BBL’s 1Q20 Profit Drops 15% from a Decline of Non-Interest Income by 36%

Bangkok Bank Public Company Limited (BBL) has announced its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

BBL reported a net profit in 1Q20 at 7,670 million baht, decreased 15.04% when compared to a net profit of 9,028 million baht in 1Q19. The decrease was mainly due to the decline in non-interest income by 36.3% mainly from a decrease in gains on investments due to gains on sale of investments of 14,988 million baht in the previous quarter.

Net fees and service income in 1Q20 decreased by 22.4% predominantly due to lower fees from loan-related services.

The expected credit loss sharply decreased as the Bank set aside a one-off higher provision in the previous quarter to strengthen the loan loss reserves before the adoption of the Thai Financial Reporting Standard No.9 (TFRS 9).

Non-performing loan (Gross NPL) at the end of March 2020 was 85,240 million baht. The gross NPLto total loans ratio was 3.5%.