KTB’s 2019 Profit Hikes 2.8% from Higher Operating Incomes and Gain on Investments

Krung Thai Bank Public Company Limited (KTB) has reported its yearly consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;

KTB’s net profit in 2019 was THB 29,284 million, increased 2.8% YoY due to higher total operating incomes from loan in relation to partial payment from the auction of mortgaged guarantee assets of THB 3,899 million in 1Q2019 as well as from other non-interest income (gain on investments), despite higher operating expenses from provision for impairment of properties foreclosed and from provision expense on employees’ benefits. If excluding such extraordinary items, net profit of KTB would increased by 18.2% YoY.

 

Non-interest income increased by 11.4% YoY, which mainly due to the 42.9% growth of other non-interest income from gain on investments from share of profit from investments in equity method and from gain on selling properties foreclosed. However,net fee and service income contracted by 1.8%.

 

The Bank’s consolidated NPLs Ratio-Gross as at December 31, 2019 was 4.33%, down from 4.53% as at December 31, 2018 and from 4.58% as at September 30, 2019. NPLs Ratio-Net stood at 1.83%, a decrease from1.94% as at December 31, 2018 and from 1.92% as at September 30, 2019.