CIMBT Reports Nearly 50% Decline in 3Q23 Earnings from High Operating Expense and Provisions 

CIMB Thai Bank PCL (SET: CIMBT) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
367.42 695.97
Earning Per Share
0.0100 0.0200
% Change -47.21
9 Months 2023 2022
Net Profit (Loss)
Million Baht
1,736.30 2,811.48
Earning Per Share (Baht) 0.0500 0.0800
% Change -38.24


The financial result of CIMBT showed its net profit went down by 47.21% YoY to THB 367.42 million, due to the 18.6% YoY decreasing by THB 213.1 million of operating income from net fee and service income, which offsetting Net Interest Income (NII) 3.9% YoY growth by THB 274.7 million from loan expansions and NII on investment.

As for the cost items, there’s an increasing operating expenses by THB 544.4 million or 9.7% and Expected Credit Loss (ECL) by 26%. CIMBT’s gross non-performing loans (NPL) reported at THB 8.5 billion or 3.2%, which is lower from 3.3% at the end of 2022. The coverage ratio is also reported at 111.3%, down from 114.6% at the end of 2022.