KASIKORNBANK announces the first quarter of 2018 net profit of Baht 10,766 Million

Stocks and Financial Services Press Releases Friday April 20, 2018 12:45
Bangkok--20 Apr--KASIKORNBANK
Mr. Pipit Aneaknithi, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the first quarter of 2018 of Baht 10,766 Million, an increase of 5.84% over the same period of 2017.

Operating performance for the first quarter of 2018 compared with the first quarter of 2017, KBank and its subsidiaries reported net profit of Baht 10,766 Million, an increase of Baht 595 Million or 5.84% over the same period of 2017 because net interest income increased by Baht 608 Million or 2.63% mainly due to interest income from Repurchase agreement transaction. NIM stood at 3.37%. However, non-interest income decreased by Baht 405 Million or 2.61% due mostly to decrease in net insurance premiums, while net fees and service income increased by 4.71% due to fees from fund management and loans related fee income. Moreover, other operating expenses increased by Baht 765 Million or 5.03% from marketing expense, resulting in the cost to income ratio that stood at 41.20%. Moreover, in this quarter KBank has set aside lower allowance for impairment loss on loans in line with current circumstances.

Operating performance for the first quarter of 2018 compared with the fourth quarter of 2017, KBank and its subsidiaries has operating profit before provision expense and income tax expense of Baht 22,819 Million, an increase of Baht 2,982 Million or 15.03% because other operating expenses seasonally decreased by Baht 2,970 Million or 15.66% due to marketing expense, while non-interest income increased by Baht 336 Million or 2.28% over the previous quarter due to net fees and service income and dividend income. Moreover, KBank has set aside lower allowance for impairment loss on loans by Baht 3,827 Million or 32.87%. For this quarter, net profit stood at Baht 10,766 Million, an increase of Baht 5,059 Million over the previous quarter.

As of 31 March 2018, KBank and its subsidiaries' total assets were Baht 2,994,485 Million, rising Baht 93,644 Million or 3.23% over the end of 2017. The majority came from an increase in interbank and money market items – net and loans. NPL gross to total loans as of 31 March 2018 stood at 3.30% same as of the end of 2017. Coverage ratio as of 31 March 2018 stood at 149.72%, slightly increased from the end of 2017. In addition, as of 31 March 2018, KASIKORNBANK FINANCIAL CONGLOMERATE's Capital Adequacy Ratio (CAR) according to the Basel III Accord was 17.70%, with a Tier-1 Capital ratio of 15.41%.


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