Krung Thai Bank Public Company Limited (SET: KTB) announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 1Q23 | 1Q22 |
| Net Profit (Loss) Million Baht |
10,066.60 | 8,780.34 |
| Earning Per Share (Baht) |
0.7200 | 0.6300 |
| % Change | 14.65 | |
KTB reported a net profit of Baht 10,066 million, an increase of 14.6% YoY mainly due to an increase in pre-provision profit of 24.0% YoY in alignment with KTB’s strategy to “Accelerating Sustainable Value Creation”. This is mainly from a consistent and solid uplift in total operating income of 18.8% YoY from quality loan growth focus in addition to the continual increase in net fee and service income and other non-interest income. With KTB’s effective comprehensive operating cost management despite an increase in operating expenses as a result of IT cost relating to the ongoing products and service enhancement to customers, cost to income ratio registered at 38.70%, decreased from 41.25% in the same period of last year. This is partly a seasonality impact attributing to higher cost to income ratio in other quarters than the first quarter.
KTB and its subsidiaries has prudently set aside an increase of 48.1%of the expected credit loss with vigilant consideration given the economic uncertainties and a soften increase but yet high inflation, whilst maintaining high coverage ratio at 183.2% compared to 179.7% as at December 31, 2022 amid the NPLs Ratio-Gross reduction to 3.22%, from end of 2022 with our prudent asset quality management.
As at March 31, 2023, the Bank’s Tier 1 capital ratio stood at 16.55% of its RWA and Total capital ratio at 19.75% of its RWA, maintaining at a strong level as compared to BOT’s requirement.
Additionally, KTB maintains our ample level of liquidity position by means of Liquidity Coverage ratio (LCR) at a consistent level of not less than 180%, higher than the BOT’s requirement.
KTB has prudently set aside an increase of 48.1% of the expected credit loss with vigilant consideration given the economic uncertainties, whilst maintaining high coverage ratio at 183.2% compared to 179.7% as at December 31, 2022 amid the NPLs Ratio-Gross reduction to 3.22%, from end of 2022 with our prudent asset quality management.
