CIMBT’s 3Q Profit Drops 77% after Booking an ECL of ฿1.2Bn
CIMBT’s 3Q Profit Drops 77% after Booking an ECL of ฿1.2Bn
CIMBT’s 3Q Profit Drops 77% after Booking an ECL of ฿1.2Bn
22 ต.ค. 2563

CIMB Thailand Bank Public Company Limited (CIMBT) has reported its 3Q20 consolidated financial statement ended September 30, 2020, through the Stock Exchange of Thailand as follows;

CIMBT recorded a net profit of 81 million baht in 3Q20, decreased 77% YoY, mainly resulting from a decrease in net interest income and net fees and service income compared to a year ago, along with the book of expected credit losses (ECL) of 1,251 million baht. The net profit for the nine months ended September 30, 2020 was 1,467.5 million baht, an increase of 46.3% YoY. The improvement was mainly attributed to a 7.6% growth in operating income and better cost control brought about a 0.4% decline in operating expense, partially offset by a 20.2% increase in provisions.
 
Operating income rose by 7.6% to 11,504.1 million baht driven by an increase of 1,529 million baht or 227.3% in other operating income mainly due to an increase in gains on financial instruments measured at fair value through profit or loss of 1,023.8 million baht. 
 
NIM over earning assets stood at 3.3% in 9M2020, compared to 3.5% a year ago, resulting from lower interest income on loans and investments.
 
Meanwhile NPL stood at 13.9 billion baht, translating to an impaired loan ratio of 5.9% compared to 4.7% as at December 31, 2019, due to the change in the NPL classification criteria.  