BBL Reports 2.8% Increase in 1Q22 Earnings to THB7,118 Million on Higher Operating Income

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

Quarter 1Q22 1Q21
Net Profit (Loss)
Million Baht
7,118.06 6,923.10
Earning Per Share
3.7300 3.6300
% Change 2.82

BBL reported a net profit of 7,118 million baht in 1Q22, increased 2.82% from a net profit of 6,923 million baht in 1Q21. The increase was mainly due to higher operating income. 

Net interest income rose by 10.4 percent contributed from loan growth, while the net interest margin stood at 2.11 percent. Non-interest income declined by 16.1 percent primarily from lower gains on mark to market of financial assets in line with the market environment, and lower net fees and service income from credit card and bancassurance and mutual funds. Operating expenses decreased by 1.6 percent, resulting in a cost to income ratio of 49.8 percent. BBL set aside an expected credit loss of 6,489 million baht, increased by 2.6% from the same period of last year.

The non-performing loan to total loans ratio was 3.3 percent. BBL’s prudent management approach achieved a healthy increase in the allowance for expected credit losses to non-performing loans ratio to 229.0 percent.