Bank of Ayudhya Public Company Limited (BAY) has reported its consolidated financial statement through the Stock Exchange of Thailand as follows:
Despite multifaceted challenges confronting the banking sector, ranging from volatility stemming from trade protectionist policies, global monetary policy tightening cycle, digital disruption and digital fee waivers, to new consumer finance regulations, BAY recorded net profit of ฿24,813 million for 2018, increased by 6.9% or ฿1,604 million YoY, largely attributed to robust operating profits.
In 2018, the operating profit was ฿57,838 million, representing an increase of ฿5,568 million or 10.7% from 2017, driven by higher net interest income, supported by robust loan portfolio expansion particularly in high yield segments, together with a solid performance in non-interest income.
As of December 31, 2018, gross NPLs stood at ฿38,446 million, an increase of ฿824 million, or 2.2%, from ฿37,622 million at the end of 2017. When compared to Septenber 2018, gross NPLs decreased by ฿481 million, or 1.2%. BAY conducted the NPL sales of 1,464 million in 4Q18. The ratio of gross NPLs as of December 2018 stood at 2.08%, compared to 2.05% in 2017.