Post by account_disabled on Dec 28, 2023 2:16:45 GMT -8
Summary of annual operating results for 2019 - Net profit was 1,501.6 million baht, an increase of 1,494.7 million baht or 216 times (Y o Y). - Provision for doubtful accounts decreased by 48.7 percent (Y o Y) as a result of improving processes to increase asset quality. - Operating income of 14.2 billion baht, an increase of 472.5 million baht (Y o Y) - Net interest income increased by 160.6 million baht (Y o Y) - Net fees and service income increased by 362.3 million baht (Y o Y). - Net loans amounted to 242.1 billion baht, an increase of 6.3 percent (Y o Y).
Deposits amounted to 241.5 billion B2B Email List baht, an increase of 3.1 percent (Y o Y). Mr. Adisorn Sermchaiwong, President and Chief Executive Officer of CIMB Thai Bank Public Company Limited, revealed that the operating results of the banking group For the year ended December 31, 2019, there was a net profit of 1,501.6 million baht, an increase of 1,494.7 million baht or 216 times when comparing the net profit of the same period in 2018. The main cause was a decrease in the reserve for doubtful accounts of 48.7 percent. This was the result of process improvements to increase the quality of the bank's assets and a 3.5 percent increase in operating income, net of a 14.1 percent increase in operating expenses.
Operating income For the year ended December 31, 2019, the amount was 14.2 billion baht, an increase of 472.5 million baht or 3.5 percent compared to the same period in 2018 due to an increase in net interest income of 160.6 million baht or 1.5 percent. from the expansion of credit and the increase in interest income from hire purchase business and interest income from investments. And net fee and service income increased by 362.3 million baht or 20 percent due to an increase in fees from selling insurance products and fees from being a debt instrument distributor.
Deposits amounted to 241.5 billion B2B Email List baht, an increase of 3.1 percent (Y o Y). Mr. Adisorn Sermchaiwong, President and Chief Executive Officer of CIMB Thai Bank Public Company Limited, revealed that the operating results of the banking group For the year ended December 31, 2019, there was a net profit of 1,501.6 million baht, an increase of 1,494.7 million baht or 216 times when comparing the net profit of the same period in 2018. The main cause was a decrease in the reserve for doubtful accounts of 48.7 percent. This was the result of process improvements to increase the quality of the bank's assets and a 3.5 percent increase in operating income, net of a 14.1 percent increase in operating expenses.
Operating income For the year ended December 31, 2019, the amount was 14.2 billion baht, an increase of 472.5 million baht or 3.5 percent compared to the same period in 2018 due to an increase in net interest income of 160.6 million baht or 1.5 percent. from the expansion of credit and the increase in interest income from hire purchase business and interest income from investments. And net fee and service income increased by 362.3 million baht or 20 percent due to an increase in fees from selling insurance products and fees from being a debt instrument distributor.