Kiatnakin Phatra Bank Public Company Limited (SET: KKP) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
|Net Profit (Loss)
|Earning Per Share
KKP reported a net profit of THB2,055 million in 1Q22, an increase of 40.5% compared to 1Q21 while comprehensive income totaled THB1,954 million also increasing by 27.6% YoY. The increase was largely driven by strong performance from the Commercial Banking Business with increase in both interest income and fee income generated from the credit business while provisioning expenses declined in line with well-managed portfolio quality.
Net interest income rose by 12.4% YoY from continued loan expansions in high quality assets with 1Q22 loan growth of 6.6%, while non-interest income also registered an increase of 19.8% driven by increase in bancassurance fee, higher income from brokerage business with Kiatnakin Phatra Securities’ market share increasing to 18.74%, maintained at the number one position.
Overall operating expenses continued to be well-controlled resulting in the cost to income ratio for 1Q22 to decline to 38.4%, with recording total expected credit losses amounting to THB1,066 million.