Kasikornbank Public Company Limited (SET: KBANK) reported a net profit of 14,667 million baht for the first quarter of 2026, marking a 6.35% increase compared to the same period in 2025. This performance was significantly bolstered by a one-time compensation income from investment amounting to 1,455 million baht. Excluding this extraordinary gain, the bank’s net profit would have seen a 2.99% decline to 13,378 million baht.
The bank’s total operating income rose slightly by 0.85% to 49,521 million baht, as robust non-interest performance helped mitigate pressure on core lending revenue. A primary challenge was net interest income (NII), which dropped by 9.79% year-on-year to 31,957 million baht. This contraction was driven by continued sluggish loan growth and the impact of interest rate reductions implemented during 2025 to support customer liquidity. Consequently, the net interest margin (NIM) compressed to 2.95%, down from 3.41% in the first quarter of 2025.
In contrast, non-interest income surged by 28.42% to 17,564 million baht. Beyond the one-time compensation, growth was fueled by wealth management services, including higher net fees from fund management and brokerage services. The bank also benefited from realized gains on investments under favorable early-quarter market conditions.
Efficiency remained a key focus, with other operating expenses falling by 3.85% to 19,279 million baht, thanks to strategic human resource management and continued productivity improvements. Regarding asset quality, the NPL gross ratio remained steady at 3.19%. KBANK maintained a prudent approach by setting aside 9,823 million baht in expected credit loss (ECL), which was broadly in line with previous-year levels. Notably, the coverage ratio strengthened to 171.72%, providing a robust buffer against increasing global economic volatility and geopolitical risks.
