KTB Reports 22% Increase in Net Profit as Loan Growth Drives Interest Income Higher

Krung Thai Bank Public Company Limited (SET: KTB) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
10,282.17 8,449.82
Earning Per Share
0.7400 0.6000
% Change 21.69
9 Months 2023 2022
Net Profit (Loss)
Million Baht
30,504.96 25,588.55
Earning Per Share (Baht) 2.18 1.83
% Change 19.21

KTB reported a net profit of Baht 10,282 million in the third quarter, increased 21.69% from a net profit of Baht 8,449 million in 3Q22. 

In 3Q2023, consolidated net interest income amounted of Baht 29,667 million, increased 29.6% YoY, mainly from loan growth in its strategically focused segments both retail and corporate loans in addition to a government loan growth as portfolio expansion in accordance with justified risk adjusted return segment during economic uncertainties coupled with the special interest income from corporate client. As a result, NIM increased to 3.38% from 2.61% in 3Q2022. 

KTB set aside an increase of 44.0% of the expected credit loss given the economic uncertainties to maintain a high level of coverage ratio at 180.4% amid NPLs Ratio reduction to 3.10%, from end of 2022 with our prudent asset quality management.