Bank of Ayudhya Public Company Limited (SET: BAY) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss)
Million Baht |
7,672.20 | 8,095.96 |
| Earning Per Share
(Baht) |
1.0400 | 1.1000 |
| % Change | -5.23 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
23,423.74 | 25,197.55 |
| Earning Per Share (Baht) | 3.1800 | 3.4300 |
| % Change | -7.04 | |
BAY reported a net profit of Baht 7,672 million and Baht 23,424 million in 3Q24 and 9M24, respectively, representing a decrease of 5.2% and 7.0% compared to the same period last year.
During the three months period, net interest income increased by Baht 1,322 million, or 5.1%. The increase was driven by an increase in interest income of Baht 2,321 million, or 6.4%, mainly attributed to the ASEAN business contribution. Meanwhile, interest expenses increased by Baht 999 million, or 9.4%, primarily due to interest on deposits of Baht 2,242 million, or 41.4%, corresponding to both higher outstanding balances and deposit rates, offset by a decrease in interest on interbank and money market items of Baht 1,395 million, or 64.6%.
As of September 30, 2024, total loans outstanding was Baht 1,926,936 million, representing a decrease of Baht 90,268 million, or 4.5%, from the end of December 2023. In detail, retail loans decreased by 7.0%, corporate loans decreased by 2.9%, and SME loans decreased by 0.5%.
Total deposits stood at Baht 1,899,610 million, increasing by Baht 60,009 million, or 3.3%, from the end of December 2023, mainly from an increase in time deposits.
The non-performing loan (NPL) ratio was at 3.20%, compared with 2.53% at the end of December 2023. Owing to Krungsri’s continued prudential reserves, the credit cost was recorded at 245 basis points (bps). The loan loss coverage ratio stood at 124.6%, compared with 149.1% at the end of December 2023.
The expected credit loss in 3Q24 amounted to Baht 11,171 million, an increase of Baht 2,119 million, or 23.4%.
Underscoring Krungsri’s rigorous and prudential risk management approach amid the future uncertainty for asset quality in domestic and overseas businesses, the expected credit loss for 9M24 was recorded at Baht 35,258 million, equivalent to a credit cost of 245 bps, compared with the 149-bps level for 9M23.
