Bangkok, July 22 – Krung Thai has strong operating results. Net profit for the first six months was 20,223 million baht, an increase of 18%. Only in the second quarter, net profit was 10,156 million baht, an increase of 22% due to an increase in operating income. Help support customers to solve debt problems sustainably.
Mr. Payong Srivanich, President Krung Thai Bank revealed that the Thai economy in 2023 is likely to continue to recover. with strong support from the tourism sector The number of foreign tourists accumulated in the first 5 months of 2023 grew better than expected, making the whole year 2023 the number of foreign tourists has a chance to reach 29-30 million people, gradually expanding the distribution area. support more normal economic activities has a positive effect on employment household income and domestic demand to be able to support the recovery in the future
However, the Thai economy going forward will still face challenges from policy transitions to return to normalcy. Both the gradual reduction of the role of government measures and policy rate hikes in line with trends and risks going forward. While the business sector is still facing pressure from rising costs. The global economic slowdown put pressure on the export and tourism sectors. Including the high level of household debt. Krung Thai Bank Therefore, it pays attention to conducting business with caution. and closely manage asset quality To maintain a high level of coverage ratio to accommodate economic uncertainty.
For the performance of the first six months of 2023 compared to the same period of the previous year The Bank and its subsidiaries reported a net profit attributable to the Bank of 20,223 million baht, an increase of 18.0 percent from growth in the loan portfolio in line with the Bank's strategy. As a result, the overall rate of return improved. Including the expansion of income from other operations. The Bank places importance on expanding investment in information technology for the future. to support services to customers In addition, effective holistic expense management resulted in the Cost to Income ratio at 39.0 percent, down from 41.9 percent in the same period last year.
While operating results for the second quarter of 2023, net profit attributable to the Bank was 10,156 million baht, an increase of 21.5 percent
. An increase of 36.8 percent, considering the cautious business operations under the uncertain economic situation. The company still maintains a high coverage ratio of 177.4 percent while carefully managing asset quality. The ratio of non-performing loans to total loans (NPLs Ratio) was 3.11 percent.-Thai News Agency
Source: Thai News Agency