KASIKORNBANK announces the nine-month of 2017 net profit of Baht 28,631 Million

Stocks and Financial Services Press Releases Friday October 20, 2017 10:47
Bangkok--20 Oct--KASIKORNBANK
Mr. Predee Daochai, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the nine-month period of 2017 of Baht 28,631 Million, a decrease of 4.34% over the same period of 2016.

Operating performance for the nine-month period of 2017 compared with the same period of 2016, KBank and its subsidiaries reported net profit of Baht 28,631 Million, a decrease of Baht 1,299 Million or 4.34% over the same period of 2016 mostly because KBank has set aside higher allowance. However, there was Baht 70,647 Million of operating profit before provision expense and income tax expense, an increase of Baht 1,650 Million or 2.39% over the same period of 2016 due mostly to net interest income increased by Baht 3,467 Million or 5.20% and NIM stood at 3.44%. Non-interest income decreased by Baht 652 Million or 1.34% due mostly to a decrease in net insurance premiums, while net fees and service income increased by Baht 1,887 Million or 6.49%. Moreover, other operating expenses increased by Baht 1,165 Million or 2.52%, resulting in the cost to income ratio that stood at 40.16%.

Operating performance for the third quarter of 2017 compared with the second quarter of 2017, KBank and its subsidiaries reported net profit of Baht 9,473 Million, an increase of Baht 487 Million or 5.42% over the previous quarter mostly because net interest income increased by Baht 367 Million or 1.57% and NIM stood at 3.47%. Non-interest income also increased by Baht 468 Million or 2.93% mainly due to an increase in revenue from capital market products and net fees and service income, while net insurance premiums decreased. Moreover, other operating expenses increased by Baht 487 Million or 3.07%, resulting in the cost to income ratio that stood at 40.70%.

As of 30 September 2017, KBank and its subsidiaries' total assets were Baht 2,863,314 Million, rising Baht 20,036 Million or 0.70% 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 3.30% as of 30 September 2017, while at the end of 2016 this stood at 3.32%. Coverage ratio as of 30 September 2017 stood at 140.66%, while at the end of 2016 this stood at 130.92%. In addition, as of 30 September 2017, KASIKORNBANK FINANCIAL CONGLOMERATE's Capital Adequacy Ratio (CAR) according to the Basel III Accord was 18.23%, with a Tier-1 Capital ratio of 15.91%.


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