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Krungsri Group shows record earning

Krungsri Group, consisting of Bank of Ayudhya and subsidiaries, posted a 24.8 per cent increase in third-quarter net profit, driven by robust loan growth, stead net interest margin, strong fee and service income growth and lower non-performing loans.

 
With the quarterly earning of Bt3.76 billion, its nine-month earning topped Bt10.9 billion or a 23.8 per cent increase from the same period last year. In the quarter, its outstanding loans were expanded by Bt28 billion from June, while deposits grew by Bt49.9 billion. NPL stood at 2.65 per cent. The ratio of current and savings account to total deposits improved to 51.9 per cent in September, from 42.4 per cent in December 2011. 
 
"The third quarter was another record quarter for us. Both loans and deposits grew strongly, reflecting our ongoing product and service innovations and ability to sustain our market leadership position," said Mark Arnold, president & CEO of Krungsri Group.
 
He also maintained optimism over the fourth quarter, foreseeing "a sustained momentum in both domestic consumption and investment. In particular, given the higher seasonality impact, the fourth quarter is typically our strongest quarter".
 
At the end of September, BAY’s outstanding loans hit Bt784 billion while its assets expanded to Bt1.04 billion. The bank has a strong capital base with 15.8 per cent in capital adequacy ratio, with 11.5 per cent as Tier 1 capital.
 
BAY is expected to soon welcome a major shareholder restructuring, after GE Capital sold a 7 per cent stake. On behalf of GE, Morgan Stanley is now seeking a possible suitor for the remaining 25 per cent stake.
(Source : The Nation)
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Krungsri Group, Bank of Ayudhya, Mark Arnold