Corporate

All posts tagged Corporate

Krungthai organizes special event to celebrate The Royal Coronation Ceremony

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367954

Krungthai organizes special event to celebrate The Royal Coronation Ceremony

Breaking News April 19, 2019 12:59

By The Nation

Ekniti Nitithanprapas, chairman of the Board of Director of Krungthai Bank led executives and employees to attend an elaborate event to celebrate the Royal Coronation Ceremony to be held next month, according to its press release.

This special ceremony involved singing the royal anthem and Thai verses as well as signing a blessing book to pay respect and show loyalty to His Majesty King Maha Vajiralongkorn on this auspicious ceremony at Krungthai Bank Headquarter.

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KBank’s first-quarter profit down Bt722m year on year

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367951

KBank’s first-quarter profit down Bt722m year on year

Corporate April 19, 2019 11:31

By The Nation

Kasikornbank (KBank) has reported net profit of Bt10.04 billion for the first quarter of the 2019.

KBank president Predee Daochai said that though domestic economic activities continued to grow during the first quarter, the overall economic recovery remained weak due to slowing exports and tourism.

Due to these challenges, businesses had to contend with new modes of competition, regulatory changes and technological changes which have affected consumer behaviour, he said.

KBank and its subsidiaries reported net profit of Bt 10.04 bIllion for the first quarter, down Bt722 million or 6.70 per cent year on year.

Net interest income (NII) increased by Bt1.5 billion or 6.57 per cent mainly due to interest income from loans to customers and investments. Net interest margin (NIM)  stood at 3.32 per cent, while non-interest income decreased by Bt2.87 billion or 19 per cent mainly due to fees waived for money transfers through digital channel and decrease in net premiums earned. The cost-to-income ratio in this quarter stood at 42.70 per cent.

KBank and its subsidiaries reported operating profit before impairment loss on loans and debt securities and income tax expense of Bt 21.48 billion, an increase from the preceding quarter of Bt2.94 bIllion or 15.89 per cent because other operating expenses seasonally decreased by Bt3.46 billion or 17.81 per cent due to marketing expenses.

NII decreased by Bt219 million or 0.86 per cent and non-interest income decreased by Bt304 million or 2.43 per cent due mostly to a decrease in net premiums earned, while revenue from money market and capital market products increased.

Moreover, KBank has set aside lower allowance for impairment loss on loans by Bt928 million or 10.91 per cent. For this quarter, net profit stood at Bt10.04 billion, an increase of Bt3.01 billion over the previous quarter.

As of March 31, KBank and its subsidiaries’ total assets were Bt3.15 trillion, a decrease of Bt4.45 billion or 0.14 per cent over the end of 2018. The majority came from a decrease in interbank and money markets item while investments increased.

NPL coverage ratio as of March 31 stood at 158.78 per cent, while at the end of 2018 this stood at 160.60 per cent.

SCB results show big improvement QoQ

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367950

SCB results show big improvement QoQ

Breaking News April 19, 2019 10:54

By The Nation

Siam Commercial Bank and its subsidiaries reported (unreviewed) consolidated net profit of Bt9.2 billion for the first quarter of 2019.

Net profit was down 19 per cent year on year (YoY), mainly from a one-time increase in personnel-related expenses (severance pay) necessitated by the amended labour law. However, the quarter-on-quarter (QoQ) change showed a 29-per-cent increase in profit driven by improvements in some key areas.

On the back of a 3 per cent YoY loan growth, net interest income (NII) grew 6 per cent YoY but decreased slightly by 0.3 per cent QoQ to Bt24.7 billion as a result of the bank’s efforts to rebalance its loan portfolio and expand the high margin lending business.

Non-NII improved 10 per cent QoQ mainly driven by an increase in trading and forex income. Moreover, the resumption of positive net insurance premium also contributed to a strong non-NII for this quarter.

Operating expenses rose 10 per cent YoY and 11 per cent QoQ to Bt17.8 billion due to a one-time increase in personnel-related expenses of Bt1.4 billion to comply with the amended labour law. Excluding the one-time expenses, the cost-to-income ratio would be 47.5 per cent, which is lower than 47.7 per cent in the previous quarter.

In the first quarter of 2019, asset quality continued to strengthen with a decline in non-performing loans (NPLs) and further improvement in NPL ratio to 2.77 per cent from 2.85 per cent in the previous quarter.

In light of the additional provisions provided in the last quarter, the bank set aside Bt5.4 billion of provisions or 102 basis points in credit cost to ensure an adequate level of buffer against the current growth momentum. NPL coverage ratio also strengthened to 152.8 per cent compared with 146.7 per cent in the previous quarter and the bank’s capital adequacy ratio remained strong at 17.1 per cent

Arthid Nanthawithaya, chairman of the executive committee and CEO, said that despite the impact from one-time staff costs to comply with the amended labour law, the bank’s core business engines remain resilient with great potential to strengthen further as benefits from the Transformation Programme continue to be realised and more customers migrate to digital platforms. “We are currently in the phase of monetising the Transformation Programme and reaping productivity gains from digitisation, which will drive revenue enhancement from new businesses and further reduce operational expenses over time. The bank also adopts an agile culture on the four pillars of customer centricity, speed, innovation and risk culture to advance towards the goal of being the Most Admired Bank.”

