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Kasikornbank Q4 net profit up 25.16% YOY

Kasikornbank PCL reported a 25.16% year-over-year increase in net profit for the quarter ended Dec. 31, 2019, amid higher investment gains.

Net profit attributable to equity holders went up to 8.80 billion Thai baht from 7.03 billion baht in the prior-year period. Basic EPS inched up to 3.68 baht from 2.94 baht, according to a Jan. 21 earnings report.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 3.96 baht, with four analysts reporting, while the consensus GAAP EPS estimate for the quarter was 3.92 baht, with three analysts reporting.

Net interest income for the period came to 25.57 billion baht, slightly up from 25.47 billion baht, while net fees and service income grew to 9.41 billion baht from 8.99 billion baht. Net total operating income rose to 41.73 billion baht from 38.02 billion baht a year earlier.

The bank booked gains on investments worth 4.75 billion baht, up year over year from 179.3 million baht. Impairment loss on loans and debt securities increased to 8.82 billion baht from 8.51 billion baht.

The Thai bank's net interest margin for the quarter stood at 3.25%, down from 3.41% in the prior-year quarter.

For the 2019 full year, the lender's net profit attributable to equity holders inched up 0.70% year over year in the aggregate 38.73 billion baht from 38.46 billion baht. Basic EPS climbed to 16.18 baht from 15.07 baht.

The group's net nonperforming loan ratio at the end of 2019 came to 2.45%, up from 2.34% as of Sept. 30, 2019, and from 1.89% as of Dec. 31, 2018. Its gross NPL ratio for the period clocked in at 3.65%, up from 3.53% at the end of September 2019 and from 3.34% at the end of 2018.

As of Dec. 31, 2019, the group's capital adequacy ratio stood at 19.62%, up from 19.10% in the prior quarter and from 18.32% in the year-ago quarter. Its Tier 1 capital ratio for the period came in at 16.19%, slightly up from 16.76% as of Sept. 30, 2019, but up from 15.90% a year earlier.

As of Jan. 20, US$1 was equivalent to 30.33 Thai baht.