KKP’s 2019 Profit Edges Slightly Lower to ฿5,988 Million, Loan Portfolio Grows 4%

Kiatnakin Bank Public Company Limited (KKP) has reported its yearly consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;

The net profit of KKP for the year 2019 totaled Baht 5,988 million, a decrease of 0.9% from Baht 6,042 million in 2018. Operating income amounted to Baht 19,168 million, an increase of 5.9% driven by the increase in net interest income of 9.4% mainly from growth in loan portfolio with non-interest income also increasing slightly by 0.2%. Meanwhile, operating expenses also increased due to higher loss from sale of foreclosed assets.

During 2019, the overall Bank’s loan portfolio grew by 4.2% from the end of 2018 with growth in the Real estate development segment, SME segment and across Retail loan segment except in the hire purchase segment which contracted during 2019. For asset quality, the Non-Performing Loans (NPLs) to total loans ratio for 2019 declined to 4.0% from 4.1% at the end of 2018.