Three lenders boost new loans in first three months

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367910

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Three lenders boost new  loans in first three months

Corporate April 19, 2019 01:00

By   THE NATION

TMB Bank Plc, CIMB Thai and LH Financial Group Plc have reported growth in new loans in the first quarter of this year in line with expansion in the country’s economy.

TMB Bank Plc announced yesterday that the bank expanded its deposit base by 1.8 per cent to Bt661 billion in the first quarter, compared with the year-earlier quarter, driven by the retail segment.

Loans for the three months grew by 0.2 per cent from the final quarter of last year to reach Bt687 billion, backed by mortgages.

However, the bank’s net profit fell 7.2 per cent to Bt1.57 billion for the quarter, compared with the last quarter of last year, due mainly to lower non-interest income coupled with the one-time set-up of an employee retirement benefits scheme following a revision of the Thai Labour Protection Act.

Asset quality is on track and the non-performing loans (NPL) ratio stayed at 2.81 per cent, while its coverage ratio remained at a high 145 per cent, the bank’s chief executive officer Piti Tantakasem said in a press statement yesterday.

Piti said the bank has focused on a deposit-led strategy by expanding its customer base through flagship deposit products.

“Once these are learned and understood by our customers, we then offer them other products and services including loans, bancassurance, and investments that fit and answer their financial needs,” Piti said. “At TMB, we do not only make the difference on products and services but would also like to offer more benefits to the customers under the Get More with TMB strategy.

“Under this strategy, TMB is offering more benefits in the form of accident insurance with coverage of up to 20 times a deposit, to a maximum of Bt3 million, to TMB All Free customers who have maintained a minimum balance of at least Bt5,000. As we are continuing to offer products and benefits, TMB can expand its customer base and deposit continuously.”

At CIMB Thai Bank Plc, net profit in the first quarter jumped 92.4 per cent from the year-ago quarter to Bt325 million.

The bank’s acting president and chief executive officer Omar Siddiq said in a press statement yesterday that the improvement was mainly attributed to 3.4 per cent growth in operating income and a 17.4 per cent drop in provisions, partially offset by an 8.2 per cent increase in operating expenses.

As of March 31, total gross loans (including loans guaranteed by other banks and loans to financial institutions) stood at Bt230.9 billion, an increase of 1.4 per cent from the end of 2018. Deposits (including bills of exchange, debentures and selected structured deposit products) stood at Bt235 billion, an increase of 0.3 per cent from the Bt234.3 billion at the end of 2018. The modified loan to deposit ratio rose to 98.3 per cent, compared to 97.2 per cent at the end of December.

The gross NPL stood at Bt10 billion, with a stable gross NPL ratio of 4.3 per cent, unchanged from December 31. “CIMB Thai continues to exercise high credit risk underwriting standards and risk management policies.

The bank also focuses on improving productivity and monitoring collection,” Siddiq said.

LH Financial Group Plc yesterday said the company and its subsidiaries’ boosted net profit by 4.6 per cent to Bt806.7 million, compared with the first quarter of 2018. Dividend income jumped 51.5 per cent and was accompanied by a 69.7 per cent drop in bad debts and doubtful accounts.

Basic earnings per share for the first quarter of 2019 were Bt0.038, an increase of Bt0.002 per share, or up to 5.6 per cent when compared to the first quarter of 2018.

Land and Houses Bank Plc increased its first-quarter net profits by 14.1 per cent from the year-earlier quarter to Bt641.6 million.

At the end of March, the value of loans extended to customers reached Bt186.45 billion, an increased of Bt4.31 billion, for a rise of 2.4 per cent from the end of 2018.

Muangthai Capital shareholders approve Bt15-bn debenture

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367912

Muangthai Capital shareholders approve Bt15-bn debenture

Corporate April 19, 2019 01:00

By The Nation

Hire-purchase and nano-finance firm Muangthai Capital Plc’s shareholders meeting yesterday approved issuing a debenture worth Bt15 billion this year to drive its business growth by up to 35 per cent over last year, company CEO Chuchat Petampai said after the meeting.

He added that its shareholders also approved paying a Bt0.26 per share dividend to shareholders on May 15, 2019.

For 2018 year-end, the company reports total revenue of Bt10.41 billion and a net profit of Bt3.71 billion, up 39.42 per cent and 48.46 per cent respectively from the end of the year 2017.

Dusit, Al Masar agree on upgrade of Dubai Marina residences

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367913

Dusit, Al Masar agree on upgrade of Dubai Marina residences

Corporate April 19, 2019 01:00

By The Nation

Thailand’s hotel and property development firm Dusit International has signed a franchise agreement with Al Masar Hotel Management LLC, to upgrade the former Dusit Residence Dubai Marina as it transforms into the Dusit Princess Residences Dubai Marina.

