KTB Announces a Decline of 16% in 1Q20 Net Profit from Lower NII and Continual Rate Cuts
KTB Announces a Decline of 16% in 1Q20 Net Profit from Lower NII and Continual Rate Cuts.
KTB Announces a Decline of 16% in 1Q20 Net Profit from Lower NII and Continual Rate Cuts.
22 เม.ย. 2563

Krung Thai Bank Public Company Limited (KTB) has announced its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

KTB reported a net profit for the 1Q20 operation at 6,081 million baht, decreased 16.7% YoY, mainly from lower net interest income, continual interest rate cuts and interest income from loan in relation to partial payment from the auction of mortgaged guarantee assets of Baht 3,899 million in 1Q2019, despite lower cost of funds from improving fund management.
Consolidated operating expenses decreased by 16.9% YoY from impairment loss of properties for sale in 1Q2019 (if excluding such item, operating expenses increased by 8.6% YoY), contributing to consolidated cost to income ratio of 44.18%, decreasing from 48.24% in the same period of 2019 (cost to income ratio excluding interest income received from the auction and impairment loss of properties for sale of 41.78%).
The NPLs Ratio-Gross stood at 4.36%, an increase from 4.33% as at 31 December 2019, in which such NPL increase was an impact from weaker economy and per TFRS 9.