Srisawad Finance Public Company Limited (SET: BFIT) has announced its 2Q22 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q22 | 2Q21 |
| Net Profit (Loss) Million Baht |
84.13 | 224.89 |
| Earning Per Share (Baht) |
0.15 | 0.41 |
| % Change | -62.59 | |
| 6 Months | 2022 | 2021 |
| Net Profit (Loss) Million Baht |
177.37 | 532.63 |
| Earning Per Share (Baht) |
0.32 | 0.97 |
| % Change | -66.70 | |
BFIT reported a net profit of THB84.13 million for the second quarter of the year 2022, a decrease of THB140.76 million or 62.59% compared with net profit of THB224.89 million obtained during the same period of the year 2021.
A decrease in net interest income by THB211.44 million due to a decrease in interest income by THB228.06 million and a decrease in interest expense by THB16.62 million. This was a result of 1) A decrease in interest income from loans to customers by THB224.00 million due to the decrease in loans to customers.
2) A decrease in interest income from investment in debt securities by THB0.55 million due to no investment having been purchased during the year 2020 onwards.
3) A decrease in interest income from interbank and money market items (Repo) by THB3.51 million due to the decrease in private repo transaction volume compared to the year 2021.
4) A decrease in interest expense by THB16.62 million due to a decrease in interest expenses from deposits by THB14.02 million due to the decrease in deposit amount from THB2,171.83 million as of the second quarter of the year 2021 to THB62.09 million as of the second quarter of the year 2022 or decreased by 97.14%.
5) A decrease in contributions to the Financial Institution Development Fund and Deposit Protection Agency by THB1.56 million which is in line with the proportion of deposits.
6) A decrease in interest expense on lease liabilities by THB1.04 million, according to the accounting standard TFRS16.
