KTC’s 2018 Profit Skyrocket 56% to ฿5.14bln. from Growth of Credit Card and Personal Loan

Krungthai Card Public Company Limited (KTC) has announced its consolidated financial statement through the Stock Exchange of Thailand as follows:

KTC’s net operating profit for 2018 amounted to ฿5,140 million, up 56%. This was due to the company’s capabilities in generating sustainable income from its main businesses both credit card and a personal loan; in managing effective funding, thus continuing low funding cost; and in constantly improving work efficiency, therefore sustaining well managed of total administrative expense.

Income from bad debts recovery also continued to increase. And, as a result of the high quality of receivables portfolio, the total amount of bad debts and doubtful accounts was down from last year. All these positive factors had contributed to the company’s sustainable profit growth.

Total revenue for 2018 increased to ฿21,198 million. Of its total, credit card interest income, personal loan interest income, total fee income and other incomes were accounted for 27%, 32%, 23% and 18% respectively.

Total revenue was contributed by the decrease in credit card interest income of 1% (yoy), the increase in personal loan interest income of 13% (yoy) and the increase in fee income (excluding credit usage fee) of 13% (yoy).