Kiatnakin Phatra Bank Public Company Limited (SET: KKP) reported a consolidated net profit of THB 2,388 million in 3Q26, up 43% year-over-year from THB 1,670 million during the same period last year. Total operating income expanded 14.6% YoY to THB 7,710 million, driven by strong growth across diversified business lines and disciplined balance sheet execution.
Net interest income rose 6.5% YoY to THB 4,508 million. The gain was primarily driven by a 26.8% reduction in interest expenses to THB 1,620 million, as funding cost optimization and the declining interest rate environment pushed the cost of funds down to 1.6% from 2.3% in 3Q25. This optimization more than offset a slight 4.9% dip in interest income, lifting the bank’s loan spread to 4.7% from 4.4%.
Non-interest income surged 28.3% YoY to THB 3,202 million, propelled by a 46.5% jump in net fee and service income to THB 2,266 million. Revenue expansion was broad-based, supported by wealth management, digital investment services via the Dime! platform, asset management fees, and a rebound in investment banking transactions.
Total loans (excluding POCI) reached THB 355,692 million, up 3.7% year-to-date. Loan expansion was anchored by corporate lending, which climbed 26.8% YTD to THB 66,250 million, and commercial lending, which grew 7.9% YTD. This offset a 4.4% YTD contraction in retail loans, where auto hire purchase lending dropped 6.5% as KKP maintained a selective stance focused on high-quality borrowers.
Asset quality showed marked improvement. The non-performing loan ratio fell to 3.4% from 4.3% in 3Q25, while the coverage ratio expanded to 154.7%. Expected credit losses totaled THB 928 million, up 2.1% YoY. However, total credit cost improved to 1.43% from 1.68% in 3Q25, aided by a 40.7% decline in repossessed vehicle losses to THB 337 million. Total operating expenses eased 0.2% YoY to THB 3,734 million.
