Bangkok--21 Jan--Bank of Ayudhya
Bank of Ayudhya Public Company Limited announced strengthened operating performance for the year 2010. Key highlights of the Krungsri Group (The Bank and its subsidiaries) results, on a consolidated basis, are:
- Operating Profit: Baht 5.9 billion for 4Q, growing 19% from 4Q 2009 and 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 and Baht 8.8 billion for 2010, growing 32% for the full year
- Performing Loan Growth: Increased Baht 61 billion year-to-date, an 11% increase
- Deposit Growth: Increased Baht 56 billion year-to-date, an 11% increase
- Non-Performing Loans: Decreased from Baht 52.1 Billion to Baht 38.2 billion, a 27% decrease
- Asset Quality: Increased coverage from 74% to 89% year-to-date
Mr. Mark Arnold, President & CEO of Bank of Ayudhya, said, “We are extremely pleased with our fourth quarter and 2010 performance. 2010 was the year in which we integrated our recent acquisitions and proved that we could successfully 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 the strongest in our history at 11%. Asset quality improved significantly with NPLs reduced by 27% driven principally by the sale of 12.8 billion in the second half of the year while coverage increased to 89%. All of our businesses have come together as One Krungsri to drive our performance and despite the political turmoil at the start of the year we’ve continued to deliver.”
“In summary, we’ve made significant progress this year in bolstering the fundamentals of the group: investing in our infrastructure, network, brand and people while at the same time leveraging the knowledge and resources of our recent acquisitions. The Krungsri brand and One Krungsri concept have helped accelerate our growth in 2010 and we’re confident that our momentum is strong going into 2011.” Mr. Arnold added.
As of 31 December 2010, Thailand’s fifth largest bank recorded Baht 650 billion in loans and Baht 576 billion in deposits. The Bank has a strong capital base with a BIS ratio of 15.84% and tier 1 capital of 11.54 %.
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Bank of Ayudhya PCL.
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Fax: 02 683 1271
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