Bangkok, CIMB Thai Bank announced 1Q/2024 net profit of 626.1 million baht, a decrease of 24.6% from the same period last year. Loans were 248.3 billion baht, an increase of 1.4%. Deposits were 316.9 billion baht, an increase of 2.1%. Total capital funds to risk-weighted assets were 20.8%. Tier 1 capital was at 15.5%. Paul Wong Chee Kin, President and Chief Executive Officer of CIMB Thai Bank, revealed that the banking group's operating results for the three-month period ending March 31, 2024 had a net profit of 626.1 million baht, a decrease of 204 million baht or 24.6 percent compared to net profit for the same period in 2023, profit before income tax amounted to 790.2 million baht, a decrease of 247.9 million baht or 23.9 percent, mainly due to a decrease in operating income. 8.4 each and an increase in operating expenses of 11.8 percent, net of expected credit losses of 36.9 percent. When comparing operating results for the three-month periods ending March 31, 2024 and 2023, operating income in 2024 am ounted to 3,506.1 million baht, a decrease from the same period in 2023 in the amount of 322.7 million baht or 8.4 percent. The decrease is as follows. This was a result of a decrease in net interest income of 28.8 million baht or 1.2 percent due to an increase in interest expenses on deposits. Net fees and service income decreased by 26.2 million baht or 8 percent due to an increase in fees and service expenses. Other income decreased by 267.7 million baht or 23.1 percent, mainly due to a decrease in net profits from investments and net profits from sales of non-performing loans. Operating expenses for the three-month period of 2024 compared to the same period of 2023 increased by 231.7 million baht or 11.8 percent, mainly due to an increase in allowance for impairment of foreclosed properties and tax expenses. duty This makes the ratio of operating expenses to operating income for the 3-month period of 2024 at 62.5 percent, increased compared to the same period of 2023 at 51.2 percent. The ratio of net in terest income to average assets (Net Interest Margin-NIM) for the 3-month period of 2024 was at 2.2 percent, decreasing from the same period in 2023 at 2.6 percent as a result of increased deposit costs. March 31, 2024 Loans, net of deferred income (Including loans guaranteed by other banks and loans to financial institutions) of the banking group stood at 248.3 billion baht, an increase of 1.4 percent compared to loans as of December 31, 2023. The banking group had deposits. (Including bills of exchange, bonds and certain types of financial products) amounting to 316.9 billion baht, an increase of 2.1 percent from the end of 2023 which amounted to 310.4 billion baht. The bank group's Modified Loan to Deposit Ratio decreased to 78.4 percent from 78.9 percent as of December 31, 2023 Non-performing loans (NPLs) stood at 8.4 billion baht. The ratio of non-performing loans to total loans was 3.4 percent, an increase compared to 3.3 percent as of December 31, 2023. This was due to retail loans. However, the grou p The Bank has a strict credit risk management policy. Effective risk management measures Including improving the guidelines for debt collection from existing non-performing loans. and continuously solving the problem of non-performing loans. The ratio of allowance for doubtful accounts to non-performing loans as of March 31, 2024 was 121.3 percent, down from 124.2 percent at the end of 2023. The group's allowance for expected credit losses. The Bank is at 9.6 billion baht, which is 1.5 billion baht in excess reserves according to the Bank of Thailand criteria. Total capital funds of the banking group as of the end of March 31, 2024 amounted to 59.7 billion baht, representing a total capital adequacy to risk-weighted assets ratio of 20.8 percent, with a Tier 1 capital ratio of 15.5 percent. Source: Thai News Agency
- The Ministry of Finance expects the Thai economy to grow 2.4% in 2014.
- ‘Sara Lamsam’ received the honorary award of TOP CEO (THAILAND) 2023 for the 3rd year in a row.
- Sipsongpan businessman interested in investing Real estate – agricultural products – logistics – tourism in Thailand
- The Ministry of Finance is serious about collecting VAT on imported products under 1,500 baht.
- PEA-MEA recommends using hot headlights Keep an eye on increasing debt after people find Pay Later to pay electricity bills instead.
- Tomorrow is the last day. Register victims to invest in STARK stocks
- Analysts believe Pichai, sitting as Finance Minister, supports Digital Wallet.
- China-Laos respond to extending the opening and closing hours of the Mohan-Boten checkpoint. Giving Thai fruit successfully
- “Krungthai” responds to government policy Reduce loan interest, effective 16 May.
- Checking readiness to transport cadmium back to landfill in Tak Province
- Be sure before sharing. CHECK-LIST: 5 popular stories. Recipes for nourishing eyebrows and hair to make them thick and black. Is it true?
- A 25-year-old man was arrested for tricking a 14-year-old into living together.
- Police Region 1 commander asks for time to investigate news of a chemical warehouse being set on fire.
- ‘Phi Phi Island’ faces a water shortage crisis.
- DSI-CIB sends prosecutor’s file to file 3 serious charges in stock manipulation case. MORE
- Provincial Police Region 1 raided a warehouse to bust a drug network, seizing more than 4 million methamphetamine tablets.
- A gang of youths wielding samurai swords was arrested to attack villagers.
- Police prepare to bring the female former CEO of a famous company to court on May 10 in a drunk driving case in 2022.
- Government lottery results, draw date 2 May 2024
- Be sure before sharing CyberUpdate : 2 May 2024 World Password Day! Is your password safe?
- ‘Suriya’ moves forward with pushing for 20 baht electric trains, all colors, September 2025.
- Question: Can political rights be cut off in connection with electing senators?
- Phuket has been chosen to host GSTC 2026.
- Invite you to apply for senator. You can do it. But the regulations can be confusing.
- The Prime Minister called several ministers to meet.
- Claims the Prime Minister to explain that Cabinet adjustments have been made and KPI results will increase.
- I believe the cabinet adjustment will not escalate.
- Thailand-Brunei expands cooperation in all dimensions.
- Narrow regulations for selecting senators will cause many complaints.
- Academics look at adjustments The Cabinet was caught by the wrong person.
- ‘Ratchavinit Bangkhen’ wins the Futsal Pan Championship for the second time in a row.
- Thai football team finished 11th, aiming to play in the 2025 World Games.
- View Yaowapa joins hands with Bluport Hua Hin to organize a classical guitar competition, hoping to develop youth – Thai youth. To a world-class guitarist
- The Gunners beat Spurs to lead the pack.
- Thailand national futsal team lost to Iran 1-4 and won the Asian Futsal Championship runner-up.
- Korfball player Impressive at Jomtien Beach
- Thai girls’ team competes in the 19-year-old beach volleyball ASEAN championship.
- “Muhammad” freed from ban, hopes to lead Thai small table to win Asian championship
- ‘Miguel’ believes that the small Thai table will fight against Iran in a close match.
- ‘Governor Chatchat’ opens the ‘Bangkok Sports Festival’ to promote exercise.