KASIKORNBANK announces the nine-month period of 2018 net profit of Baht 31,426 Million

Stocks and Financial Services Press Releases Friday October 19, 2018 09:28
Bangkok--19 Oct--KASIKORNBANK

Mr. Pipit Aneaknithi, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the nine-month period of 2018, KBank and its subsidiaries reported net profit of Baht 31,426 Million, an increase of Baht 2,795 Million or 9.76% over the same period of 2017.

Operating performance for the nine-month period of 2018 compared with the same period of 2017, KBank and its subsidiaries reported net profit of Baht 31,426 Million, an increase of Baht 2,795 Million or 9.76% over the same period of 2017 mostly because KBank had set aside lower allowance. Moreover, Net interest income increased by Baht 2,926 Million or 4.17% mainly due to interest income from loans to customers, investment and Interbank and money market items. NIM stood at 3.41%. Non-interest income decreased by Baht 3,520 Million or 7.34% due mostly to decrease in net premiums earned - net and fees waive for money transfers through digital channel, while revenue from money market product increased from foreign exchange transaction. Moreover, other operating expenses increased by Baht 1,456 Million or 3.07% mainly due to marketing expense and employee expenses, resulting in the cost to income ratio that stood at 41.60%.

Operating performance for the third quarter of 2018 compared with the second quarter of 2018, KBank and its subsidiaries reported net profit of Baht 9,744 Million, a decrease of Baht 1,173 Million or 10.75%. Net interest income increased by Baht 637 Million or 2.62%. NIM stood at 3.43%, while non-interest income decreased by Baht 3,187 Million or 19.63% due mostly to net premiums earned – net and revenue from capital market product as a result of one time sale of securities and dividend income. Moreover, other operating expenses decreased by Baht 471 Million or 2.83%, resulting in the cost to income ratio in this quarter that stood at 42.58%.

As of 30 September 2018, KBank and its subsidiaries' total assets were Baht 3,053,804 Million, rising Baht 152,963 Million or 5.27% over the end of 2017. The majority came from an increase in investment – net and loans. NPL gross to total loans as of 30 September 2018 stood at 3.30% same as the end of 2017. Coverage ratio as of 30 September 2018 stood at 155.95%, rising from the end of 2017 that stood at 148.45%. In addition, as of 30 September 2018, KASIKORNBANK FINANCIAL CONGLOMERATE's Capital Adequacy Ratio (CAR) according to the Basel III Accord was 18.96%, with a Tier-1 Capital ratio of 16.50%.


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