BBL’s 2021 Earnings Soar 54% on Higher Non-NII and Permata’s Contribution

Bangkok Bank Public Company Limited (SET: BBL) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand;

Yearly 2021 2020
Net Profit (Loss)
Million Baht
26,507.04 17,180.58
Earning Per Share (Baht) 13.89 9.00
% Change 54.28

BBL reported a net profit of 26,507 million baht in 2021, increased 54.28% from a net profit of 17,180 million baht in 2020.

Net interest income rose by 6.6% from last year due to the full-year consolidation of Permata’s net interest income and lower interest expenses resulting from cost management. The net interest margin stood at 2.10%. Non-interest income rose by 25.7% mainly due to an increase in net fees and service income from securities business, loan-related services, bancassurance and mutual funds, along with an increase on gains on mark to market of financial assets in line with the market environment.

The bank set aside Baht 8,127 million in expected credit losses in the fourth quarter of 2021 and Baht 34,134 million in 2021 in line with its prudent approach as it continues to assess and closely monitor the impact from the Covid- 19 pandemic including the Omicron variant and potential risks arising from new variants.

The non-performing loan to total loans ratio decreased to 3.2%, while the ratio of the allowance for expected credit losses to non-performing loans remained strong at 225.8%.