KTC’s 3Q Earnings Increase 34% to THB1.7 Billion, Following Revival of Economic Activities

Krungthai Card Public Company Limited (SET: KTC) has announced its consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
1,772.52 1,316.94
Earning Per Share
0.6900 0.5100
% Change 34.59
9 Months 2022 2021
Net Profit (Loss)
Million Baht
5,413.54 4,630.71
Earning Per Share (Baht) 2.1000 1.8000
% Change 16.91

KTC reported a net profit of Baht 1,772 million in 3Q22, increased 34.59% from a net profit of Baht 1,316 million in 3Q21.

Total receivables portfolio increased by 11.5% (YoY) due to the recovery of Thai economy that has been benefited from the gradual opening of cities in many countries around the world. Meanwhile, total loan to customers and accrued interest receivables for 3Q22 equaled to Baht 97,016 million, increased by 4.7% from the end of 2021 which equaled to Baht 92,636 million.

Total industry and KTC’s credit card spending volume for the first 8M grew at 24.1% and 22.3% (YoY) respectively due to the country opening, while KTC’s credit card spending volume for 3Q22 and 9M22 grew at 36.1% and 22.7% respectively.

The company total revenue for 3Q22 equaled to Baht 5,887 million, increased by 14.7% (YoY) mainly from an increase of interest income and fee income by 8.5% (YoY) and 30.6% (YoY) respectively. Total bad debt recovery for 3Q22 equaled to Baht 857 million, increased by 17.0% (YoY).

Total expense for 3Q22 equaled to Baht 3,676 million, increased by 5.5% (YoY) due to administrative expense increased by 11.3% (YoY), while expected credit loss decreased by 1.2% (YoY) and cost of funds dropped by 0.5% (YoY).