KKP’s 3Q Profit Drops 5.5% Due to an Uncertainty Economic Slowdown Affects by Covid-19
KKP’s 3Q Profit Drops 5.5% Due to an Uncertainty Economic Slowdown Affects by Covid-19 
KKP’s 3Q Profit Drops 5.5% Due to an Uncertainty Economic Slowdown Affects by Covid-19
20 ต.ค. 2563

Kiatnakin Phatra Bank Public Company Limited (KKP) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

The consolidated net profit of KKP and subsidiaries for 3Q20 totaled Baht 1,221 million, a decline of 5.50% YoY mainly from the increased in provisions as a result of the continued uncertainties from the economic slowdown as impacted by COVID-19. 
 
For the first nine months of 2020, net profit of KKP and subsidiaries totaled Baht 4,015 million, a decline of 6.8% YoY while comprehensive income for the first nine months totaled Baht 3,886 million, declining by 8.8%. YoY.
 
As of the end of September 2020, liabilities amounted to Baht 312,563 million, increasing 16.8% YoY. Deposits were Baht 242,032 million, increasing by 40.6%. Deposits comprised 46.4% of term deposits and 53.6% of current and saving accounts (CASA). Meanwhile, debts and borrowings were Baht 28,887 million, declining by 47.9% from the end of 2019. Loan to deposits and borrowings ratio stood at 95.1%, compared to 104.6% at the end of 2019.
 
The Non-Performing Loans (NPLs) or Stage 3 loans excluding POCI as of the end of 3Q20 totaled Baht 7,518 million or 2.9% of total loans, decreasing from 4.0% at the end of 2019 from the decline in NPLs from both retail loans segment and commercial lending segment from continuous asset quality management. 
 
Additionally, a portion of the loans are currently still under the relief programs and are subject to staging suspensions during the relief period according to the BOT guidelines. This suspension may impose limitation on the complete classifications of the loan portfolio quality during the relief period. The majority of the relief period for retail loans will end during 4Q20 while for Commercial Lending segment will end from 4Q20 onwards and continue into 2021.