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Bank of Ayudhya Q3 net profit grows 5.6% YOY

Bank of Ayudhya PCL reported a 5.6% year-over-year increase in net profit for the quarter ended Sept. 30 amid higher investment gains.

The Thai lender's third-quarter net profit attributable to owners of the bank rose to 6.56 billion baht, from 6.21 billion baht in the year-ago period. Basic EPS inched up to 89 satang from 84 satang, according to an Oct. 18 earnings report.

Net interest income rose to 19.12 billion baht from 19.08 billion baht, while net fees and service income increased to 5.27 billion baht from 5.12 billion baht. Total operating income rose to 28.22 billion baht from 27.29 billion baht.

Net interest margin for the quarter came to 3.61%, up from 3.58% in the previous quarter but down from 3.87% in the prior-year period. Its nonperforming loan ratio as of Sept. 30 was 2.01%, compared to 1.96% as of June 30 and 2.08% at end-2018.

The bank booked net gains on investments worth 115.3 million baht in third quarter, up from 44.3 million baht a year earlier. Impairment loss on loans and debt securities grew to 6.94 billion baht from 6.30 billion baht.

At the end of September, its capital adequacy ratio clocked in at 16.46%, up from 15.88% at end-June and 15.13% at end-2018. Its common equity Tier 1 ratio for the period also rose to 11.79%, from 11.28% and 11.59% over the same respective periods.

As of Oct. 18, US$1 was equivalent to 30.29 Thai baht.