CIMB Thai Bank Public Company Limited (SET: CIMBT) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss)
Million Baht |
595.67 | 367.42 |
| Earning Per Share
(Baht) |
0.0200 | 0.0100 |
| % Change | 62.12 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
1,890.24 | 1,736.30 |
| Earning Per Share (Baht) | 0.0500 | 0.0500 |
| % Change | 8.87 | |
CIMBT reported a net profit in 3Q24 of THB 595.67 million, an increase of 62% compared to the same period last year. The growth was driven by a boost in interest income to THB 4,731.32 million and fee and service income to THB 525.40 million during the quarter.
The gross NPL stood at THB 6.4 billion, with a lower equivalent gross NPL ratio of 2.5% compared to 3.3% as of 31 December 2023. The lower NPL ratio was mainly attributed to the sale of some NPLs in 2024, improved efficiency on risk management policies, and improved asset quality management and loan collection processes.
CIMBT’s loan loss coverage ratio as of 30 September 2024 stood at 138.8%, compared to 124.2% at the end of December 2023. Total allowance for expected credit losses stood at THB 8.6 billion, THB 1.5 billion over the Bank of Thailand’s reserve requirements.
