Krungsri announces 6.9 per cent profit bump for 2018

Corporate January 18, 2019 13:48

By The Nation

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The Bank of Ayudhya PCL and its business units have announced a strong performance for 2018, with a record net profit of Bt24.8 billion, a 6.9-per cent increase from 2017.

Krungsri attributed the net profit increase to three factors, including a higher net interest income supported by 10.4 per cent growth in outstanding loans, in a statement released on Friday. The other factors were higher non-interest and non-fee income, as well as effective expense management.

The increase underscores Krungsri’s competitive strength and agile ability to realign loan portfolio toward high-yield segments, the company statement said.

Krungsri president and CEO Noriaki Goto said, “Despite the challenging business environment, we continued to deliver another year of an outstanding performance with a record net profit of Bt24.8 billion.

“Our loans strongly grew by 10.4 per cent, and the growth was broad-based in all segments,” he said in the statement.

“Underlying our prudential risk management, asset quality remains healthy with an NPL ratio at 2.06 per cent, while our coverage ratio improved to 165.8 per cent. The achievement is proof positive that our business strategy is paying off, underscoring our agile ability to realign our loan portfolio toward high yield segments as we strive toward sustainable long-term growth.”

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