Bangkok--18 Jul--KASIKORNBANK
Mr. Somkiat Sirichatchai, Senior Executive Vice President of KASIKORNBANK, said KBank and its subsidiaries reported net profit for the first half of 2012 of Baht 18,355 Million. Operating profit before income tax expense totaled Baht 25,235 Million, a rise of Baht 4,768 Million or 23.30% over the same period of 2011. For the second quarter of 2012, the Bank’s consolidated net profit totaled Baht 9,367 Million, a rise of Baht 379 Million or 4.22% over the previous quarter.
Operating performance for the first half of 2012 compared with the first half of 2011, KBank and its subsidiaries reported operating profit before income tax expense Baht 25,235 Million, increasing Baht 4,768 Million or 23.30% compared with same period of 2011, due mostly to an increase in net interest income by Baht 3,494 Million or 13.00% resulting in a rising NIM stood at 3.63%. Meanwhile, non-interest income rose Baht 2,884 Million or 16.60% due to growth in net fees and service income, as well as net premiums earned. The efficiency ratio stood at 42.82% which improved from the same period of 2011. Moreover, KBank and its subsidiaries benefited from a reduction in the corporate income tax rate from 30% to 23% in 2012. As mentioned above, net profit attributable to equity holders of the bank for the first half of 2012 amounted to Baht 18,355 Million, an increase of Baht 4,923 Million or 36.65%.
Operating performance for the second quarter of 2012 compared with the first quarter of 2012, the net profit of KBank and its subsidiaries for the second quarter of 2012 totaled Baht 9,367 Million, rising Baht 379 Million or 4.22% over the previous quarter. The major increase was due to the net interest income and non-interest income. Compared with the first quarter of 2012, the net interest income increased Baht 547 Million or 3.67%. Net interest margin (NIM) stood at 3.53%, close to the previous quarter. Non-interest income increased Baht 560 Million or 5.68% as a result of continuously increases in net fees and service income, plus dividend income from non-recurring and non-monetary item from stock dividend. The efficiency ratio performed at 44.16% which increased from the previous quarter reported at 41.42%, in light of the increase in promotion, advertising and marketing expense.
As of 30 June 2012, KASIKORNBANKGROUP’s total assets were Baht 1,887,036 Million, rising Baht 29,887 Million or 1.61% from the previous quarter and Baht 164,096 Million, or 9.52% over the year end of 2011, due mostly to increases in investments and loans. NPL Gross stood at 2.20%, improving over the previous quarter and last year end of 2011. The Bank has already provided allowance for doubtful accounts to serve for any impact incurred. The Capital Adequacy Ratio (CAR) was 15.56% — being 9.76% Tier-1 Capital ratio. Incorporating net profit for the first half of 2012 and other related items, our CAR was at 16.86% with Tier-1 Capital ratio at 11.06%.