KASIKORNBANK announces the first quarter of 2019 net profit of Baht 10,044 Million

Stocks and Financial Services Press Releases Friday April 19, 2019 09:16
Bangkok--19 Apr--KASIKORNBANK

Mr. Predee Daochai, President of KASIKORNBANK, said although domestic economic activities continued to grow during the first quarter of 2019, the overall economic recovery remained weak on the back of the slowing growth in the export and tourism sectors amid the sluggish global economy. Due to these challenges, businesses had to contend with new modes of competition, regulatory changes and technological changes which have affected consumer behavior.

Operating performance for the first quarter of 2019, KBank and its subsidiaries reported net profit of Baht 10,044 Million, a decrease of Baht 722 Million or 6.70% over the same period of 2018.

Operating performance for the first quarter of 2019 compared with the first quarter of 2018, KBank and its subsidiaries reported net profit of Baht 10,044 Million, a decrease of Baht 722 Million or 6.70% over the same period of 2018. Net interest income increased by Baht 1,556 Million or 6.57% mainly due to interest income from loans to customers and investments. NIM stood at 3.32%, while non-interest income decreased by Baht 2,871 Million or 19.00% mainly due to fees waive for money transfers through digital channel and decrease in net premiums earned - net. Cost to income ratio in this quarter stood at 42.70%.

Operating performance for the first quarter of 2019 compared with the fourth quarter of 2018, KBank and its subsidiaries reported operating profit before impairment loss on loans and debt securities and income tax expense of Baht 21,483 Million, an increase from the preceding quarter of Baht 2,946 Million or 15.89% because other operating expenses seasonally decreased by Baht 3,469 Million or 17.81% due to marketing expenses. Net interest income decreased by Baht 219 Million or 0.86% and non - interest income decreased by Baht 304 Million or 2.43% due mostly to a decrease in net premiums earned - net, while revenue from money market and capital market products increased. Moreover, KBank has set aside lower allowance for impairment loss on loans by Baht 928 Million or 10.91%. For this quarter, net profit stood at Baht 10,044 Million, an increase of Baht 3,011 Million over the previous quarter.

As of 31 March 2019, KBank and its subsidiaries' total assets were Baht 3,150,641 Million, a decrease of Baht 4,450 Million or 0.14% over the end of 2018. The majority came from a decrease in interbank and money markets item – net while investments - net increased. NPL gross to total loans as of 31 March 2019 stood at 3.44% due to change in asset quality management to reduce sales of some NPLs and manage portfolio by the Bank, which we expect a greater recovery rate in the long-term. As a result, the NPL ratio rose while at the end of 2018 this stood at 3.34%. Coverage ratio as of 31 March 2019 stood at 158.78%, while at the end of 2018 this stood at 160.60%. In addition, as of 31 March 2019, KASIKORNBANK FINANCIAL CONGLOMERATE's Capital Adequacy Ratio (CAR) according to the Basel III Accord was 18.12%, with a Tier-1 Capital ratio of 15.73%.


Latest Press Release

NEXT BLOCK ASIA Beyond Crypto

NEXT BLOCK ASIA + Fabulous Bangkok After-Party Bangkok, Thailand will host the 2-day NEXT BLOCK ASIA "Beyond Crypto" by Krypton Events and CoinAdvice on 25-26 June 2019 at the W Hotel. The conference will bring together experts from CRYPTO and BEYOND,...

Photo Release: EXIM Thailand Visits Deputy Governor of State Bank of Vietnam To Discuss Thai Investment Prospects in Vietnam

Mrs. Warangkana Wongkhaluang (second left), Senior Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently paid a visit to Mr. Doan Thai Son (center), Deputy Governor of State Bank of Vietnam in Hanoi to discuss monetary...

Photo Release: EXIM Thailand Visits Thai Ambassador to Hanoi Discussing Ways to Promote Thai-Vietnamese Trade and Investment

Mrs. Warangkana Wongkhaluang (second left), Senior Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), recently paid a courtesy visit to His Excellency Mr. Tanee Sangrat (center), Ambassador of Thailand to Vietnam and Miss...

TMB re-affirms its leadership position in the Thai banking industry by launching the first ever Multi Currency Account in Thailand allowing exporters to manage six major currencies in one account

TMB continues to develop digital solutions that truly meet customer's need, creating positive changes to customer's life, along with its Make THE Difference philosophy, to re-affirm its market leadership position. TMB today becomes the first bank in...

Fitch Rates EXIM#s USD300 Million Senior Notes Final #BBB+#

Fitch Ratings has assigned Export-Import Bank of Thailand's (EXIM, BBB+/Stable) USD300 million five-year senior unsecured notes a final rating of 'BBB+'. The notes were issued under the bank's USD1.5 billion medium-term note (MTN) programme. The...

Related Topics