Kasikornbank Public Company Limited (SET: KBANK) has announced its 2024 consolidated financial statement through the Stock Exchange of Thailand as follows:
| 2024 | 2023 | |
| Net Profit (Loss) Million Baht |
48,598.13 | 42,405.04 |
| Earning Per Share (Baht) |
20.2000 | 17.5800 |
| % Change | 14.60 | |
KBANK reported a net profit of Baht 8,598 million, an increase of Baht 6,193 million or 14.60% from the previous year.
Net interest income was Baht 149,376 million, a slight increase of Baht 932 million or 0.63% from the previous year partly due to limited loan growth in line with the economic situation and the enhancement of credit underwriting processes to ensure quality lending. Net interest margin ratio stood at 3.64%, a slight decrease from the previous year.
Non-interest income was Baht 48,570 million, an increase of Baht 4,361 million or 9.86% mainly due to increased fee income from customer’s wealth management service through the offering of comprehensive financial products from the Bank and its subsidiaries, as well as partners.
Additionally, there was an increase in gains from financial instruments measured at fair value through profit or loss and investment income, along with increased revenue from foreign exchange transactions which were in line with the recovery of tourism.
Other operating expenses were Baht 87,273 million, an increase of Baht 2,305 million or 2.71% from the previous year. This increase was at a lower rate compared with the growth rate in 2023, due to the focus on effective cost management and continuous productivity improvements. The increase in other operating expenses were mainly from employee expenses, marketing expenses in line with the expansion of business volume and IT-related expenses to support the expansion of customer service channels.
Loans were Baht 2,390,187 million, an increase of Baht 18,695 million or 0.79% in line with the slow economic recovery and the enhancement of credit underwriting processes to ensure quality lending, in accordance with the Bank’s policy of prudently and effectively managing assets quality. Notably, corporate loans continue to demonstrate growth. Dep
NPL gross to total loans was 3.18%. The Bank continues to closely monitor and manage loan quality with prudence to provide appropriate support to customers and improves the process to enhance debt collection efficiency.
Allowance for expected credit loss was Baht 47,251 million at the end of December 2024, a decrease by 8.85% from last year.
