KBank records Bt22-bn profit in H1

President Pipit Aneaknithi said net profit grew by Bt2.52 billion, 13.18 per cent, compared to the same period of 2017. 
In terms of operating performance H1, KBank and its subsidiaries reported net profit of Bt21.68 billion, an increase of Bt2.52 billion or 13.18 per cent, mostly because KBank has set aside lower allowance for impairment loss on loans, he said. 
However, operating profit before impairment loss on loans and debt securities and income tax expense was similar to the same period last year.
Net interest income increased by Bt1.63 billion or 3.51 per cent mainly due to interest income from repurchase agreement transactions and loans to customers. NIM stood at 3.4 per cent, 
Meanwhile, non-interest income decreased by Bt134 million or 0.43 per cent due mostly to decrease in net premiums earned – net and fees waived for money transfers through digital channels – while revenue from money market and capital market products increased from sale of securities and foreign exchange transaction. 
Moreover, other operating expenses increased by Bt1.59 billion or 5.11 per cent mainly due to employee and marketing expenses, resulting in a cost-to-income ratio of 41.13 per cent.