Bangkok--22 Oct--Bank of Ayudhya
Bank of Ayudhya Public Company Limited announced continued improvement in its operating performance for the third quarter of the year. The KRUNGSRI Group (The Bank and its subsidiaries) result highlights, are as follows:
Operating Profit: Baht 6.50 billion, a 19.9% and a 4.7% increase compared to 3Q/09 and 2Q/10, respectivelyNet Profit: Baht 2.34 billion, a 1.2% increase over 3Q/09 and a 9.5% increase over 2Q/10YTD Net Profit: Baht 6.55 billion, a 29% increase over the same period last yearNon-Interest Income: Increased 29% over the prior yearPerforming Loan Growth: Increased Baht 15.3 billion year-to-date Deposit Growth: Increased Baht 10.5 billion year-to-dateAsset Quality: Increased coverage from 74% to 85% year-to-dateDelinquencies: Overdue balances > 30 days dropped 15% year-to-dateNon-Performing Loans: Decreased from Baht 52.1 Billion to Baht 44.7 billion with successful sale of Baht 5.2 billion in September
Mr. Mark Arnold, President & CEO of Bank of Ayudhya, said, “We are extremely pleased with our third-quarter and year-to-date performance. We’ve continued to build the fundamentals of the business having successfully integrated 4 acquisitions in the last two years, bolstered our capital base to 17.9%, significantly reduced our NPLs to Baht 44.7 billion and through prudent and conservative management achieved record low delinquencies in all of our portfolios.”
“In summary, we’ve built a very strong foundation and we’re confident that in the last quarter of this year through 2011 the KRUNGSRI Group will accelerate its strong growth momentum.” Mr. Arnold added.
As of 30 September 2010, the Bank recorded Baht 803 billion in total assets, Baht 611 billion in loans and Baht 531 billion in deposits. The Bank has a strong capital base with a BIS ratio of 17.9% and tier 1 capital of 12.2%.