กรุงเทพฯ--23 ก.ค.--KASIKORNBANK
Mr. Predee Daochai, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the first half of 2013 of Baht 21,085 Million, a rise of 14.87% over the same period of 2012. For the second quarter of 2013, the net profit totaled Baht 10,979 Million, a rise of 8.64% over the previous quarter.
Operating performance for the first half of 2013 compared with the first half of 2012, KBank and its subsidiaries reported net profit of Baht 21,085 Million, increased Baht 2,730 Million or 14.87% compared with same period of 2012, due mostly to an increase in net interest income by Baht 4,753 Million or 15.64% resulting in a rising NIM stood at 3.46%, consistent with the gradual reduction in the policy rate and increasing in average earning assets at the end of the period. Meanwhile, non-interest income rose Baht 3,874 Million or 19.12% due to continuously growth in net fees and service income, as well as net premiums earned. The efficiency ratio stood at 41.38% which improved from the same period of 2012. In this quarter, the Bank set the allowance for impairment on application software and related expense amounting to Baht 1,566 Million, as a result of changes to some parts of the deposit core banking system development under the K-Transformation Strategic Project. Such changes will fasten data processing in the future, mitigate risk concerning competent staff constraints to maintain the system stability, and reduce maintenance costs in the long term. Besides, the Bank has made the reversal of estimate for loss sharing amounting to Baht 1,111 Million from asset management by Thai Asset Management Corporation (“TAMC”).
Operating performance for the second quarter of 2013 compared with the first quarter of 2013, KBank and its subsidiaries reported net profit of Baht 10,979 Million, increased of Baht 873 Million or 8.64% from the previous quarter, due mostly to an increase in net interest income of Baht 726 Million or 4.22% and an increase in non-interest income of Baht 1,140 Million or 9.92%, due to growth in net fees and service income, as well as net premiums earned. Net interest margin (NIM) stood at 3.52%, increased from the first quarter of 2013. However, the efficiency ratio of this quarter performed at 42.65%.
As of 30 June 2013, KBank and its subsidiaries’ total assets were Baht 2,225,152 Million, rising Baht 115,185 Million or 5.46% over the previous quarter and rising Baht 147,710 Million or 7.11% over the end of 2012, the major increase was due to the investments and loans. NPL Gross to total loans stood at 2.13% as of 30 June 2013, while the previous quarter and year stood at 2.09 and 2.16%, respectively. In this period, KBank has set aside higher allowance for impairment loss on loans, the partiality 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 133.93% as of 30 June 2013 while the previous quarter and year stood at 138.62% and 131.83%, respectively. In addition, as of 30 June 2013, KASIKORNBANK FINANCIAL CONGLOMERATE’s Capital Adequacy Ratio (CAR) with Basel III was 16.20%, being 11.97% Tier-1 Capital ratio.