Bangkok--19 Apr--KASIKORNBANK
Mr. Predee Daochai, President of KASIKORNBANK, said KBank and its subsidiaries reported the first quarter of 2013 net profit of Baht 10,106 Million, a rise of 31.38% from the previous quarter and 12.44% over the previous year.
Operating performance for the first quarter of 2013 compared with the fourth quarter of 2012, KBank and its subsidiaries reported net profit of Baht 10,106 Million, an increase of Baht 2,414 Million or 31.38% from the previous quarter, due mostly to an increase in non-interest income of Baht 1,346 Million or 13.25% due to growth in net fees and service income, as well as net premiums earned. Net interest margin (NIM) stood at 3.49%, close to the previous quarter 3.53%. A decrease in operating expenses from the previous quarter resulting in efficiency ratio performed at 40.02% in this quarter.
Operating performance for the first quarter of 2013 compared with the first quarter of 2012, KBank and its subsidiaries reported net profit of Baht 10,106 Million, an increase of Baht 1,118 Million or 12.44%, due mostly to an increase in net interest income of Baht 2,287 Million or 15.33% and an increase in non-interest income of Baht 1,647 Million or 16.72%, due to growth in net fees and service income, as well as net premiums earned. Net interest margin (NIM) decreased from the same period of 2012. However, the efficiency ratio improved from the same period of 2012.
As of 31 March 2013, KBank and its subsidiaries’ total assets were Baht 2,109,967 Million, rising Baht 32,525 Million or 1.57% from the previous year, due mostly to increases in interbank and money market items-net and loans. NPL Gross to total loans stood at 2.09% as of 31 March 2013, while the previous year stood at 2.16%. In this quarter, KBank has set aside higher allowance for impairment loss on loans, amid the economic expansion and the satisfactory performance of the Bank, to be served as a countercyclical provision to prepare the Bank for any potential future economic downturn and the changing economic circumstances, both domestic and abroad. Resulting to the coverage ratio stood at 138.62% as of 31 March 2013, as of 31 December 2012 the coverage ratio stood at 131.83%. Commencing in 2013, KBank has reported capital ratio in accordance with Basel III Capital Requirement. As of 31 March 2013, KASIKORNBANK FINANCIAL CONGLOMERATE’s Capital Adequacy Ratio (CAR) was 15.79%, with a Tier-1 Capital ratio of 11.47%.