Post by account_disabled on Dec 28, 2023 10:30:48 GMT
Miss Khattiya Inthawichai, Managing Director Kasikorn Bank revealed that the Thai economic situation in 2019 has not clearly recovered. The export sector continues to contract amidst the impact of the strengthening baht and signs of a slowdown in the global economy, although the United States and China were able to reach a phase 1 trade agreement and signed the agreement last month. January 2020. In addition, the investment atmosphere in the private sector and government is still in a slowdown direction. while private consumption continues to expand But it began to slow down in the second half of the year.
The government's economic C Level Executive List stimulus measures were effective in helping to maintain some domestic purchasing power at the end of the year. Performance in 2019, the Bank and its subsidiaries had a net profit of 38,727 million baht, while in 2018 there was a net profit of 38,459 million baht, an increase of 268 million baht or 0.70% from the previous year, with net interest income increasing by 4,150. Million baht or 4.21%, mainly from interest income from loans and investments. As a result, the net interest margin (NIM) was at 3.31%. In addition, non-interest income increased by 858 million baht or 1.51%, which was mainly due to income from sales. Securities increased Meanwhile, net income from underwriting decreased.
Including the cancellation of fees for transferring money via digital channels. As for other operating expenses, an increase of 4,381 million baht or 6.41% was mainly due to public relations and brand building activities. and marketing activities This is in line with the bank's business strategy. As a result, the ratio of other operating expenses to net operating income (Cost to income ratio) was at the level of 45.32%. The Bank has increased the allowance for doubtful accounts from the previous year.
The government's economic C Level Executive List stimulus measures were effective in helping to maintain some domestic purchasing power at the end of the year. Performance in 2019, the Bank and its subsidiaries had a net profit of 38,727 million baht, while in 2018 there was a net profit of 38,459 million baht, an increase of 268 million baht or 0.70% from the previous year, with net interest income increasing by 4,150. Million baht or 4.21%, mainly from interest income from loans and investments. As a result, the net interest margin (NIM) was at 3.31%. In addition, non-interest income increased by 858 million baht or 1.51%, which was mainly due to income from sales. Securities increased Meanwhile, net income from underwriting decreased.
Including the cancellation of fees for transferring money via digital channels. As for other operating expenses, an increase of 4,381 million baht or 6.41% was mainly due to public relations and brand building activities. and marketing activities This is in line with the bank's business strategy. As a result, the ratio of other operating expenses to net operating income (Cost to income ratio) was at the level of 45.32%. The Bank has increased the allowance for doubtful accounts from the previous year.