Mr. Patchara Samalapa, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the year of 2018 of Baht 38,459 Million, an increase of Baht 4,121 Million or 12.00% over the previous year.

Operating performance for the year of 2018 compared with 2017, KBank and its subsidiaries has net profit of Baht 38,459 Million, an increase of Baht 4,121 Million or 12.00% over the previous year because KBank had set aside lower allowance aligned with assets quality. Moreover, net interest income increased by Baht 4,377 Million or 4.65% mainly due to interest income from loans to customers and investments. NIM stood at 3.39%. Non-interest income decreased by Baht 5,750 Million or 9.17% 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 Baht 1,976 Million or 2.98% mainly due to marketing expense resulting in the cost to income ratio that stood at 43.96%.

Operating performance for the fourth quarter of 2018 compared with the third quarter of 2018, KBank and its subsidiaries reported net profit of Baht 7,033 Million, a decrease of Baht 2,711 Million or 27.82%. Net interest income increased by Baht 467 Million or 1.86%. NIM stood at 3.41%, while non-interest income decreased by Baht 505 Million or 3.87% due to revenue from money market and capital market product and fees and service income - net, while net premiums earned – net increased. Moreover, other operating expenses increased by Baht 3,275 Million or 20.21% mainly due to marketing expense, resulting in the cost to income ratio in this quarter that stood at 51.24% due to seasonality. KBank still efficiently managed expense as yearly targeted.

As of 31 December 2018, KBank and its subsidiaries’ total assets were Baht 3,155,091 Million, rising Baht 254,250 Million or 8.76% over the end of 2017.The majority came from an increase in investments – net and loans.  NPL gross to total loans as of 31 December 2018 stood at 3.34%, while at the end of 2017 this stood at 3.30%. Coverage ratio as of 31 December 2018 stood at 160.60%, rising from the end of 2017 that stood at 148.45%.  In addition, as of 31 December 2018, KASIKORNBANK FINANCIAL CONGLOMERATE’s Capital Adequacy Ratio (CAR) according to the Basel III Accord was 18.32%, with a Tier-1 Capital ratio of 15.90%.