BAM Reports 46% Drop in Net Profit from Lower Interest Income

Bangkok Commercial Asset Management PCL (SET: BAM) reported its Q3 financial result on 10 November in detail as follows.

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
382.82 715.83
Earning Per Share
0.1200 0.2200
% Change -46.52
9 Months 2023 2022
Net Profit (Loss)
Million Baht
1,074.55 1,858.30
Earning Per Share (Baht) 0.33 0.57
% Change -42.18


In Q3 of 2023, BAM reported its net profit at THB 382.82 million, a 46.52% YoY decrease. BAM’s Net Interest Income (NII) is recorded at THB 1,551 million, a 16.38% YoY decrease. BAM expected the credit loss at THB 1,084 million which increased by 3.48% YoY. 


This is due to,


1) a decrease in total operating income as sales of NPAs slowed down in line with the economic situation and the real estate sector which was affected by rising interest rates while interest income from NPLs remained stable compared to the previous quarter 


2) an increase of total operating expenses from interest expenses on debentures and loans and expenses for appraisal of collateral and properties for sale


Including other items such as gain on sale of properties for sale, installment sales and other operating income, BAM recorded its Total Operating Income at THB 2,328 million, a 10.7% drop. As for the expense, BAM totaled its other operating expenses at 777 million, a 12.29% YoY increase.