KBANK Records THB10.5 Billion of Net Profit in 3Q22 as ECL Remains High

Kasikornbank Public Company Limited (SET: KBANK) has announced its consolidated financial statement of 3Q22 through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
10,573.99 8,630.61
Earning Per Share
4.2900 3.4900
% Change 22.52
9 Months 2022 2021
Net Profit (Loss)
Million Baht
32,578.69 28,151.55
Earning Per Share (Baht) 13.4300 11.5900
% Change 15.73

KBANK reported a net profit of Baht 10,573 million in 3Q22, increased 22.52% from a net profit of Baht 8,630 million in 3Q21, but dropped slightly from the previous quarter by 2.04%. All segments performed well in the quarter when compared to the same quarter last year due to a recovery of the tourism sector and domestic spending.

However, when compared to the previous quarter, the bank slightly underperformed as non-interest income decreased by Baht 852 million or 8.97% mainly due to net premiums earned – net decreased, while the mark to market of financial assets increased according to market condition. Meanwhile, net interest income increased by Baht 1,076 million or 3.36% mainly due to interest income from loans to customers.

Other operating expenses slightly increased by Baht 181 million or 1.00% mainly due to increase in marketing expenses in line with increase in revenue according to business volume and employee expenses, resulting in the cost to income ratio that stood at 43.73% in this quarter. Moreover, KBANK set aside expected credit loss that was approximate to the preceding quarter.

Expected credit loss remained at a higher level in the third quarter at Baht 9,978 million, a slight increase by less than 1% from Baht 9,852 million in 2Q22. Still, the figure in the third quarter was lower than those in the same period last year of Baht 11,296 million.

NPL gross to total loans stood at 3.07% and coverage ratio stood at 148.74% that was a suitable level and reflects ability to manage asset quality.


According to the Refinitiv consensus, the bank was expected to report Baht 11,039 million for its earnings in 3Q22.