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Krung Thai Bank Q3 net profit falls 18.9% YOY

Krung Thai Bank PCL reported a 18.9% year-over-year decline in net profit for the quarter ended Sept. 30.

The bank's net profit attributable to equity holders fell to 6.35 billion baht from 7.84 billion baht in the prior-year period. Basic EPS slipped to 45 satang from 56 satang, according to an Oct. 18 earnings report.

The third-quarter S&P Global Market Intelligence consensus estimate for normalized was 54 satang, while the GAAP EPS estimate was 49 satang, with three analysts reporting.

Net interest income for the period rose to 21.16 billion baht from 20.89 billion baht, while net fee and service income increased to 5.95 billion baht from 5.66 billion baht. Total operating income climbed to 30.43 billion baht from 28.89 billion baht.

The bank booked impairment loss of loans and debt securities amounting to 6.10 billion baht, up from 6.08 billion baht a year earlier.

The net interest margin for the period clocked in at 3.08%, down from 3.24% in the previous quarter and from 3.12% in the year-ago quarter.

At the end of September, the group's nonperforming loan ratio stood at 4.58%, down from 4.68% as of June 30, but up from 4.53% as of the end of 2018. Its net NPL ratio slipped to 1.92% from 1.93% and 1.94% in June 30 and Dec. 31, 2018, respectively.

Krung Thai Bank's common equity Tier 1 and Tier 1 capital ratios stood at 14.54% as of Sept. 30, up from 14.34% as of June 30 and from 14.35% as of Dec. 31, 2018.

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