CIMB Thai Bank Public Company Limited (SET: CIMB) has announced its 2Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q23 | 2Q22 |
| Net Profit (Loss) Million Baht |
538.75 | 1,054.46 |
| Earning Per Share (Baht) |
0.02 | 0.03 |
| % Change | -48.91 | |
| 6 Months | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
1,368.8 | 2,115.51 |
| Earning Per Share (Baht) | 0.04 | 0.06 |
| % Change | -35.29 | |
For the six months ended 30 June 2023, CIMB consolidated operating income rose by THB51 million or 0.7% YoY to THB7,156.7 million from 6M2022 mainly contributed by a 4.6% growth in net interest income and a 1.3% growth in other income, partially offset by a 21.7% decline in net fee and service income.
Pre-provision operating profit decreased by 7.3% YoY to THB3,105.6 million as the 0.7% growth in operating income was offset by the 7.9% rise in operating expenses.
Net profit was THB746.6 million or 35.3% YoY lower at THB1,368.9 million from the higher operating expenses coupled with a 94.2% increase in expected credit loss (ECL). The higher ECL was in line with the bank’s prudent approach in view of the prevailing economic environment.
On a YoY basis, net interest income increased by THB214.4 million or 4.6% mainly driven by loan expansion. Total other operating income increased by THB20.5 million or 1.3%, mainly from higher gains on investment and gains on sale of non-performing loans. THere were partially offset by lower net fee and service income of THB183.9 million or 21.7%, largely attributed to lower fee income from insurance brokerage.
