Bangkok Bank Public Company Limited (SET: BBL) has announced its 2024 consolidated financial statement through the Stock Exchange of Thailand as follows:
| 2024 | 2023 | |
| Net Profit (Loss) Million Baht |
45,211.15 | 41,635.52 |
| Earning Per Share (Baht) |
23.6900 | 21.8100 |
| % Change | 8.59 | |
BBL reported a net profit of Baht 45,211 million, an increase of 8.6 percent from last year.
In 2024, net interest income amounted to Baht 133,900 million, an increase of 2.3 percent from higher loan volume and yields on earning assets. This growth was offset by an increase in the cost of deposits, resulting in the net interest margin of 3.06 percent for 2024.
Meanwhile, non-interest income was at Baht 41,911 million, an increase of 14.4 percent from the previous year. This was due to investment income, coupled with the continued growth in net fees and service income from credit card business as well as bancassurance and mutual fund services.
In 2024, the bank’s operating expenses were Baht 84,405 million, an increase of 3.2 percent from the previous year mainly due to operational efficiency improvements and marketing expenses. BBL stated that the bank continued to focus on cost management, resulting in a cost to income ratio for 2024 decreased to 48.0 percent.
As of December 31, 2024, loans amounted to Baht 2,693,301 million, increasing 2.1 percent from the end of the previous quarter and 0.8 percent from the end of last year from loans to large corporate customers and loans made through the Bank’s international network.
Non-performing loans (Gross NPL) totaled Baht 85,833 million. The Gross NPL to total loans ratio stood at a manageable level of 2.7 percent. The allowance for expected credit losses was Baht 286,966 million. As a result, the allowance for expected credit losses to NPL ratio was at a strong level of 334.3 percent.
Expected credit loss for 2024 was Baht 34,838 million, a slight increase by 3.5% when compared to the previous year.
