Kasikornbank has announced net profit of Bt38.459 billion for 2018, an increase of Bt4.121 billion or 12 per cent over the previous year.
Patchara Samalapa, the bank's president, said that in 2018 KBank and its subsidiaries had a net profit of Bt38.459 billion because KBank had set aside lower allowance aligned with assets quality.
Moreover, the bank said net interest income increased by Bt4.377 billion or 4.65 per cent, mainly due to interest income from loans to customers and investments. NIM stood at 3.39 per cent.
Non-interest income decreased by Bt5.750 billion or 9.17 per cent due mostly to fees waive for money transfers through digital channel and decrease in net premiums earned - net, while revenue from money market product increased from foreign exchange transaction.
Moreover, other operating expenses increased by Bt1.976 billion or 2.98 per cent mainly due to marketing expense resulting in the cost to income ratio that stood at 43.96 per cent.