A Decrease in Net Premiums Earned and Fees Waived Sinks KBANK’s 2Q19 Profit to ฿9.9bn
KBANK’s 2Q19 profit plunged to THB 9.9 billion due to a decrease in net premiums earned and revenue from capital market products.
KBANK’s 2Q19 profit plunged to THB 9.9 billion due to a decrease in net premiums earned and revenue from capital market products.
19 ก.ค. 2562

KasikornBank Public Company Limited (KBANK) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

In the second quarter of 2019, KBANK and its subsidiaries reported net profit amounting to THB 9,929 million, a decrease from the preceding quarter of THB 115 million or 1.15%, and a decrease of THB 1,709 million or 7.88% from the same period of 2018.
Operating performance for the first half of 2019 compared with the first half of 2018, KBank and its subsidiaries reported net profit of THB 19,973 million, a decrease of THB 1,709 million or 7.88% over the same period of 2018. Net interest income increased by THB 2,960 million or 6.16% mainly due to interest income from loans to customers and investments.
NIM stood at 3.30%, while non-interest income decreased by THB 5,475 million or 17.46% mainly due to a decrease in net premiums earned – net and revenue from capital market products, including fees waived for money transfers through digital channel.
Moreover, under the economic slowdown that affected in KBANK’s earnings, KBANK made an effort to control operating expenses, resulted in an increase in operating expenses by THB 1,087 million or 3.33% despite retirement reserve increase from the change in defined benefit plan according to employment policy of KBANK which is not relating to labor law. Cost to income ratio stood at 43.89%.
NPL gross to total loans as of 30 June 2019 stood at 3.40% while at the end of 2018 this stood at 3.34%. Coverage ratio as of 30 June 2019 stood at 157.95%, while at the eดnd of 2018 this stood at 160.60%.