KTB Records 60% Increase in 2Q21 Earnings as Expected Credit Loss Drops 45%

KTB had a net profit of 6,011 million baht in 2Q21, increased 60%, due to a significant drop in expected credit loss.

Krung Thai Bank Public Company Limited (KTB) has announced its 2Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

KTB reported a net profit of 6,011 million baht in 2Q21, increased 60.06% compared to a net profit of 3,755 million baht in 2Q20.

KTB’s pre-provision profit declined 17.3% YoY, due to a decrease in total operating income from the lowered net interest income as the interest income from loan in relation to partial payment from the auction of mortgaged guarantee assets of 2Q20 together with series of interest rate cuts during 2020, though partly offset by the better cost of fund management and loan surge. Other operating expenses were strictly managed in the slowing economy.

KTB had set aside the lower expected credit losses of 45.0% YoY while considering the high level of coverage ratio given the staggering economy of high uncertainties.

Consequently, coverage ratio as at June 30, 2021stood at160.7%, increased from 147.3%, as at December 31, 2020.The NPLs Ratio-Gross decreased to 3.54% from 3.81% as at December 31, 2020.

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