CIMB Thai Bank Public Company Limited (SET: CIMBT) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 1Q22 | 1Q21 |
| Net Profit (Loss) Million Baht |
1,061.04 | 341.32 |
| Earning Per Share (Baht) |
0.0300 | 0.0100 |
| % Change | 210.86 | |
CIMBT reported a net profit of 1,061 million baht, increased 210% from a net profit of 341 million baht in 1Q21. The increase was mainly due to better cost control with 14% decline in operating expenses and a 64% decrease in expected credit losses, despite a marginal drop of 0.8% in operating income.
Net interest margin (NIM) over earning assets stood at 2.8% in 1Q22, compared to 3.1% in 1Q21, resulting from lower interest income on loans and hire purchase business.
The gross non-performing loans (NPL) stood at 8.4 billion baht, with a higher gross NPL ratio of 3.8% from 3.7% as at 31 December 2021 due to the sale of NPLs in 2021.
CIMBT’s loan loss coverage ratio as at 31 March 2022 stood at 112% from 117.5% at the end of December 2021. Total allowance for expected credit losses stood at 8.6 billion baht, 1.5 billion baht over the Bank of Thailand’s reserve requirement.
