Krung Thai Bank 2nd quarter stood profit increased to 55%

Krung Thai Bank reported a net income of 10,730 million baht, its highest semiannually net income in 16 years.  Its quarterly net income soared 55% year-to-year to 1,868 million baht.

Mr. Apisak Tantivorawong, President, Krung Thai Bank PCL. revealed the main reasons of increasing profit were that net interest and dividend income up 29% to 2,737 million baht while its income from fees and service had risen 14% to 369 million baht. Moreover, Net interest margin moved up to 2.68%.

In the first six months, the net profit jumped 66% year-to-year to 10,730 million baht. As of June 30, 2011, the bank’s loan portfolio grew 6% to 1,327,811 million baht or increased by 79,970 million baht compared with those in the last quarter of 2010 while it gained total deposits of 1,312,387 million baht, an increase of 64,336 million baht or 5%. Non-performing loan  stood at 67,543 million baht, decreasing by 8,888 million baht or 12%. The Bank’s BIS ratio is 13.92% which the Tier 1 capital is calculated to be 8.61%, enabling the bank to be able to expand the business as planned.

According to Tantivorawong, the bank was satisfied with its performance, especially with the loan portfolio that continually expanded as a consequence of the growth public-private business loans while the quality of assets was getting better. Besides, Non-interest income has expanded itself well than the bank had taught.