Bangkok Commercial Asset Management Public Company Limited (SET: BAM) has announced its 2022 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2022 | 2021 |
| Net Profit (Loss) Million Baht |
2,724.76 | 2,600.22 |
| Earning Per Share (Baht) |
0.8400 | 0.8000 |
| % Change | 4.79 | |
BAM reported a net profit of Baht 16,591 million and a net profit for 2022 of Baht 2,725 million, an increase of 4.8% from the previous year because of NPLs’ revenue expansion and tax benefit management. In 2022, operating income from NPLs amounted to 9,709 million baht, an increase of 2.8% from the previous year due to the expansion of the number of debt-restructuring debtors, especially retail and medium-sized debtors, and to auction sales activities through the Legal Execution Department that had returned to normal. Operating income from NPAs totaled 2,895 million baht, a decrease of 23.2% from the previous year, as a result of the special price strategy to accelerate the sale of NPAs in 2021.
However, the Company reported interest expenses of Baht 2,637 million, an increase of 3.1% as a result of the issuance and offering of debentures and higher financing costs in line with market conditions and reported operating expenses of Baht 2,888 million, an increase of 5.9% from the previous year due to an increase in business activities of NPLs and NPAs. The Company has maintained a proper proportion of expenses to income, with the expenses representing the percentage of 43.2 (Year 2021: 39.7%).
Overall, the non-performing assets industry and trading had been affected by the relief measures for debtors affected by the COVID-19 outbreak and the relaxation of loan classification criteria that slowed down the deterioration in the loan quality of financial institutions. As a result, the amount of non-performing loans (Gross NPLs) of financial institutions did not considerably change from that of the previous year (as of the third quarter of 2022, the figure was Baht 500 billion or 2.76% of total loans).
In 2022, financial institutions put secured NPLs up for sale at the principal amount totaling Baht 58,735 million, an increase of 38.2% from the previous year.
In addition, the Board of Directors approved a dividend payout of THB0.55 per share to be paid on 23 May 2023. The ex-dividend date is on 2 May 2023.
