FINANCE
The combined net profit of listed Thai banks and their subsidiaries surged by 23.53% year-on-year to 42.68 billion baht in the first quarter, propelled by a surge in fee-based income.
The strong performance came despite seasonally marginal loan expansion.
The combined net profit excluded that of Krungthai Bank (KTB) and Land and Houses Bank, as their earnings were unavailable yesterday.
Siam Commercial Bank (SCB), Thailand's third largest lender by assets, reported the highest net profit of 13.12 billion baht, up 30.85% year-on-year.
But TMB Bank (TMB) was the best performer, with 124.66% on-year growth in net profit to 1.82 billion baht.
Bangkok Bank (BBL), the country's largest bank by assets, posted net profit of 9.01 billion baht in the first quarter, rising 7.8% year-on-year. The increase was supported by a 4.94% rise in net interest income to 13.88 billion baht and a 11.6% increase in net fee income to 5.22 billion baht.
BBL's total lending as of March 31, 2013 fell by 0.8% to 1.59 trillion baht from the previous quarter but increased by 5.4% from the same period last year. Its gross non-performing loans (NPLs) stood at 2.3% of outstanding credit with a solid capital adequacy ratio of 16.7%, of which 14.1% was tier-one capital.
Bank of Ayudhya (BAY) also posted the quarterly net profit of 4.05 billion baht yesterday, a 17.94% rise from a year earlier. The improving earnings were attributed to a 13% increase in net interest income to 10.60 billion baht and a 25.6% rise in net fee income to 3.61 billion.
For the first three months of the year, BAY's loans grew by 9% or 7.23 billion baht. The group's retail segment, primarily auto hire-purchase and mortgage loans, was the key contributor, with outstanding loans growing by 3.8% quarter-on-quarter and 20.4% year-on-year.
Meanwhile, commercial loans contracted slightly due to working capital repayments.
Thanachart Capital (TCAP), the holding company of Thanachart Bank, delivered a 56.97% year-on-year increase in its quarterly net profit to 1.95 billion baht. Its net interest income rose by 17.04% to 6.31 billion baht with loan growth for the first three months of the year at 2.14%, while its non-interest income increased by 44.92% to 4.09 billion baht.
CIMB Bank Thai (CIMBT) showed first-quarter net profit of 313.06 million baht, up 11.36% from the same period last year. The increase was mainly due to strong growth in net fee and service income and net interest income of 43.3% and 20.1%, respectively.
As of March 31, 2013, outstanding loans stood at 143.20 billion baht, an increase of 3.1% from the end of December 2012.
Loan growth was largely underpinned by the retail sector. The bank's gross NPLs fell to 2.6% of total loan portfolio from 2.8% in the previous quarter.
Share this article
About the author
Writer: Somruedi BanchongduangPosition: Business Reporter
Bangkok Post online classifieds
Try buying selling goods and properties 24/7 in our classifieds which has high purchasing power local expatriate audience from within Thailand and around the world.
Article source: http://www.thethailandlinks.com/2013/04/20/fee-income-increases-listed-banks-q1-earnings-by-24/
0 comments:
Post a Comment