BFIT Reports a 34% Increase in 3Q Profit after Booking Higher NII and Lower ECL!

Srisawad Finance Public Company Limited (BFIT) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

BFIT recorded a net profit of 431 million baht in 3Q20, increased 34.13% when compared to a net profit of 321 million baht in 3Q19. The increase was mainly due to an increase in net interest income and a gain from the disposal of investment, as well as a decrease in expected credit loss in the third quarter of 2020.

 

In 3Q20, BFIT recognized an increase of net interest income by 92.22 million baht due to an increase of interest income by 59.68 million baht and a decrease of interest expense by 32.54 million baht.

The company also recorded an increase of gain on investments by 55.04 million baht is the result of the disposal of investment in the third quarter of the year 2020.

Moreover, a decrease of expected credit loss by 67.83 million baht due to the expected credit loss also benefits BFIT in its 3Q20 earnings.