LHFG Posts 2Q19 Profit at ฿761m, 5% Lower as a Result of Higher Expenses!

LH Financial Group Public Company Limited (LHFG) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

 

LHFG had net profits in the second quarter of 2019 amounted of THB 761.1 million, decreased by 5.6% when compared to the second quarter of 2018. The result from net interest income decreased by 8.5%.

Meanwhile, LHFG reported net profits for the six-month period of 2019 amounted of THB 1,567.8 million, decreased by 0.6% when compared to the six-month period of 2018 were THB 1,577.5 million. The result from net interest income decreased by 6.4%.

In the second quarter of 2019, other operating expenses amounted of THB 759.1 million, increased by 10.9% when compared to the second quarter of 2018, almost of the increase of employee expenses. The ratio of operating expenses to total operating income is at 36.0%, which is decreased when compared to the second quarter of 2018 was at 38.7%.

For the six-month period of 2019, they had other operating expenses amounted of THB 1,490.5 million, increased by 8.7% when compared to the six-month period of 2018, increasing mainly from the employee expenses.

As of 30 June 2019, the bank had non-performing loans (Gross) amounted of THB 3,384.1 million, decreased by THB 136.1 million or down to 3.9% when compared at the end of the year 2018. The ratio of NPLs to total loans at 1.85% of total loans (including interbank and money market items).

Non-performing loans (Net) amounted of THB 2,639.7 million, increased by THB 5.3 million or up to 0.2% when compared at the end of the year 2018. The ratio of NPLs (Net) at 1.45% of total loans after deducted allowance for doubtful debts of non-performing loans.