Krung Thai Bank Public Company Limited (SET: KTB) has announced its 2024 consolidated financial statement through the Stock Exchange of Thailand as follows:
| 2024 | 2023 | |
| Net Profit (Loss) Million Baht |
43,855.66 | 36,615.91 |
| Earning Per Share (Baht) |
3.1400 | 2.6200 |
| % Change | 19.77 | |
KTB reported a net profit of Baht 43,856 million in 2024, an increase of 19.77% from 2023.
In 2024, consolidated net interest income amounted to Baht 119,115 million, increased by 5.0% YoY, driven by portfolio optimization with focus on quality. Loan growth continued, driven predominantly by the Bank’s strategic emphasis on the retail segment as well as the expansion of government loans with a well-balanced risk-return portfolio optimization amid economic uncertainties in addition to the interest rates trend. NIM registered at 3.29%, compared to 3.22% in Y2023.
Loans to customers increased by 4.7% YoY, primarily driven by the expansion in the retail segment, aligned with the Bank’s strategic focus, as well as growth in the government segment.
Total operating income rose by 6.4% YoY, largely driven by fee income from Wealth Management and Credit Card businesses, as financial products offered by the bank and its subsidiaries, along with risk management and investment products, and trading portfolio management.
Consolidated other operating expenses were Baht 68,778 million, an increase of 10.7% YoY, due to investments in IT and digital capabilities aimed at developing new products and services for future industry growth and technological advancements.
NPL was at a well-managed level of THB 95,065 million, a decrease of 4.4% from 2023. NPL ratio was 2.99%, down from 2023 level.
Expected credit losses for 2024 was at Baht 31,069 million, a 16.2% decrease YoY. The Bank’s coverage ratio stood at 188.6%, up from 181.3% as of year end 2023.
