Amid the ongoing economic uncertainties, Bangkok Bank continues to place importance on prudent risk management, together with maintaining its financial stability, liquidity, and capital at an appropriate level. Meanwhile, Bangkok Bank places a high value on working closely with customers and advising them on how to modify their business model in response to the changing market situation, including digital technology, new innovations, environmental, social, and governance trends. This is to create value for customers to grow their businesses in a sustainable way in line with our philosophy to be a trusted partner and reliable close friend.
Bangkok Bank reports a net profit of Baht 10,129 million for the first quarter of 2023
Bangkok Bank and its subsidiaries reported a net profit of Baht 10,129 million in the first quarter of 2023, increasing from the fourth quarter of 2022. Net interest income was at a similar level to the previous quarter from higher interest income following the rise in interest rates, offsetting higher interest expenses due to the increase in deposit rate and the resumption of the FIDF fee at a normal rate of 0.46 percent. The net interest margin was 2.84 percent. Non-interest income increased mainly from gains on financial instruments measured at FVTPL in line with the market situation, and net fees and service income slightly increased. The cost to income ratio declined to 46.8 percent. In accordance with the Bank's prudent management, the expected credit losses were set aside at Baht 8,474 million, considering global economic volatility that may affect the Thai economy's recovery in the future.
Source: Bangkok Bank