KBank net profit up 5.84% for 1Q
A net income increase due to income from a repurchase agreement transaction helped Kasikornbank achieve a first-quarter 2018 net profit of Bt10.766 billion, a 5.84 per cent increase over the same period of 2017.
Net interest income increased by Bt608 million or 2.63 per cent, mainly due to interest income from a repurchase agreement transaction, according to a press release on Friday.
The net interest margin (NIM) was 3.37.
However, non-interest income decreased by Bt405 million or 2.61 per cent, due mostly to a decrease in net insurance premiums, while net fees and service income increased by 4.71 per cent due to fees from fund management and loans related fee income, said the release
Other operating expenses increased by Bt765 million or 5.03 per cent from marketing expenses. That resulted in a cost-to-income ratio that stood at 41.20 per cent.
For this quarter, KBank set aside a lower allowance for impairment loss on loans in line with current circumstances.
