Bangkok: KBANK-TTB-SCB net profit in 2023 grew 15.9-26.5%, reflecting an increase in net interest income – KBANK views that the economy in 2024 still has risks to both the global and domestic economies.
Miss Khattiya Inthawichai, Chief Executive Officer Kasikorn Bank (KBANK) revealed that in 2023 the bank and its subsidiaries had a net profit of 42,405 million baht, an increase of 18.55% compared to the previous year, which was a low base. Including the economic situation that is gradually improving in some parts, however, the Bank still reserves a high amount for expected credit losses, similar to last year. To accommodate uncertainty from economic factors that may occur. The bank still adheres to the principle of caution when considering reserves. To continuously strengthen Meanwhile, net interest income increased according to market conditions. Although loan growth slowed slightly compared to the previous year,
Operating income increased by 19,396 million baht or 11.19%, with net interest income of 148,4
44 million baht, an increase of 11.61% in line with market conditions. Net interest income has not yet deducted debt management costs in various matters. and operating expenses and compared to the base of assets that generate income It has a rate of return (Net interest margin: NIM) of 3.66%.
‘The Thai economy in 2023 expanded in an uneven manner (K-Shaped Recovery). Tourism began to recover. Meanwhile, economic activities in other areas still face pressure from rising costs. Household debt and living expenses and the slowdown of the world economy Moreover, the world financial market during the year was quite volatile. It began to recover at the end of the year after the financial market assessed that the US policy interest rate It has reached its highest point. As for 2024, even though the Thai economy should grow better, But there are still challenges from the global economy that is at risk from slower growth. Especially the US economy affected by high interest rates and the Chinese economy and must also f
ollow domestic factors Including government measures to support the economy as well,’ Ms. Khattiya
Mr. Piti Tantakasem, Chief Executive Officer Thanachart Military Bank (TTB) revealed that operating results in the 4th quarter of 2023 had a net profit of 4,866 million baht, an increase of 26.5% from the same quarter last year, resulting in a net profit of 18,462 million baht in 2023, an increase of 30.1. % from the previous year. Overall, operating results were as targeted. Still focusing on maintaining asset quality and increasing financial strength in all aspects.
In 2023, the bank provided assistance to customers who still needed to receive assistance during the COVID-19 period. The loan value is approximately 11% of the total loan portfolio. And for the debt collection project, it is open to all groups of customers. The bank has helped more than 17,000 customers collect their debts, helping them save approximately 1.2 billion baht in interest.
This is because the Bank assesses that the economy in the ne
xt period still has pressure factors all around. Therefore, the reserve has been set up. Special in the 4th quarter in the amount of 4.9 billion baht to raise the reserve ratio. to non-performing loans or NPL Coverage Ratio to 155% compared to 138% in 2022 and 120% before the merger. It reflects the ability to support risks that have always been stronger.
Mr. Athit Nanthawithaya, Chief Executive Officer of SCB 2023 is at 10,995 million baht, an increase of 53.9% from the same quarter last year. This performance was due to an increase in net interest income. Investment income and strict cost control This is despite expected higher credit losses and weaker fee income.
The full year 2023 income from operations totaled 171,103 million baht, an increase of 10.8% from the previous year, while operating expenses amounted to 71,781 million baht, an increase of 2.7%, with an expense to income ratio remaining. at 42%, decreased from the previous year’s level of 45.2%, reflecting tight cost control. and continuously i
ncreasing efficiency in operations
The company has set up reserves of 43,600 million baht, an increase of 28.9% from the previous year, demonstrating careful credit quality management. To accommodate the risk of the Thai economic recovery being uneven. and geopolitical uncertainty Meanwhile, the ratio of expected credit losses to non-performing loans was 160%, the same as last year.
For the next strategy, the company will focus on business growth from increasing service efficiency. and manage costs appropriately. The company continues to develop technological capabilities. Strengthen financial stability To be an important engine of economic development Expand customer service thoroughly and continuously create shareholder value
In 2024, the company’s goals have been set. Loan growth will be at 3-5%, net interest margin at 3.7-3.9%, net fee income growth rate at low-mid single digit, cost-to-income ratio at 43-45% and Expected credit losses to loans at 1.6-1.8% .-511
Source: Thai News Agency