“Krung Thai” Profit Year ’63 to 16,732 million baht, a decrease of 42.9%.

“Krung Thai Bank” profit in the year ’63 amounted to 16,732 million baht, down 42.9% in 4Q20 only, shrinking 53.7% to 3,453 million baht, 4Q20 high reserve of 9,254 million baht, an increase of 91.8%. Bad debt for the whole year. At 3.81%, down from 4.33%

Mr. Phayong Srivanich, President Krung Thai Bank (KTB) revealed that in 2020 the bank has net profit.
At 16,732 million baht, down 42.9% from the same period last year, doing 29,284 million baht, only in the fourth quarter of 2020 with a net profit of 3,453 million baht, a decrease of 53.7% from the same period last year 7,459 million baht.

The result of net interest income for the whole year stood at 88,343 million baht, stable from the same period of the previous year 88,316 million baht, only in the fourth quarter of 20,320 million baht, a slight decrease of 1.9% despite the policy interest rate and loan interest rate. Continuously declining However, the bank earns extra interest. Good growth loans Which the bank expands its credit with caution And lower financial costs Help reduce the impact from the interest rate cut. In addition, operating expenses decreased by 14.4%, resulting in the Cost to Income ratio of 43.7%, a decrease from 49.7% in 2019.

The bank and its subsidiaries gradually set aside the high expected credit losses amounting to Baht 44,903 million, an 88.6% increase compared to bad debt expenses. Doubtful debt in 2019, with careful consideration of the constantly changing business environment Both economic slowdown and high uncertainty that may affect credit quality or NPLs Cliff

For the fourth quarter of 2020, the bank set aside the expected credit loss of 9,254 million baht, an increase of 91.8%.

At the end of the year 2020, the Bank had net loan and accrued interest receivables of 2,197,674 million baht, growing 12% from the end of 2019, with the Bank (Separate Financial Statements) having a Tier 1 capital ratio of 15.35% and the total capital to weighted assets ratio of Risk at 18.76%, which is strong compared to the Bank of Thailand (BOT) criteria.

In 2020, the Bank will face business and economic challenges that have not yet returned to normal due to the COVID-19 epidemic. The Bank cooperates with the government in implementing various measures. In addition, we have continually provided assistance to customers who have been affected in business operations so that their business can adapt quickly under the new normal conditions.

In addition, the bank has developed new types of digital financial products. Providing services for the development of Innovation & Digital Platform to enter the full range of Open Banking, Virtual Digital Banking Service, as well as New Business Model through Infinitas by Krungthai Company Limited (Infinitas by Krungthai) established in the month. Oct 20

However, the Bank has continued to introduce measures to help customers in the past. As a result, the Coverage Ratio at the end of the year increased to 147.3% from 131.8% at the end of 2019, together with the Bank’s asset quality management with NPLs Ratio-Gross of 3.81%, a decrease from 4.33%.

Source: ประชาชาติธุรกิจ by www.prachachat.net.

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