KKP’s Faces 10% Loss in 3Q18 Profit from Remeasurement of Available-for-Sale Securities
KKP’s third quarter of 2018 has plunged by 10% due to bad remeasurement of available-for-sale securities, and currency translation differences.
Kiatnakin Bank Public Company Limited (KKP) has announced its 3Q18 consolidated financial statement through the Stock Exchange of Thailand as follows:
KKP’s profit plunged almost 10% from ฿1.7 billion in 2Q17 to ฿1.5 billion in 3Q18, but in the overall 9 months period, KKP’s profit was still higher than 2017 by 4.12% at ฿4.6 billion baht.
The bank was able to gain profit from interest income and surprisingly fees and service income. However, KKP faced a huge loss for ฿68 million from the remeasurement of available-for-sale securities, and almost ฿12 million from currency translation differences.
