Bank of Ayudhya Public Company Limited (SET: BAY) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss) Million Baht |
8,208.93 | 8,425.30 |
| Earning Per Share (Baht) |
1.1200 | 1.1500 |
| % Change | -2.57 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
15,751.54 | 17,101.59 |
| Earning Per Share (Baht) | 2.1400 | 2.3200 |
| % Change | -7.89 | |
BAY reported a net profit of Baht 8,209 million, decreased by 2.6%, or Baht 216 million, largely stemming from an increase in expected credit loss. Meanwhile, operating profits increased by 21.2%, substantially boosted by ASEAN’s consumer businesses contributions.
Net interest income in 2Q24 amounted to Baht 28,299 million, increased by Baht 5,000 million, or 21.5%. The increase was driven by an increase in interest income of Baht 8,500 million, or 26.2%, mainly contributed by the acquired ASEAN businesses concluded in 2023. Meanwhile, interest expenses increased by Baht 3,500 million, or 38.0%, primarily due to interest on deposits of Baht 3,063 million, or 60.8%, corresponding to both higher outstanding balances and deposit rates.
The non-performing loan (NPL) ratio was at 3.05%, compared with 2.53% at the end of December 2023. Owing to Krungsri’s continued prudential reserves, the credit cost for recorded at 243 basis points (bps). The loan loss coverage ratio stood at 128.8%, compared with 149.1% at the end of December 2023.
Capital adequacy ratio (Bank only) recorded at 17.87%, compared with 18.24% at the end of December 2023.
The expected credit loss in 2Q24 amounted to Baht 11,817 million, equivalent to a credit cost of 237 bps, a decrease of 3.7% from the prior quarter. On a year-on-year basis, the expected credit loss increased by Baht 4,006 million, or 51.3%.
