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Krung Thai Bank Q4'19 net profit up 21.1% YOY

Krung Thai Bank PCL posted a 21.1% year-over-year increase in net profit for the quarter ended Dec. 31, 2019.

The bank's net profit attributable to equity holders rose to 7.46 billion baht from 6.16 billion baht in the prior-year period. Basic EPS climbed to 53 satang from 44 satang, according to a Jan. 21 earnings report.

The S&P Global Market Intelligence consensus normalized EPS estimate for the fourth quarter was 51 satang, with four analysts reporting, while the GAAP estimate was 49 satang, with three analysts reporting.

Net interest income for the period fell to 20.71 billion baht from 21.46 billion baht, while net fee and service income slipped to 6 billion baht from 6.01 billion baht. Total operating income amounted to 31.63 billion baht, up from 29.40 billion baht.

The lender's impairment loss of loans and debt securities dropped to 4.82 billion baht from 6.43 billion baht a year earlier.

For the 2019 full year, Krung Thai Bank's net profit attributable to equity holders went up 2.8% year over year in the aggregate 29.28 billion baht from 28.49 billion baht. Basic EPS inched up to 2.09 baht from 2.04 baht.

The bank's net interest margin for the quarter slipped to 2.91% from 3.08% in the previous quarter and from 3.23% in the year-ago quarter.

Its gross nonperforming loan ratio stood at 4.33%, down from 4.58% as of Sept. 30, 2019, and 4.53% as of Dec. 31, 2018. Its net NPL ratio fell to 1.83% from 1.92% and 1.94% over the same respective periods.

At the end of 2019, the Thai bank's total capital and Tier 1 capital ratio clocked in at 18.66% and 14.80%, respectively.

As of Jan. 21, US$1 was equivalent to 30.40 Thai baht.