Bangkok Bank Public Company Limited (SET: BBL) announced its 1Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 1Q23 | 1Q22 |
| Net Profit (Loss) Million Baht |
10,129.29 | 7,118.06 |
| Earning Per Share (Baht) |
5.3100 | 3.7300 |
| % Change | 42.30 | |
BBL reported a net profit in the first quarter of 2023 of Baht 10,129 million, increased 42.30% from the same period of last year. An increase was mainly due to an increase in net interest income due to higher loan volume and the rising interest rate, offset by higher interest cost from the rise in deposit rates and the FIDF fee. Operating expenses increased, partly from higher expenses for working stream development and improvement. The Bank set aside additional expected credit losses in accordance with its prudent approach.
Net interest income in the first quarter of 2023 amounted to Baht 30,077 million. Compared with the same quarter last year, net interest income increased 38.3% YoY, mainly due to an increase in interest income from higher loan volume and rising interest rate offset by higher interest expenses from deposits and the FIDF fee.
Operating expenses for the first quarter of 2023 amounted to Baht 18,850 million, declining from the previous quarter. Compared with the first quarter of 2022, operating expenses increased, partly from higher expenses for working stream development and improvement. The cost to income ratio stood at 46.8 percent.
In the first quarter of 2023, the Bank set aside Baht 8,474 million in expected credit losses. The Bank continued to set aside expected credit losses in line with its prudent approach, although the Thai economy tended to continuously expand, underpinned by the recovery in the tourism sector and private consumption.
Non-performing loans (Gross NPL) at the end of March 2023 was Baht 98,359 million, while the gross NPL to total loans ratio stood at 3.1 percent.
