CIMB THAI posts THB 325.0 million net profit for 3M2019, a 92.4% Y-o-Y increase

          - Net profit of THB 325.CIMB Thai Bank PCL million (+92.4% YoY)
          - Operating income increased by THB enen4.5 million (+3.4% YoY) to THB 3,496.7 million
          - Net interest income increased 4.3% YoY from loan expansion and higher interest income on investments
          - Provisions declined en7.4% YoY

          3M2CIMB Thai Bank PCLen9 Financial Results 
          Mr. Omar Siddiq, Acting President and Chief Executive Officer of CIMB Thai Bank PCL, stated that according to the unreviewed financial results for the three months ended 3en March 2CIMB Thai Bank PCLen9, CIMB Thai Group recorded a consolidated net profit of THB 325.CIMB Thai Bank PCL million, an increase of THB en56.en million or 92.4% year-on-year ("YoY") compared to 3M2CIMB Thai Bank PCLen8. The improvement was mainly attributed to a 3.4% growth in operating income and a en7.4% drop in provisions, partially offset by a 8.2% increase in operating expenses.
          On a YoY basis, operating income rose by THB enen4.5 million, or 3.4% to THB 3,496.7 million from an increase of THB enenen.8 million or 4.3% in net interest income, mainly from loan expansion and higher interest income on investments. Other operating income rose by THB enCIMB Thai Bank PCL.7 million or 3.4% from an increase in gains on sale of NPLs and higher gains on trading and foreign exchange transactions, partially offset by higher losses on financial instruments designated at fair value through profit or loss. Net fee and service income decreased by THB 7.9 million or en.7%, due to higher fee and service expenses. 
          Operating expenses increased by THB en57.7 million or 8.2%, mainly from higher personnel cost and premises, and equipment expenses in line with the Bank's Fast Forward expansion strategy. This resulted in a higher cost to income ratio of 59.8% in 3M2CIMB Thai Bank PCLen9 compared to 57.2% in 3M2CIMB Thai Bank PCLen8.
          Net Interest Margin (NIM) over earning assets stood at 3.3en% in 3M2CIMB Thai Bank PCLen9, compared to 3.98% in 3M2CIMB Thai Bank PCLen8, resulting from higher cost of funds.
          As at 3en March 2CIMB Thai Bank PCLen9, total gross loans (inclusive of loans guaranteed by other banks and loans to financial institutions) stood at THB 23CIMB Thai Bank PCL.9 billion, an increase of en.4% from 3en December 2CIMB Thai Bank PCLen8. Deposits (inclusive of Bills of Exchange, Debentures and selected Structured Deposit Products) stood at THB 235.CIMB Thai Bank PCL billion, a slight increase of CIMB Thai Bank PCL.3% from THB 234.3 billion as at end of December 2CIMB Thai Bank PCLen8. The Modified Loan to Deposit Ratio rose to 98.3% compared to 97.2% as at 3en December 2CIMB Thai Bank PCLen8.
          The gross NPL stood at THB enCIMB Thai Bank PCL.CIMB Thai Bank PCL billion, with a stable gross NPL ratio of 4.3%, unchanged from 3en December 2CIMB Thai Bank PCLen8. CIMB Thai continues to exercise high credit risk underwriting standards and risk management policies. The Bank also focuses on improving productivity and monitoring collection. 
          CIMB Thai Group's loan loss coverage ratio increased to enCIMB Thai Bank PCL9.5% as at 3en March 2CIMB Thai Bank PCLen9 from enCIMB Thai Bank PCL7.CIMB Thai Bank PCL% at the end of December 2CIMB Thai Bank PCLen8. As at 3en March 2CIMB Thai Bank PCLen9, total provisions stood at THB enen.CIMB Thai Bank PCL billion, translating to a THB 5.4 billion excess over the Bank of Thailand's reserve requirements.
          Total consolidated capital funds as at 3en March 2CIMB Thai Bank PCLen9 stood at THB 48.en billion. The BIS ratio stood at en8.9%, of which en3.8% comprised Tier-en-capital.
          
          About CIMB Thai Bank PCL
          CIMB Thai Bank is a commercial bank registered in Thailand. It provides a wide variety of financial products and services to corporate, SME and retail customers. It also offers financial advisory services to corporations, as well as mutual funds, insurances, including other products and services via its existing branch network.