Higher Revenue Growth Buoys KTC’s 2Q and 1H Profit to Grow 1.3% and 16%!

Krungthai Card Public Company Limited (KTC) has announced its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

KTC has recorded a net profit of THB 1,323 million in the second quarter of 2019, increased 1.33% from a net profit of THB 1,305 million in 2Q18. Meanwhile, the net profit for the first half of 2019 grew 16% YoY to THB 2,913 million due to a 7% revenue growth. The total expenses increased by 3% YoY.

Total revenue for the first half was THB 11,102 million, owing to the growth in interest income from both credit card and personal loan receivables of 7% YoY and 8% YoY respectively, along with the increase in fee income (excluding credit usage fee) of 5% YoY, and the increase in income from bad debts recovery of 3% YoY.

The company’s total NPL stood at 1.13%, down from that of 1.14% at the end of 2018, and lower compared to the same period of last year and the last quarter at 1.27% and 1.18% respectively.