KASIKORNBANK announces 2017 net profit of Baht 34,338 Million

Stocks and Financial Services Press Releases Friday January 19, 2018 09:22
Bangkok--19 Jan--KASIKORNBANK
Mr. Predee Daochai, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the year of 2017 of Baht 34,338 Million, a decrease of 14.53% over the previous year.

Operating performance for the year of 2017 compared with 2016, KBank and its subsidiaries has operating profit before provision expense and income tax expense of Baht 90,484 Million, an increase of Baht 935 Million or 1.05% over the previous year mostly because net interest income increased by Baht 4,483 Million or 5.00% and NIM stood at 3.44%. Non-interest income decreased by Baht 1,030 Million or 1.62% due mostly to a decrease in net insurance premiums, while net fees and service income increased by Baht 2,363 Million or 6.07%. Moreover, other operating expenses increased by Baht 2,518 Million or 3.94%, resulting in the cost to income ratio that stood at 42.31%. During the year of 2017, KBank has set aside higher allowance for impairment loss on loans to maintain sustainable solid financial position, improving coverage ratio to 148.45% as of 31 December 2017 from 130.92% at the end of 2016. For the year of 2017, net profit stood at Baht 34,338 Million, a decrease of Baht 5,836 Million or 14.53% over the previous year.

Operating performance for the fourth quarter of 2017 compared with the third quarter of 2017, KBank and its subsidiaries reported net profit of Baht 5,707 Million, a decrease of Baht 3,766 Million or 39.75% over the previous quarter mostly because net interest income increased by Baht 310 Million or 1.31% and NIM stood at 3.49%, while non-interest income decreased by Baht 1,659 Million or 10.10% mainly due to revenue from capital market products. Other operating expenses increased by Baht 2,621 Million or 16.04% due to premises and equipment expenses and marketing expense due to seasonality, resulting in the cost to income ratio that stood at 48.87%. KBank still efficiently managed expense as yearly targeted. Moreover, KBank has set aside higher allowance for impairment loss on loans in this quarter.

As of 31 December 2017, KBank and its subsidiaries' total assets were Baht 2,900,841 Million, rising Baht 57,563 Million or 2.02% over the end of 2016. The majority came from an increase in loans. NPL gross to total loans stood at 3.30% as of 31 December 2017, while at the end of 2016 this stood at 3.32%. In addition, as of 31 December 2017, KASIKORNBANK FINANCIAL CONGLOMERATE's Capital Adequacy Ratio (CAR) according to the Basel III Accord was 17.96%, with a Tier-1 Capital ratio of 15.66%


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