 percent, 17.1 percent and 17.1 percent, respectively. Shareholders' equity as of June 30, 2017, amounted to Baht 384.5 billion or 12.6 percent of total assets. The book value per share was Baht 201.45, an increase of Baht 2.89 from the end of 2016.


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