CIMB Thai Bank Public Company Limited (CIMBT) has reported its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;
CIMBT recorded a net profit of 613 million baht in 2Q21, increased 100.45% compared to a net profit of 306 million baht in 2Q20. The increase in net profit was mainly due to gains on financial instruments measured at fair value through profit or loss at 393 million baht in the quarter, compared to a 80 million baht in 2Q20.
In the meantime, the bank also had lower other operating expenses at 2,052 million baht, compared to expenses of 2,252 million baht in 2Q20.
The gross non-performing loans (NPL) stood at 10.6 billion baht, translating to an impaired loan ratio of 4.8% compared to 4.6% as at December 31, 2020. The higher NPL ratio was mainly due to the decrease in total loan outstanding balance, while the non-performing loans have not significantly changed.
CIMBT ‘s loan coverage ratio stood at 101.4% as at June 30, 2021, from 93.3% at the end of December 2020. Meanwhile, total allowance for expected credit losses stood at 9.9 billion baht, which was 1.8 billion baht over the Bank of Thailand’s reserve requirements.