CIMB THAI posts net profit of THB 1,736.3 million for 9M2023

ศุกร์ 20 ตุลาคม 2566 เวลา 10:44 น.

Mr. Paul Wong Chee Kin, President and Chief Executive Officer CIMB Thai Bank PCL commented on the unreviewed consolidated financial results for the nine months ended 3CIMB Thai Bank PCL September 2CIMB Thai Bank PCL23 (9M2CIMB Thai Bank PCL23).
CIMB Thai Group's consolidated operating income decreased by THB 387.4 million or 3.6% year-on-year ("YoY") to THB 1CIMB Thai Bank PCL,322.CIMB Thai Bank PCL million from 9M2CIMB Thai Bank PCL22 mainly due to an 18.6% decline in net fee and service income and an 18.1% decline in other income, partially offset by a 3.9% growth in net interest income. Pre-provision operating profit decreased by 18.8% YoY to THB 4,CIMB Thai Bank PCL71.3 million attributed to lower operating income and a 9.7% rise in operating expenses. Net profit was THB 1,CIMB Thai Bank PCL75.2 million or 38.2% YoY lower at THB 1,736.3 million due to operating expenses growth exceeding operating income growth, coupled with a 26.5% increase in expected credit loss (ECL). The higher ECL was in line with the Bank's prudent approach in view of the prevailing economic environment.

CIMB THAI posts net profit of THB 1,736.3 million for 9M2023

On a YoY basis, net interest income increased by THB 274.7 million or 3.9% mainly driven by loan expansion and an increase in interest income on investments. These were partially offset by lower net fee and service income of THB 213.1 million, or 18.6% YoY, largely attributed to lower fee income from insurance brokerage. Total other operating income decreased by THB 449 million or 18.1%, mainly from lower net gains on financial instruments measured at fair value through profit or loss, partially offset by higher gains on investment and gains on sale of non-performing loans. CIMB THAI posts net profit of THB 1,736.3 million for 9M2023

Operating expenses increased by THB 554.4 million or 9.7%, mainly from higher impairment loss on properties for sale, as well as taxes and duties. This resulted in a higher cost to income ratio of 60.6% in 9M2023 compared to 53.2% in 9M2022.

Net interest margin (NIM) over earning assets stood at 2.6% in 9M2023, compared to 2.7% in 9M2022, arising from higher cost of funds.

As at 30 September 2023, total gross loans (inclusive of loans guaranteed by other banks and loans to financial institutions) stood at THB 249.4 billion, an increase of 6.0% from 31 December 2022. Deposits (inclusive of bills of exchange, debentures and selected structured deposit products) stood at THB 298.2 billion, an increase of 2.9% from THB 289.7 billion as at end December 2022. The modified loan to deposit ratio increased to 83.6% from 81.2% as at 31 December 2022.

Gross non-performing loans ("NPL") stood at THB 8.5 billion, with a lower gross NPL ratio of 3.2% from 3.3% as at 31 December 2022. The improvement in the gross NPL ratio is reflective of CIMB Thai Group's stringent credit risk underwriting, effective risk management policies, improvement in loan collection processes and the continued management of the Bank's NPLs.

CIMB Thai Group's loan loss coverage ratio as at 30 September 2023 stood at 111.3% from 114.6% at the end of December 2022. Total allowance for expected credit losses stood at THB 8.8 billion, THB 1.5 billion over the Bank of Thailand's reserve requirements.

Total consolidated capital funds as at 30 September 2023 stood at THB 58.3 billion. The BIS ratio stood at 20.9%, of which 15.5% comprised Tier-1-capital.

ข่าวCIMB Thai Bank PCL+CIMB Thai Bankวันนี้

CIMB THAI posts net profit of THB 838.1 million for 3M2025

Mr. Paul Wong Chee Kin, President and Chief Executive Officer, CIMB Thai Bank PCL (CIMB Thai) commented on the unreviewed consolidated financial results for the three months ended 31 March 2025. CIMB Thai recorded a consolidated net profit of THB 838.1 million, an increase of THB 212.0 million or 33.9% year-on-year ("YoY") compared to 3M2024. The improvement was mainly attributed to a 2.2% increase in operating income and improved cost control with a 22.1% decline in operating expenses, despite

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