Located at the Marina, a popular tourist destination and preferred residential area just off the Dubai Technology and Media Free Zone (which includes Dubai Internet City, Dubai Media City and Dubai Knowledge Village), the 146-key property is now being refurbished and will comprise serviced apartments, holiday homes and residential units in a choice of one, two or three-bedroom configurations.

Lim Boon Kwee, chief operating officer for Dusit International, said that the comfort and convenience of the Dusit Princess brand and the property’s prime location make it an attractive proposition for anyone looking for a short- or long-term base in the city, especially with the Dubai Expo 2020 coming up.

Dusit Princess Residences Dubai will be the third Dusit-branded property in Dubai, following Dusit Thani Dubai and dusitD2 Kenz. A fourth Dusit-branded property, Dusit Princess Rijas, is slated to open in 2020.

NTL receives ‘A-’ affirmation from TRIS

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367914

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NTL receives ‘A-’ affirmation from TRIS

Corporate April 19, 2019 01:00

By The Nation

TRIS Rating has affirmed the company rating on Ngern Tid Lor Co Ltd (NTL) and the ratings on NTL’s outstanding senior unsecured debentures at “A-” with a “stable” outlook.

At the same time, TRIS Rating assigns a “A-” rating to NTL’s proposed issue of up to Bt4.9 billion in senior unsecured debentures and the additional greenshoe portion of up to Bt3 billion. The company will use the proceeds from the proposed issues to fund its operation and refinance its existing debts.

The ratings reflect the business and financial support NTL receives from its major shareholder, Bank of Ayudhya PLC (BAY). The ratings on NTL are enhanced from the stand-alone rating based on the company’s status as an important subsidiary of BAY.

PPP board clarifies bid for duty-free shops

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367920

PPP board clarifies  bid for duty-free shops

Corporate April 19, 2019 01:00

By The Nation

The Public Private Partnership’s (PPP) legal sub-committee has reported to the board of the Public Private Committee yesterday that the AOT Plc’s open bid call for the management of duty-free shops at four airports will not be a joint investment under the Public Private Partnership act, AOT Plc’s President Nitinai Sirismatthakarn said after a PPP board meeting yesterday.

He added that the board will forward the legal sub-committee’s report to the Cabinet on April 24. Thereafter, bids will be called for four duty-free shops at Suvarnbhumi International Airport, Chiang Rai International Airport, Phuket International Airport, and Had Yai International Airport.

A meeting will be held on the Term of reference, the sales of which ended yesterday, and bidder qualification on Monday (April 22).

SEC sanction

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367921

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 SEC sanction

Corporate April 19, 2019 01:00

By The Nation

The Securities and Exchange Commission or SEC has imposed civil sanction on eight offenders for using inside information to purchase shares of Polyplex (Thailand) Plc.

As a result, the offenders were subject to pay separate civil penalties and return the benefits acquired from such wrongful act at the total amount of Bt56.69 million.

In addition, five of the six ordinary person offenders were prohibited from holding the positions of director and executive of any securities issuing company and listed company, according to SEC statement release yesterday.

Bangkok Bank reports quarterly profit of Bt9bn

Published April 19, 2019 by SoClaimon

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/detail/Corporate/30367937

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Bangkok Bank reports quarterly profit of Bt9bn

Breaking News April 18, 2019 20:00

By The Nation

Thailand’s economic growth in 2019 is expected to be 3.8 per cent, decreasing from 4.1 per cent in 2018. Amid slower world trade and risks from the US trade policies, exports declinded for the first two months of the year.

This has squeezed manufacturing production of export-oriented sectors, which has led to the fall in overall domestic production activity.

Nevertheless, private consumption continued to expand in line with continuous improvement in farm income. Going forward, although downside risks to Thailand’s economic growth are greater given weaker global economy, public policy continuity, including the implementation of infrastructure projects such as the Eastern Economic Corridor (EEC), will be key to underpinning private sector sentiment.

Moreover, policies to improve household purchasing power, which are likely to be implemented by the incoming government, will, to some extent, provide additional support to domestic consumption.

Bangkok Bank and its subsidiaries reported a net profit attributable to its owners of the Bank of Bt9.028 billion, a slight increase of 0.3 per cent from the first quarter of 2018. Net interest income increased by 6.9 per cent and net interest margin increased from 2.34 per cent to 2.48 per cent. Non-interest income decreased by 28.3 per cent due mainly to declines in gains on investments and net fees and service income. The decrease in net fees and service income was due to the exemption of transaction fees via digital channels and lower fees from loan-related services. Operating expenses declined by 3.1 per cent and the ratio of expense to operating income stood at 42.6 per cent.

At the end of March, the bank’s loans amounted to Bt2.029 trillion, a decrease of 2.6 per cent from the end of 2018 mainly due to the decline in loans to businesses and consumers. The ratio of non-performing loan (NPL) to total loans was 3.5 per cent, while the ratio of loan loss reserves to NPL was 189 per cent.

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