Krung Thai Bank Public Company Limited (KTB) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
KTB reported a net profit of 5,578 million baht in 1Q21, decreased 13.73% compared to a net profit of 6,466 million baht in 1Q20. Compared to 1Q20, KTB’s consolidated pre-provision profit declined 8.6% YoY, from a decrease in net interest income due to series of interest rate cuts during 2020.
KTB’s consolidated net interest income in 1Q21, amounted 19,969 million baht, decreased by 13.0% YoY mainly due to series of interest rate cuts during 2020. Consequently, NIM registered at 2.50%, decreased from 3.14% in 1Q20.
Non-interest income expanded from both net fee and service income due to the expansion of management fee and acceptance, and guarantees fee and higher total other operating income. Other operating expenses decreased by 5.8% YoY. Cost to income ratio was 44.25%, slightly increased from 43.49% in 1Q2020.
KTB had set aside the expected credit losses of 8,058 million baht, decreased 5.5%.
KTB’s Tier 1 capital was 312,059 million baht (15.88% of its RWA). Total capital was 377,966 million baht (19.23%of its RWA). KTB issued Additional Tier I Subordinated Notes in the amount of USD 600 million to overseas institutional investors in order to strengthen its Tier I capital and enhance its future investment prospect and growth opportunity.
KTB’s NPLs-Gross as at March 31, 2021amounted 105,981 million baht, lowering NPLs Ratio-Gross to 3.66% from 3.81% as at December 31, 2020. Given thorough considerations on various factors in the continuously changing business environment in this economic situation of high uncertainties that could impact loan quality, the bank’s consolidated coverage ratio as at March 31, 2021 increased to 153.9% from147.3% as at December 31, 2020.