KKP Reports Better-Than-Expected 2Q Earnings at THB2,033 Million as ECL Slows Down

Kiatnakin Phatra Bank Public Company Limited (SET: KKP) has announced its 2Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 2Q22 2Q22
Net Profit (Loss)
Million Baht
2,033.28 1,354.27
Earning Per Share
2.4000 1.6000
% Change 50.14
6 Months 2022 2021
Net Profit (Loss)
Million Baht
4,088.63 2,816.94
Earning Per Share (Baht) 4.8300 3.3300
% Change 45.14

KKP reported a net profit of 2,033 million baht in 2Q22, increased 50.14% from a net profit of 1,354 million baht in 2Q21. The increase in earnings was 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 expense declined as a result of manageable asset quality.

Net interest income for 2Q22 rose by 18.0% YoY from continued loan expansions in high quality assets with YTD loan growth as of the end of 2Q22 at 9.7%. Meanwhile, non-interest income declined as a result of uncertainties in the capital market with Kiatnakin Phatra Securities’s market share1 continued to rank at the number one position with market share of 18.18%.

KKP recorded total expected credit losses for 2Q22 at Baht 812 million, lowered when compared to the amount for 2Q21, reflecting manageable asset quality with total allowance for expected credit losses to total NPLs ratio (coverage ratio) remaining at a high level of 169.1%. The Non-Performing Loans (NPLs) to total loans ratio for 2Q22 was at 3.0%, remaining at stable level from the end of 2021.

Basic earnings per share of KKP in the first half of 2022 increased 45% to THB4.83 per share, compared to THB3.33 per share in 1H21.


KKP’s earnings in 2Q22 beat Refinitiv consensus by 11.76% for a forecast of 1,819 million baht of net profit for the quarter.