KBANK Reports 7% Growth in 3Q23 as Higher Provisions Offset Gains from Interest Income

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

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
11,281.86 10,573.99
Earning Per Share
4.6000 4.2900
% Change 6.69
9 Months 2023 2022
Net Profit (Loss)
Million Baht
33,017.19 32,578.69
Earning Per Share (Baht) 13.6200 13.4300
% Change 1.35

KBANK reported a net profit of Baht 11,281 million in 3Q23, increased 6.69% from a net profit of Baht 10,573 million in 3Q22. The increase was mainly due to its net interest income that rose 15% from last year to Baht 38,019 million, but was offset by higher expected credit loss that rose to Baht 12,793 million or by 28.5%.

NPL gross to total loans was 3.11% and coverage ratio increased to 154.90%. In addition, as of 30 September 2023, KASIKORNBANK FINANCIAL CONGLOMERATE’s Capital Adequacy Ratio (CAR) according to the Basel III Accord remained strong at 19.62%, with a Tier 1 Capital ratio of 17.65%.