KKP’s 2Q21 Increases 14% to ฿1.3Bn as Income Edges Higher
KKP reported a net profit of 1,354 million baht in 2Q21, increased 14.36%, mainly due to an increase in income.
Kiatnakin Phatra Bank Public Company Limited (KKP) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
KKP reported a net profit of 1,354 million baht in 2Q21, increased 14.36% when compared to a net profit of 1,184 million baht in 1Q20.
Net interest income rose by 5.0% while non-interest income rose by 56.9% YoY. Overall operating expenses continued to be well-controlled resulting in cost to income ratio for 2Q21 to decline YoY to 39.2%.
KKP stated that the bank remained prudent when considering the level of provisions taking into account the resurgence of the new COVID-19 cases which has intensified during 2Q21 and as such recorded total expected credit loss amount for 2Q21 at 1,378 million baht, which was still at an elevated level commensurate with the increase in the current situation uncertainties.
The Non-Performing Loans (NPLs) to total loans ratio for 2Q21 increased to 3.4% from 3.2% at the end of 1Q21 with total allowance for expected credit losses to total NPLs ratio (coverage ratio) at 160.1% for 2Q21.