Kiatnakin Phatra Bank Public Company Limited (SET: KKP) has announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
6,318.05 | 5,123.27 |
| Earning Per Share (Baht) | 7.46 | 6.05 |
| % Change | 23.32 | |
KKP reported a net profit of 6,318 million baht in 2021, increased 23.32% from a net profit of 5,123 million baht in 2020. For 4Q21, net profit increased by 82.6% YoY to 2,023 million baht.
The increase was mainly driven by the considerable growth in non-interest income of 30.4% with net fees and services income significantly contributed to the increase driven by income from Private Wealth Management business, brokerage business, investment banking business and asset management business. Meanwhile, net interest income also increased by 7.0% from continued loan expansions during the year. Provisions for 2021 increased when compared to last year consistent with the bank’s prudent measures and also to accommodate loan expansion.
The bank’s loan portfolio saw a satisfactory increase of 16.5% during 2021 with continued focus on quality growth amid uncertainties. The Non-Performing Loans (NPLs) to total loans ratio for 2021 remained stable at 3.0%3 compared to 2.9% at the end of 2020 with total allowance for expected credit losses to total NPLs ratio (coverage ratio) remaining at a high level of 175.1%.
For 2021, expected credit losses totaled 5,201 million baht, increasing 27.0% from to 4,095 million baht during 2020 with increase partly to accommodate the growth in loan portfolio.
