BAY’s Sale of “Ngern Tid Lor” Skyrockets 2019 Net Profit to Book at ฿32.7bn!

Bank of Ayudhya Public Company Limited (BAY) has reported its consolidated financial statement of 2019 through the Stock Exchange of Thailand as follows;

BAY reports a net profit in 2019 at THB 32,749 million, increased 32% when compared to the same period of last year due to higher non-interest income from the recognition of gains on investments from the sale of 50% of shares in Ngern Tid Lor Company Limited (NTL) in 1Q19, and higher net interest income, supported by a reburst loan growth.

BAY’s NPL decreased to 1.98% from 2.01% in September 2019 and 2.08% in December 2018.