Bangkok--21 Jan--Bank of Ayudhya
Bank of Ayudhya Public Company Limitedannounced strengthened operating performance for the year 2010. Keyhighlights of the Krungsri Group (The Bank and its subsidiaries) results, on aconsolidated basis, are:
- Operating Profit: Baht 5.9 billion for 4Q, growing 19% from 4Q 2009and Baht 24.7 billion for 2010, growing 35% for the full year
- Net Profit: Baht 2.3 billion for 4Q, improving 43% from 4Q 2009 andBaht 8.8 billion for 2010, growing 32% for the full year
- Performing Loan Growth: Increased Baht 61 billion yeartodate,an11% increase
- Deposit Growth: Increased Baht 56 billion yeartodate,an 11% increase
- NonPerformingLoans: Decreased from Baht 52.1 Billion to Baht 38.2billion, a 27% decrease
- Asset Quality: Increased coverage from 74% to 89% yeartodate
Mr. Mark Arnold, President & CEO of Bank of Ayudhya, said, “We are extremelypleased with our fourth quarter and 2010 performance. 2010 was the year inwhich we integrated our recent acquisitions and proved that we couldsuccessfully leverage them for the benefit of the whole Krungsri Group. Our net
income grew by 32% to Baht 8.8 billion and our organic growth was one of thestrongest in our history at 11%. Asset quality improved significantly with NPLsreduced by 27% driven principally by the sale of 12.8 billion in the second half ofthe year while coverage increased to 89%. All of our businesses have cometogether as One Krungsri to drive our performance and despite the politicalturmoil at the start of the year we’ve continued to deliver.”
“In summary, we’ve made significant progress this year in bolstering thefundamentals of the group: investing in our infrastructure, network, brand andpeople while at the same time leveraging the knowledge and resources of ourrecent acquisitions. The Krungsri brand and One Krungsri concept have helpedaccelerate our growth in 2010 and we’re confident that our momentum is stronggoing into 2011.” Mr. Arnold added.
As of 31 December 2010, Thailand’s fifth largest bank recorded Baht 650 billionin loans and Baht 576 billion in deposits. The Bank has a strong capital base witha BIS ratio of 15.84% and tier 1 capital of 11.54 %.