Kasikornbank Public Company Limited (SET: KBANK) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
11,965.43 | 11,281.86 |
| Earning Per Share (Baht) |
4.9100 | 4.6000 |
| % Change | 6.06 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
38,104.07 | 33,017.19 |
| Earning Per Share (Baht) | 15.7800 | 13.6200 |
| % Change | 15.41 | |
KBANK reported a net profit of Baht 11,965 million in 3Q24, increased 6.06% from a net profit of Baht 11,281 million in the third quarter of last year due to an increase by 28% of non-interest income to Baht 11,643 million. However, net profit declined 5.43% compared with the preceding quarter, mainly due to a decrease in non – interest income, mostly from the insurance business.
Net interest income slightly decreased compared with the preceding quarter, due to uneven overall economic recovery along with revamping the credit process to increase efficiency in granting quality new loans. Net interest margin ratio stood at 3.61%, decreased from the preceding quarter, as a result of net earning assets from transactions related to the management of a particular fund, which had a short-term impact on the Bank. However, excluding these transactions, net interest margin ratio remained at a level similar to the preceding quarter.
Expected credit loss (ECL) for the period was relatively at the same level when compared to the last quarter and the same period of last year. For the third quarter of 2024, ECL was at Baht 129 billion.
Additionally, non-performing loan for the quarter was at 3.20%, which was slightly increased compared to the previous quarter.
