Bangkok Bank leads growth in revenues for Q3
More listed banks reported growing revenues in the third quarter year-on-year as expected.
Bangkok Bank recorded third quarter net profit of Bt7.6 billion, up by 22.3 per cent year on year.
As of September 30, the bank's net profit grew by 13.1 per cent to Bt21.4 billion.
Krung Thai Bank yesterday reported a consolidated third-quarter net profit of Bt5.49 billion, up from Bt4.99 billion in the same quarter last year.
That brought net profit for the first three quarters up 42 per cent to Bt16.22 billion.
Apisak Tantivorawong, president of KTB, said the key drivers of its third-quarter results compared with the second quarter were net interest income, which increased by 30 per cent to Bt3.06 billion, and non-interest income, up by 11 per cent to Bt2.92 billion.
Operating income before tax in the first nine months was Bt28.16 billion, higher than targeted, so KTB set aside a reserve of Bt1.5 billion in the third quarter to prepare for the economic volatility next year.
As a result, its net profit in the first nine months was increased by 42 per cent to Bt16.22 billion.
As of September 30, KTB’s outstanding loans were Bt1.32 trillion, up by 6 per cent from the beginning of the year, while deposits increased slightly by 2 per cent to Bt1.27 trillion and NPLs improved to 2.75 per cent from 3.03 per cent.
Bank of Ayudhya and its affiliates posted a combined third-quarter net profit of Bt3 billion, up 28.7 per cent from a year ago.
Mark Arnold, president and CEO of Krungsri Group, said that amid high global financial volatility, together with the domestic challenge posed by flooding since early last month, its performing loan growth year-to-date reached 8.8 per cent, driven by all business segments.
Asset quality improved with NPLs falling sharply to Bt32.7 billion from Bt38.1 billion, or from 5.5 per cent to 4.3 per cent of total loans on a gross basis, while coverage increased from 89 per cent to 99 per cent.
This prompted Krungsri Group to keep its performing loan growth target at 11 per cent.
Krungsri Group ended the third quarter with Bt914 billion in assets, Bt697 billion in loans and Bt678 billion in deposits and bills of exchange.
