BBL Shows Better Performance in 3Q22 to Record THB7.6 Billion over Interest Income

Bangkok Bank Public Company Limited (SET: BBL) announced its 3Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q22 3Q21
Net Profit (Loss)
Million Baht
7,656.99 6,909.20
Earning Per Share
4.0100 3.6200
% Change 10.82
9 Months 2022 2021
Net Profit (Loss)
Million Baht
21,736.13 20,189.07
Earning Per Share (Baht) 11.3900 10.5800
% Change 7.66

BBL recorded Baht 7,656 million of net profit in 3Q22, increased 10.82% from a net profit of Baht 6,909 million in 3Q21, mostly from higher net interest income. Non-interest income decreased from lower gains on financial instruments measured at FVTPL. Operating expenses increased from rising expenses to develop and improve working systems.

The bank also recorded a 10% increase in net profit when compared to the previous quarter. This was due to an increase in net interest income mainly from higher loan volume and a rise in the yield on earning assets resulting from the bank’s liquidity management as well as a decrease in operating expenses due to seasonality. Meanwhile, the bank set aside higher expected credit losses by taking into account the economic recovery and the anticipated volatility of the global economy going forward.

Net interest income in the third quarter of 2022 amounted to Baht 26,496 million, increasing by 12.6 percent from the previous quarter and 28.0 percent from the same quarter last year.

Non-interest income for the third quarter of 2022 amounted to Baht 10,211 million, a decrease of 4.3 percent from the previous quarter due to lower gains on financial instruments measured at FVTPL, following the market situation. Net fees and service income increased mainly from higher loan related fees.

BBL set aside Baht 9,889 million in expected credit losses in the third quarter of 2022 in line with its prudent approach by taking into account global economic volatility which may affect the recovery of the Thai economy.