KASIKORNBANK announces the first quarter of 2017 net profit of Baht 10,171 Million

Stocks and Financial Services Press Releases Friday April 21, 2017 09:42
Bangkok--21 Apr--KASIKORNBANK
Mr. Predee Daochai, President of KASIKORNBANK, saidKASIKORNBANK announced net profit for the first quarter of 2017 of Baht 10,171 Million, an increase of 5.45% over the same period of 2016.

Operating performance for the first quarter of 2017 compared with the first quarter of 2016, KBank and its subsidiaries reported net profit of Baht 10,171 Million, an increase of Baht 525 Million or 5.45% over the same period of 2016 because net interest income increased by Baht 888 Million or 4.00%. NIM stood at 3.41%. However, non-interest income decreased by Baht 2,034 Million or 11.59% due mostly to decreases in net insurance premiums and revenue from capital market products. Moreover, KBank has set aside allowance for impairment loss on loans in line with economic circumstances. Cost to income ratio stood at 39.44% in this quarter.

Operating performance for the first quarter of 2017 compared with the fourth quarter of 2016, KBank and its subsidiaries reported net profit of Baht 10,171 Million, a decrease of Baht 73 Million or 0.71% over the previous quarter mostly because KBank has set aside higher allowance for impairment loss on loans to reserve for uncertainty from economic circumstances. However, there was Baht 23,381 Million of operating profit before provision expense and income tax expense, an increase of Baht 2,830 Million or 13.77% over the previous quarter mainly because other operating expenses decreased by Baht 2,382 Million or 13.53%. Moreover, non-interest income increased by Baht 364 Million or 2.40% over the previous quarter due mostly to increases in net fees and service income, net insurance premiums and revenue from capital market products, resulting in the cost to income ratio that stood at 39.44% in this quarter.

As of 31 March 2017, KBank and its subsidiaries' total assets were Baht 2,847,204 Million, rising Baht 1,336 Million or 0.05% over the end of 2016. The majority came from an increase in interbank and money market items - net. NPL gross to total loans stood at 3.31% as of 31 March 2017, while at the end of 2016 this stood at 3.32%. Coverage ratio as of 31 March 2017 stood at 134.94%, while at the end of 2016 this stood at 130.92%. In addition, as of 31 March 2017, KASIKORNBANK FINANCIAL CONGLOMERATE's Capital Adequacy Ratio (CAR) according to the Basel III Accord was 17.51%, with a Tier-1 Capital ratio of 15.03%.


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