KTC Reports a 3% Growth in 1Q20 as Interest Income and Customer Base Increase

KTC Reports a 3% Growth in 1Q20 as Interest Income and Customer Base Increase.


Krungthai Card Public Company Limited (KTC) has reported its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

KTC reported a net profit in the first quarter of 2020 at 1,641 million baht, increased 3.25% from a net profit of 1,589 million baht in the same period of last year.

Total revenue for the first quarter of 2020 grew at 2% as a result of the increase in interest income from both credit card receivables and personal loan receivables of 12% YoY and 9% YoY, respectively. In the meantime, fee income (excluding credit usage fee) contracted at 4% YoY owing to the decline fee income from merchant acquiring business.

Total loans to customers and total accrued interest receivables had increasingly expanded to a total value of 82,102 million baht, consisting of 52,137 million baht from total credit card receivables and 29,965 million baht from total personal loan receivables.

Net interest margin for the first quarter of 2020 was 15.64%, from average interest received at 18.52% and cost of fund was 2.88%. Interest income (including credit usage fee) for the first quarter under the TFRS9 standard amounted to 3,615 million baht.

KTC’s total NPL under the TFRS 9 standard stood at 4.01%(or 1.21% under the previous financial reporting standard).

KTC stated that at the end of March 2020, the company had total members of 3.5 million accounts, comprising 2,593,947 credit cards (up 10.4% YoY) and 926,729 personal loan accounts (down 6.0% YoY from non-active accounts closing).

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