KBank Q1/2011 net profit up 48.9% y-o-y


BANGKOK, 25 April 2011  – Kasikorn Bank (KBank) has reported a net profit for the operation in the first quarter this year of 6.114 billion baht, an increase of 15.75% from the previous quarter and 48.90% year-on-year. 

According to KBank Senior Executive Vice President Somkiat Sirichatchai, the net interest income stood at 12.945 billion baht, increasing by 470 million baht or 3.77% from the previous quarter and 2.053 billion baht or 18.85% year-on-year.

Net interest margin for the first quarter this year hence was at 3.46%. Cost to income ratio was at 48.36%, which was better than the previous quarter.

Meanwhile, non-interest income was at 8.3 billion baht, increasing by 793 million baht or 10.56% from the previous quarter and 1.706 billion baht or 25.87% year-on-year.

As of 31 March 2011, the bank had assets worth totally 1.678 trillion baht, up by 126.334 billion baht or 8.14% from 1.551 trillion baht at the end of 2011. Gross non-performing loans stood at 2.73%, an improvement from the figure in the previous quarter of 2.91%.