KTB has Better-Than-Expect Performance in 1Q19 Statement, Booking ฿7.3bln. of Profit

Krung Thai Bank Public Company Limited (KTB) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

In 1Q19, KTB’s consolidated net profit attributable to equity holders of KTB was THB 7,301 million, or a growth of 7. 6% YoY, mainly due to interest income from loan in relation to partial payment from the auction of mortgaged guarantee assets and to an increase of other non- interest income whilst a continual impact of fee waiver via digital channel and higher expense on impairment loss of properties foreclosed.

Furthermore, loan has a gradual growth of 0.4% YTD, which derived mainly from retail loans (both personal and housing loans) and from private corporate.

KTB’s consolidated total operating income registered at THB 33,593 million, growing 13.8% YoY, mainly due to the net interest income that increased by 20.0% YoY while net interest margin (NIM) excluding income received from the auction of mortgaged guarantee asset stood at 3.15%, increasing from 3.07% in 1Q2018.

 

However, Non-interest income decreased by 0.3% YoY, which mainly due to the contraction of net fee and service income by 8.5% from continual impact of fee waiver via digital channel while other non-interest income grew 17.6% YoY from gains on properties foreclosed and on investment.

The Bank’s consolidated NPLs Ratio-Gross as at March 31, 2019 was 4.50%, reduced from 4.53% as at December 31, 2018. NPLs Ratio-Net was 1.94% unchanged to December 31, 2018.

 

Earlier, analysts had made an analysis given an estimation that KTB would recorded a net profit of THB 6,077 million, down THB 709 million or 10.44% YoY.