Bangkok Bank reports third quarter 2017 net profit of Baht 8.2 billion

Stocks and Financial Services Press Releases Friday October 20, 2017 09:27
Bangkok--20 Oct--Bangkok Bank

With the Thai economy continuing to expand 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 16.8 billion, an increase of 4.7 percent compared to the third quarter of last year, with a net interest margin of 2.30 percent. Non-interest income was Baht 11.7 billion, an increase of 7.0 percent, due predominantly to gains on investments and net fees and service income, contributed mainly by mutual funds, bancassurance, and loan-related fees. The Bank's operating expenses were Baht 11.9 billion, a decrease of 1.3 percent, with an expenses to operating income ratio of 41.9 percent. Net profit (attributable to the Bank) for the third quarter of 2017 was Baht 8.2 billion, an increase of 1.2 percent from the same quarter last year.

At the end of September 2017, the Bank's loans were Baht 1,938.6 billion, a similar level to the end of 2016. The ratio of non-performing loans (NPLs) to total loans was 3.8 percent. The Bank continues to closely monitor its loan quality and set aside appropriate provisioning expenses. Total allowances for doubtful accounts were Baht 135.8 billion or 7.0 percent of loans.

In terms of capital, in September 2017 the Bank of Thailand (BOT) announced the guidelines for identifying and regulating Domestic Systemically Important Banks (D-SIBs). Bangkok Bank, which is classified as a D-SIB, is required by the BOT to hold additional capital for higher loss absorbency (HLA) by gradually increasing its additional capital ratio by an increment of 0.5 percent from January 1, 2019 until completion of the increment to 1.0 percent in January 1, 2020 onwards. For the Bank, with the inclusion of net profit for the third quarter 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 19.1 percent, 17.3 percent and 17.3 percent, respectively. Our capital adequacy ratios are adequate to support the additional capital adequacy ratio as the guidelines on D-SIBs. Shareholders' equity as of September 30, 2017, amounted to Baht 393.0 billion or 12.8 percent of total assets. The book value per share was Baht 205.89, an increase of Baht 7.34 from the end of 2016.

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