KTB Records a 57% Gain in Its 1Q22 Earnings on Increased Income and Lower ECL

Krung Thai Bank Public Company Limited (SET: KTB) has announced its 1Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
8,780.34 5,578.44
Earning Per Share
0.63 0.40
% Change 57.4

In 1Q2022, KTB reported net profit of THB8,780 million, an increase of 57.4% YoY, as the result of an improvement in total operating income from both net interest income of 5.6% from substantial loan growth focusing on quality loans during economic uncertainties. Hence, loan growth was driven by government, corporates and retail loans. Additionally, total operating income was supported by the continual managed cost of fund, an increase of other operating income, together with the effective control of total operating expenses with a-3.5% YoY decline. Therefore, cost to income ratio stood at 41.25%, decreased from 44.25% in 1Q2021.

Furthermore, KTB has set aside an expected credit losses at a high level of THB5,470 million, though decreased by 32.1% YoY. NPLs Ratio was at a steady controllable level of 3.34%, reduced from 3.50% as at December 31, 2021 and 3.66% as at March 31, 2021. The coverage ratio was maintained at the above normal level at 173.6%, compared to 168.8% as at December 31, 2021 and 153.9% as at March 31, 2021.

KTB’s consolidated net interest income in 1Q2022 amounted THB21,086 million, increased by 5.6% YoY as a result from the substantial loan growth focusing on quality loan as well as effective cost of fund management. NIM stood at 2.44%. Meanwhile, net fee and service income was THB4,968 million, a decrease by 4.8% YoY despite an expansion on Bancassurance fee.