Date: 24 October 2024
Broker: UOB Kay Hian

Overview

Krung Thai Bank (KTB) reported a net profit of Bt11.1 billion for the third quarter of 2024, marking an 8% increase year-on-year but a slight decrease of 1% compared to the previous quarter. The results were in line with both UOB Kay Hian’s and consensus expectations.

Financial Performance

• Net Profit: Bt11.1 billion
• Year-on-Year Change: +8%
• Quarter-on-Quarter Change: -1%
• PPOP: Increased by 6% year-on-year and 2% quarter-on-quarter.
• Non-Performing Loans (NPLs): NPLs decreased quarter-on-quarter, indicating improving asset quality with a decline in new NPL formation.

Asset Quality

KTB’s asset quality remains healthy, demonstrating effective management of credit risks. The improvement in NPLs reflects the bank’s strong lending practices and proactive measures in risk management.

Outlook

KTB’s performance suggests a solid foundation for sustained growth, as the bank continues to navigate the challenges posed by the economic environment. The consistent profitability and healthy asset quality position KTB favorably for future developments.

Conclusion

KTB remains a strong player in the Thai banking sector, showcasing resilience through steady profit growth and effective management of credit quality amidst economic uncertainties.