KBank Q2 earnings boosted
Kasikornbank yesterday reported a net profit of Bt9.36 billion for the second quarter, 4.22 per cent higher than in the previous three months and up 28 per cent year on year thanks to an increase in both net interest income and fee income.
As a result, the bank’s net profit for the first half of the year was Bt18.35 billion, against Bt13.43 billion over the same period last year.
KBank senior executive vice president Somkiat Sirichatchai said the main reason for the second-quarter gain was higher net interest income and non-interest income.
Compared with the first quarter, net interest income increased Bt547 million or 3.67 per cent, while the bank’s net interest margin stood at 3.53 per cent, close to the previous quarter.
Non-interest income increased Bt560 million or 5.68 per cent as a result of continuous increases in net fee and service income, plus dividend income.
KBank’s efficiency ratio was 44.16 per cent, up from the previous quarter’s 41.42 per cent in light of an increase in promotion, advertising and marketing expenses.
As of June 30, Kasikornbankgroup’s assets were Bt1.88 trillion, rising Bt29.88 |billion or 1.61 per cent from the previous quarter and 9.52 per cent over the end of 2011, largely on increases in investments and loans.
Gross non-performing loans stood at 2.2 per cent, marking an improvement over both the previous quarter and the end of last year.
KBank’s capital adequacy ratio (CAR) at the end of the second quarter was 15.56 per cent, with a Tier 1 capital ratio of 9.76 per cent.
Incorporating net profit for the first half of the year and other related items, CAR was 16.86 per cent and the Tier 1 capital ratio stood at 11.06 per cent.
