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Kasikornbank Q3 net profit increases YOY

Thailand-based Kasikornbank PCL posted an increase in net profit for the third quarter ended Sept. 30 amid higher net interest income.

The bank said in an Oct. 19 report that net profit attributable to equity holders rose to 9.74 billion baht from 9.47 billion baht in the prior-year period. Basic EPS rose to 4.07 baht from 3.96 baht.

The S&P Global Market Intelligence consensus normalized final EPS estimate for the third quarter was 3.88 baht. The estimate for GAAP EPS was 3.97 baht, with three analysts reporting.

Net interest income for the quarter increased to 25.00 billion baht from 23.71 billion baht in the prior-year period. Net fees and service income declined to 9.35 billion baht from 10.64 billion baht.

Net interest margin for the quarter stood at 3.43%, compared to 3.39% in the second quarter and to 3.47% in the third quarter of 2017.

For the nine months to Sept. 30, the bank's net profit attributable to equity holders increased 9.76% year over year to 31.43 billion baht from 28.63 billion baht. Basic EPS rose to 13.13 baht from 11.96 baht.

Net interest income for the nine-month period rose 4.17% to 73.07 billion baht from 70.14 billion baht.

The bank's gross nonperforming loan ratio stood at 3.30% as of Sept. 30, compared to 3.29% as of June 30 and to 3.30% as of Dec. 31, 2017. Its net NPL ratio clocked in at 1.89%, compared to 1.93% as of June 30 and to 1.85% as of Dec. 31, 2017.

The lender's capital adequacy ratio stood at 18.96%, up from 18.05% at the end of June and from 17.96% at the end of December 2017. Its Tier 1 capital ratio was 16.50%, up from 15.57% as of the end of the previous quarter and from 15.66% as of Dec. 31, 2017.

As of Oct. 18, US$1 was equivalent to 32.57 Thai baht.