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Bangkok Bank posts 4.5% YOY growth in Q3 net profit

Bangkok Bank PCL reported a 4.5% year-over-year increase in net profit for the quarter ended Sept. 30.

The Thai bank said in an Oct. 18 report that net profit attributable to owners rose to 9.44 billion baht, from 9.03 billion baht in the prior-year period. EPS inched up to 4.94 baht from 4.73 baht.

The S&P Global Market Intelligence consensus normalized EPS estimate for the third quarter was 4.72 baht while the GAAP EPS estimate, with three analysts reporting, was 4.64 baht.

Net interest income for the period slid to 17.94 billion baht from 18.26 billion baht, while net fees and service income rose to 6.86 billion baht from 6.26 billion baht. Operating expenses fell to 12.68 billion baht from 12.88 billion baht.

The lender booked impairment loss of loans and debt securities worth 5.38 billion baht, up slightly from 5.35 billion baht a year earlier.

Its net interest margin for the quarter stood at 2.35%, slightly down from 2.36% from the previous quarter and 2.42% a year earlier. Its nonperforming loan ratio clocked in at 3.6% at end-September, up from 3.5% at the end of June and 3.4% at end-December 2018.

Bangkok Bank's total capital adequacy ratio was 20.7% at end-September, up from 18.3% at end-June and 18.0% at end-December 2018. Its Tier 1 and common equity Tier 1 capital ratios were 17.7% each as of Sept. 30, up from 16.8% and 16.4% each as of end-June and end-December 2018, respectively.

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