Mr. Aphinant Klewpatinond, Chief Executive Officer, Kiatnakin Phatra Financial Group, revealed that the analysis by KKP Research shows the Thai economy in 2023 is still at risk of high inflations, rising interest rates, and global economic recession, which will have a wide impact on all customer groups and credit quality. As a result, KKP will adopt a prudent growth plan to expand the potential customer base and scale up the Group's synergy through cross-selling. Moreover, KKP will continue to leverage its savings and investment digital platforms, including Dime and Edge. At present, the Dime application has over 100,000 users and KKP plans to work with partners to expand a customer base and develop application features to better meet the needs of diverse customer groups.
Mr. Aphinant also commented on the recent business performance that "KKP's net profit in 2022 was THB 7,602 million, up by 20.3 percent from the previous year. This increase was mainly driven by commercial banking which saw loan growth in all segments up to 21.4 percent. Capital market continued to generate good revenue, and brokerage business was able to retain #1 market share. Fund management also saw an increase in revenue, while investment business grew considerably from equity and derivative trading in volatile market conditions. Investment banking revenue was satisfactory, largely contributed by transactions in the second half of 2022, while wealth management's asset under advice (AUA) was roughly at THB 700 billion."
Mr. Philip Chen Chong Tan, President, Kiatnakin Phatra Bank Public Company Limited, further commented on commercial banking that the Bank has achieved record-breaking results in 2022. Loan portfolio grew at 21.4 percent, resulting in an increase in both interest and fee incomes. However, as the economic outlook for 2023 remains precarious, the Bank will continue to focus on smart growth in potential customer groups and collateralized loans such as auto hire-purchase and home loans. Moreover, it plans to penetrate markets for the newly launched "Rod Riak Ngern" and leverage banking digital channels, including the KKP Mobile and Edge, to link banking services to investment services offered by KKP.
Mr. Preecha Techarungchaikul, Head of Finance and Budgeting, Kiatnakin Phatra Bank Public Company Limited, revealed financial information for 2022 that "KKP had a net profit of THB 7,602 million, up by 20.3 percent. Comprehensive income was THB 10,120 million, up by 43.2 percent from 2021, divided into a net profit of THB 758 million and a comprehensive income of THB 1,077 million from capital market. Provision in 2022 remained high compared to 2021, with an NPL coverage ratio of 154.4 percent. Furthermore, the Bank saw an increase in both net interest and non-interest incomes. Net interest income amounted to THB 19,081 million, up by 21.5 percent, while non-interest income was THB 8,457 million, down by 1 percent from 2021. The Bank had a BIS ratio of 16.26 percent, which was calculated according to the Basel III rules and included profits up to the end of 2022, and Common Equity Tier 1 of 12.88 percent."
Source: Kiatnakin Phatra Financial Group