BBL’s 2Q Profit Edges Higher to ฿9.3bn as Net Income Increases by 31%!

Bangkok Bank Public Company Limited (BBL) has announced the 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

For the second quarter of 2019, BBL reported a net profit of THB 9,347 million, an increase of 1.7% from the second quarter of 2018. Non-interest income rose by THB 3,206 million or 31.0%, due mainly to increases in gains on investments and dividend income, while net interest income fell by THB 664 million or 3.6%. Operating expenses rose by THB 1,907 million or 15.6%. Impairment loss on loans and debt securities rose by THB 471 million.

In the first half of 2019, net profit was recorded at THB 18,375 million, an increase of THB 176 million or 1% from the first half of 2018. Net interest income rose by THB 1,239 million or 3.6% predominantly on improved yield on earning assets.

Non-interest income fell by THB 4,220 million or 15.0%, mainly driven by lower gains on investments and net fees and service income. The decrease in net fees and service income was due to lower fees from securities business, in line with the capital market situation as well as a decline in transaction services resulting from the exemption of transaction fees via digital channels. Impairment loss on loans and debt securities fell by THB 3,227 million.

 

Impairment loss of loans and debt securities in the second quarter of 2019 was THB 5,549 million, compared to THB 5,078 million in the first quarter of 2019 and THB 6,533 million in the second quarter of 2018. In the first half of 2019, impairment loss of loans and debt securities amounted to THB 10,627 million, compared to THB 13,854 million in the first half of the previous year.

Non-performing loan (NPL) at the end of June 2019 amounted to THB 82,148 million, an increase of THB 2,011 million or 2.5% from the end of December 2018. The ratio of NPL to total loans stood at 3.5%.

Total allowance for doubtful accounts at the end of June 2019 was THB 152,623 million or 259.5% of the minimum amount of THB 58,805 million required by the Bank of Thailand. The ratio of loan loss reserves to NPL at the end of June 2019 was 185.8%.