Post by account_disabled on Dec 26, 2023 1:44:51 GMT -5
Mr. Adisorn Sermchaiwong, President and Chief Executive Officer of CIMB Thai Bank Public Company Limited, revealed that operating results for the 6-month period ending June 30, 2020 are summarized as follows: Financial statements for the six-month period ending 30 June 2019 that are used for comparison. The Bank Group has retrospectively adjusted its financial statements regarding the accounting method for recognizing effective interest income in accordance with Financial Reporting Standards No. 9. Bank Group Performance For the six-month period ending June 30, 2020, there was a net profit of 1,385.9 million baht, an increase of 743.0 million baht or 115.6 percent when comparing the net profit of the same period in 2019. The main cause was an increase in operating income.
Percentage work 10.5 and a 6.6 percent reduction in expected credit losses, net of a 5.8 percent increase in operating expenses. Operating income For the six-month period of 2020, the amount was 7,928.4 million baht, an increase Email Marketing List of 756.6 million baht or 10.5 percent compared to the same period in 2019 due to an increase in income from other operations of 924.4 million baht or 165.9 percent, the main reason. This came from an increase in net profit from financial instruments measured at fair value through profit or loss in the amount of 667.8 million baht and net interest income in the amount of 58.6 million baht or 1.0 percent due to an increase in interest income from the leasing business. net of a decrease in net fees and service income of 226.5 million baht or 24.6 percent, resulting from an increase in fees and service expenses.
Operating expenses for the six-month period 2020 compared to the same period 2019 increased by 258.2 million baht or 5.8 percent, mainly due to an increase in allowance for impairment of properties foreclosed and use expenses. pay Regarding the expansion of the Bank's work under the Fast Forward project, the ratio of operating expenses to operating income for the six-month period of 2020 was 59.5 percent, an improvement compared to the same period of 2019. At 62.1 percent, this was the result of a good management plan to control expenses combined with increased income. The ratio of net interest income to average assets (Net Interest Margin - NIM) for the six-month period of 2020 was 3.3 percent, decreased from the same period last year. 2019 was at 3.5 percent, resulting from a decrease in interest income from investments.
Percentage work 10.5 and a 6.6 percent reduction in expected credit losses, net of a 5.8 percent increase in operating expenses. Operating income For the six-month period of 2020, the amount was 7,928.4 million baht, an increase Email Marketing List of 756.6 million baht or 10.5 percent compared to the same period in 2019 due to an increase in income from other operations of 924.4 million baht or 165.9 percent, the main reason. This came from an increase in net profit from financial instruments measured at fair value through profit or loss in the amount of 667.8 million baht and net interest income in the amount of 58.6 million baht or 1.0 percent due to an increase in interest income from the leasing business. net of a decrease in net fees and service income of 226.5 million baht or 24.6 percent, resulting from an increase in fees and service expenses.
Operating expenses for the six-month period 2020 compared to the same period 2019 increased by 258.2 million baht or 5.8 percent, mainly due to an increase in allowance for impairment of properties foreclosed and use expenses. pay Regarding the expansion of the Bank's work under the Fast Forward project, the ratio of operating expenses to operating income for the six-month period of 2020 was 59.5 percent, an improvement compared to the same period of 2019. At 62.1 percent, this was the result of a good management plan to control expenses combined with increased income. The ratio of net interest income to average assets (Net Interest Margin - NIM) for the six-month period of 2020 was 3.3 percent, decreased from the same period last year. 2019 was at 3.5 percent, resulting from a decrease in interest income from investments.