“Krungthai” announced its operating results in 2021 with a net profit of 21,588 million baht, an increase of 29.0 percent from the same period of the previous year. Only the fourth quarter of 2021 had a net profit of 4,944 million baht, an increase of 43.2% from the same period last year. from strong loan growth Efficient asset quality management
On Jan. 21, Mr. Phayong Srivanich, President Krung Thai Bank reveals that in 2021, the economy faces challenges from the Covid-19 epidemic. Although domestic demand began to recover in the last quarter of the year due to the gradual easing of disease control measures. and opening the country to accept foreign tourists But the situation is still highly uncertain. Therefore, the bank attaches great importance to operating its business with caution. By closely managing asset quality and continually increasing the level of coverage ratio. to accommodate future uncertainty situations Ready to take care and help every group of customers closely cover retail customers and business customers both urgent measures specific measures and sustainable debt restructuring measures, including 7 measures to be able to support and return to growth in the future ready to be an important mechanism to support the continuous implementation of government policies to help heal all groups of people affected by COVID-19 Support measures to prevent the spread of COVID-19 through various projects. The bank is also an important mechanism in supporting government measures to revitalize the economy to drive further. The whole project, we won the 33rd grade, we love each other, half and half, we travel together. and the more you can use The bank continues to develop technology. and financial infrastructure To enhance the lives of all groups of customers better. Long-term Country rating is BBB+ and National Long-term credit rating is AAA(tha), which is a high level of creditworthiness. It is the only commercial bank that has received a credit rating upgrade in this round. It reflects the Bank’s strength and clear role as an important mechanism in supporting government policy implementation in helping people heal and revitalize the economy during the challenges faced by the COVID-19 epidemic.
Operating results of 2021, the Bank and its subsidiaries had net profit attributable to the Bank equal to 21,588 million baht, an increase of 29.0 percent from the same period last year. Based on the strong loan growth of 12.6 percent from the end of last year. Increasing the level of Coverage ratio to 168.8 percent, up from 147.3 percent at the end of 2020 to cope with economic uncertainty. Good asset quality management and control continued with NPLs Ratio-Gross at 3.50%, down from 3.81% at the end of last year. The bank set a provision for an expected credit loss of 32,524 million baht, although a 27.6% drop from the same period last year. but also to set aside a high level of reserve
The Bank and its subsidiaries’ operating profit before deducting provisions and income tax was 63,055 million baht, a decrease of 8.3% from the same period last year. Because during the same period of the previous year, the Bank earned special interest on loans from the auction of mortgage collateral properties. Excluding special interest income Operating profit before provisions and income tax declined 1.5 percent from the same period last year. This was a result of the decrease in interest rates trend, with NIM of 2.49%. The Bank’s management of operating expenses decreased by 1.4 percent, resulting in the cost to income ratio of 45.5%, equivalent to the same period of the year. before excluding special interest income
For the results of the 4th quarter of 2021 compared to the same quarter of the previous year. The Bank and its subsidiaries reported a net profit attributable to the Bank of 4,944 million baht, an increase of 43.2% from total income that expanded well from a 5.0 percent increase in interest income from a high loan growth focusing on Emphasis on quality loans, resulting in NIM of 2.47%, coupled with expansion in other operating income. Operating expenses increased by 5.6 percent from impairment of foreclosed assets. The Bank and its subsidiaries set aside provision for expected credit losses of 8,233 million baht, a decrease of 11.0 percent. The level of Coverage ratio has been increased.
Compared to the third quarter of 2021, the Bank and its subsidiaries’ operating income grew by 5.6 percent from non-interest income and net interest income grew by 1.0 percent. However, expenses increased by 12.4 percent from Loss from impairment of foreclosed properties Rising IT costs to support bank digital strategies as well as increases in seasonal expenses in terms of marketing promotion and staff expenses. This resulted in a 0.2 percent drop in operating profit before provisions and income tax, in line with a 2.2 percent drop in net profit attributable to the Bank. in line with the previous quarter to accommodate potential economic uncertainties.
The bank (bank-only) has a Tier 1 capital of 327,685 million baht and a total capital of 393,995 million baht, accounting for 16.54% and 19.88% of risk-weighted assets, respectively.
