An Improvement in NII and Lower Impairment Loss Buoys KTB’s 2Q Profit to Reach ฿8.17bn!

Krung Thai Bank Public Company Limited (KTB) has announced its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

In the second quarter of 2019, KTB’s net profit was THB 8,170 million, a growth of 6.0% due to continual loan growth. Moreover, operating expenses continued to increase as a consequence from an improvement of net interest income and lower impairment loss of loans and debt securities, despite higher operating expenses from provision for impairment of properties foreclosed.

In the first half of 2019, KTB’s net profit was THB 15,471 million, or a growth of 3.49% YoY, mainly due to higher net interest income from both interest income from loan in relation to partial payment from the auction of mortgaged guarantee assets in 1Q2019 and from lower interest expense whilst a continual impact of fee waiver via digital channel and higher expense on impairment loss of properties foreclosed. Furthermore, loan has a growth of 2.0% YTD, which derived mainly from private corporate loans and retail loans (both personal and housing loans).

The Bank’s consolidated NPLs Ratio-Gross as at June 30, 2019 was 4.68%, rose from 4.53% and 4.50% as at December 31, 2018 and March 31, 2019 respectively.