KTB’s 3Q18 Profit Hikes 33% to ฿7.8bln. after Lowering NPLs
Even though KTB’s interest and fee/service income were to plunge, the huge amount from lowering NPLs had pushed KTB’s profit to soar 33%.
In 3Q2018, Krung Thai Bank Public Company Limited (KTB)’s net profit was ฿7,838 million, showed the increase of 33.49% compared to 3Q2017. Moreover, net profit also expanded by 1.7% compared to 2Q2018 as well.
KTB’s net interest income was ฿20,890 million, showed the decrease of 2.8% from 3Q2017 due to the gradual expansion of overall loan portfolio over the year, despite the bank has controlled its cost of fund at the appropriated level.
Fee and service income was reported for ฿5,657 million, compressed by 2.6% and 3.0% from 3Q2017and previous quarter respectively, by cause of the impact from fee waiver for inter-region and inter-bank money transfer, bill payment and top up made on internet banking platform (KTB Netbank) as well as the decrease in loan related fee.
However, KTB was able to lower its NPLs from ฿9.9 billion in 3Q17 to ฿6 billion in 3Q18, which was a huge amount of 38% for KTB.
