CIMB Thai Bank Public Company Limited (SET: CIMBT) has announced its consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
2,440.56 | 1,290.58 |
| Earning Per Share (Baht) | 0.07 | 0.04 |
| % Change | 89.10 | |
CIMBT reported a net profit of 2,440 million baht in 2021, increased 89.10% from a net profit of 1,290 million baht in 2020. The increase was mainly due to better cost controls resulting in an 8.1% decline in operating expenses and a 25.7% decrease in expected credit losses, despite a 3.9% drop in operating income.
The gross NPL stood at 7.9 billion baht with a lower equivalent gross NPL ratio of 3.7% compared to 4.6% as at 31 December 2020. The lower NPL ratio was mainly due to the sale of some NPLs in 2021, more efficient risk management policies and improved asset quality management and loan collection processes.
CIMBT’s loan loss coverage ratio as at 31 December 2021 stood at 117.5% from 93.3% at the end of December 2020.
