Bangkok Bank Public Company Limited (SET: BBL) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss) Million Baht |
11,806.83 | 11,293.52 |
| Earning Per Share (Baht) |
6.1900 | 5.9200 |
| % Change | 4.55 | |
BBL reported a net profit of Baht 11,807 million in the second quarter of 2024, an increase by 4.5% over the same period last year, mainly driven by an increase in net interest income from rising yields on earning assets and growth in business loans. Meanwhile, the cost of deposits rose in line with deposit interest rates.
Net interest income in the second quarter of 2024 amounted to Baht 33,134 million, an increase of 5.2% from the same quarter in 2023. This was offset by an increase in the cost of deposits from the rise in interest rates. The net interest margin stood at 3.05% for the first half of 2024.
Non-interest income for the second quarter of 2024 was Baht 10,404 million. Compared with the second quarter of 2023, non-interest income declined by 5.0%.
BBL set aside expected credit losses of Baht 19,007 million in the first half of this year, an increase by 9.5%.
Non- performing loan (Gross NPL) at the end of June 2024 was Baht 99,140 million. The gross NPL to total loans ratio stood at 3.2%, being a manageable level. The allowance for expected credit losses was Baht 280,095 million, and as a result the allowance for expected credit losses to NPL ratio was at a strong level at 282.5%.
