KBank posts quarterly profits of Bt9.2bn
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Kasikornbank reported consolidated net profit of Bt9.2 billion, which pushed its nine-month earning to Bt27.57 billion.
The quarterly results marked a decrease of Bt155 million or 1.66 per cent from the previous quarter. Stripping out the non-recurring item from stock dividend received in the previous quarter, net profit for this quarter increased by 7.15 per cent over the previous quarter.Net interest margin (NIM) in the quarter stood at 3.55 percentage point.
KBank is the second to report quarterly earnings, after Siam Commercial Bank which reported net profits of Bt10.02 billion. Commercial banks enjoyed loan growth of over 10 per cent in the quarter.
Somkiat Sirichatchai, senior executive vice president of Kasikornbank, said that for the first nine months, net interest income increased by Bt 5 billion or 12.07 per cent as NIM stood at 3.57 per cent. Meanwhile, non-interest income rose Bt4.3 billion or 16.43 per cent due to growth in net fees and service income, as well as net premiums earned.
As of Sept 30, the group's total assets stood at Bt2 trillion, increasing by 6.28 per cent from the previous quarter. Gross non-performing loans stood at 2.07 per cent, against 2.20 per cent in the previous quarter. The Capital Adequacy Ratio (CAR) was 16.53 per cent, including 10.90 per cent Tier-1 capital.
