Bangkok--21 Apr--Bangkok Bank Highlights for the quarter: * Net profit increased by 37.5 percent from previous quarter to Baht 5.6 billion * Loan growth 3.9 percent year-to-date * Net interest margin increases to 3.33 percent * Cost to income ratio falls to 48.0 percent Bangkok Bank reported preliminary results for the first quarter of 2008, with a net profit of Baht 5.6 billion, up by Baht 1.5 billion or 37.5 percent, compared with the previous quarter. Operating results this quarter improved on many fronts with better net interest income as a result of loan growth and lower cost of deposits, higher fee income and currency gains, as well as controlled operating costs. When compared with the end of December 2007, the bank's total loans rose by 3.9 percent or Baht 40.5 billion to Baht 1,075.8 billion at the end of March 2008. This reflected increased domestic and regional economic activity. Deposits also increased by Baht 19.7 billion to Baht 1,286.7 billion at the end of March. The bank's liquidity position remains satisfactory with the loan-to-deposit ratio at 83.6 percent. Non-performing loans at the end of the quarter amounted to Baht 85.6 billion, equivalent to 7.8 percent of total loans. The net interest income in the first quarter increased by Baht 605 million to Baht 12.7 billion on the back of increased dividend income, and more favorable funding costs. As a result, the net interest margin in the first quarter rose to 3.33 percent. Fees and service income showed a healthy growth from previous quarter of 11.2 percent to Baht 4.6 billion, and foreign currency gains increased by 9.1 percent to Baht 1.3 billion. Although the bank showed a net loss on investments of Baht 179 million this quarter, this was still an improvement from the previous quarter which had a loss of Baht 998 million. The bank had gains on some equity transactions this quarter, but there were additional impairment expenses on some investments from debt restructuring. And given the continued volatility in the international financial markets, the bank fully provided forthe remaining investment of Baht 565 million in the CDO. The bank continued to focus on managing costs with non-interest expenses declining this quarter by Baht 600 million or 6.2 percent from the previous quarter, to Baht 9.0 billion. Provisioning expenses in the first quarter amounted to Baht 1.5 billion, an increase of Baht 140 million compared with the previous quarter reflecting the growth in the loan portfolio. Corporate income tax also increased by Baht 742 million or almost 39.2 percent to Baht 2.6 billion. Including the net profit for the quarter and adjusted for the dividend payment to be made in May 2008, the total capital adequacy ratio and the Tier 1 capital ratio for the bank would be approximately 15.5 percent and 12.5 percent respectively at the end of March, 2008. Shareholders' equity rose from Baht 164.4 billion at the end of 2007 to Baht 169.1 billion as at March 31, 2008. Earnings per share this quarter increased from Baht 2.13 per share in the 4th quarter of 2007 to Baht 2.94 per share.