CIMB Thai Bank Public Company Limited (CIMBT) has reported its 2019 first quarter financial statement through the Stock Exchange of Thailand as follows:
The bank recorded a net profit of THB 325.0 million in 1Q19, increased THB 156.1 million or 92.4% YoY. The increase was due to a 3.4% growth in operating income and a 17.4% drop in provisions, offset by an 8.2% increase in operating expenses.
In the first quarter of 2019, the gross NPL stood at THB 10.0 billion, with a stable gross NPL ratio of 4.3%, unchanged from December 31, 2018. CIMBT has continued to exercise high credit risk underwriting standards and risk management policies. The bank also focuses on improving productivity and monitoring collection.