Lower Provision in 3Q Leads KTC to Book THB1.3 Billion of Net Profit
KTC reported its profit for the third quarter at 1,317 million baht, increased by 7.85% YoY due to lower provision in the quarter.
KTC reported its profit for the third quarter at 1,317 million baht, increased by 7.85% YoY due to lower provision in the quarter
16 ต.ค. 2564

Krungthai Card Public Company Limited (KTC) has announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

KTC reported its net profit for the third quarter at 1,317 million baht, increased by 7.85% compared to the same period of last year. The increase was mainly due to its lower provision on expected credit loss (ECL) that decreased 24% from the same period of last year.
The total loan to customers and accrued interest receivables totaled 87,030 million baht, increased by 3.2% YoY, in which the increase was from the portfolio of KTB Leasing Co., Ltd. (KTBL) consolidation.
For the third quarter of 2021, credit card spending decreased by 11.8% YoY or amounted to 43,545 million baht. Meanwhile, total member base amounted to 3,306,580 million accounts, comprising 2,522,945 credit card accounts, a 2.3%  decrease YoY and 783,635 personal loan accounts, a 12.5% decrease YoY.
As a result of continuous control in portfolio quality, the expected credit losses were reduced by 24.1% YoY and finance costs decreased by 10.5% YoY, while total operating expenses increased slightly by 3.0% YoY.
NPL Ratio of the third quarter was at 3.8%, a reduction from 4.4% in the second quarter of 2021 due to the written-off of the hire purchase portfolio from KTBL. The NPL of hire purchase receivables was at 46.1%, reduced from 51.7% in the second quarter, while the NPL of credit cards in the third quarter remained at the same level of 1.5%. For personal loans, there was a slight increase from 3.0% in the second quarter to 3.2% in the third quarter.
KTC has credit card receivables market share to the industry for the first eight months of 2021 at 13.5% and of personal loan receivables market share to industry was at 4.3%.