Kasikorn Bank Public Company Limited Revealed operating results for the first quarter of 2021 compared to the first quarter of 2020, the Bank and its subsidiaries reported net profit of 10,627 million baht, an increase from the same quarter of the previous year by 3,252 million baht or 44.10%.
This was due to an increase in non-interest income of Baht 1,923 million or 19.30% as a result of the fair value adjustment (Mark to Market) of financial assets based on market conditions. And the fee received from fund management increased.
Other operating expenses decreased 950 million baht or 5.44% due to cost management during the economic downturn. The cost to income ratio was 41.30%.
In addition, the Bank and its subsidiaries set an expected credit loss of 8,650 million baht, a decrease from the same quarter of the previous year by 3,222 million baht or 27.14%. Consider the factors carefully and in line with the uncertain economic conditions of the COVID-19 situation.
As of March 31, 2021, the Bank and its subsidiaries had total assets of 3,767,115 million baht, an increase of 108,317 million baht or 2.96% from the end of 2020, mainly due to an increase in net investments. And loan growth The bank has closely monitored the credit quality of debtors affected by COVID-19.
