Bangkok--18 Apr--KASIKORNBANK
Mr. Teeranun Srihong, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the first quarter of 2014 of Baht 11,939 Million, a rise of 25.32% from the previous quarter and 18.14% over the previous year.
Operating performance for the first quarter of 2014 compared with the fourth quarter of 2013, KBank and its subsidiaries reported net profit of Baht 11,939 Million, a rise of Baht 2,412 Million or 25.32% over the previous quarter, due mostly to an increase in non-interest income by Baht 1,998 Million or 17.11% due to revenue from money market and capital market products as well as net premiums earned. Net interest margin (NIM) stood at 3.61%, close to the previous quarter due to the maturity of high-rate deposits and the redemption of the Subordinated Debentures, which decreased the Bank’s cost of fund. Moreover, total operating expenses in this quarter decreased from the previous quarter due to seasonality.
Operating performance for the first quarter of 2014 compared with the first quarter of 2013, KBank and its subsidiaries reported net profit of Baht 11,939 Million, a rise of Baht 1,833 Million or 18.14% over the same period of 2013, due mostly to an increase in net interest income of Baht 2,289 Million or 13.31% from an expansion of loans. Non-interest income increased by Baht 2,196 Million or 19.13% due to revenue from money market and capital market products and net premiums earned. Net interest margin (NIM) increased from the same period of 2013 and the efficiency ratio stood at 39.95% in this quarter, close to the same period of 2013.
As of 31 March 2014, KBank and its subsidiaries’ total assets were Baht 2,308,996 Million, rising Baht 18,951 Million or 0.83% over the end of 2013, due to commercial loan which slowed down from economic circumstances. NPL gross to total loans stood at 2.14% as of 31 March 2014, slightly increased from the end of 2013 which stood at 2.11%. Coverage ratio as of 31 March 2014 stood at 137.76% while the end of 2013 this stood at 134.52%. In addition, as of 31 March 2014, KASIKORNBANK FINANCIAL CONGLOMERATE’s Capital Adequacy Ratio (CAR) according to the Basel III Accord was 15.60%, with a Tier-1 Capital ratio of 12.39%.