Post by account_disabled on Feb 25, 2024 15:17:41 GMT 10
Kasikorn Bank Announcement of operating results for 2020, profit of 29,487 million baht Miss Khattiya Inthawichai, Chief Executive Officer Kasikorn Bank revealed that the overall Thai economy in 2020 shrank amid the COVID-19 outbreak situation. Both inside and abroad This has a wide-ranging impact on domestic spending. Including the merchandise export and tourism sectors. For 2021, the Thai economy still faces many risk factors. Especially the new wave of COVID-19 outbreak, which makes it estimated that The path to recovery of economic activity remains uncertain. And most of the support still comes from government spending and investment.
Since January 1, 2020, the Bank and its subsidiaries have British Student Phone Number List complied with financial reporting standards regarding financial instruments (including TFRS 9), resulting in certain financial statements and financial ratios not being comparable with the previous year. The Bank and its subsidiaries have a net profit for 2020 of 29,487 million baht and a net profit for the 4th quarter of 2020 of 13,258 million baht. The Bank and its subsidiaries had a net profit for 2020 of 29,487 million baht, a decrease of 9,240 million baht or 23.86% from the previous year, mainly due to the Bank and its subsidiaries using the principle of continued caution in considering reserves for financial losses. Expected credit loss (ECL) increased from last year by 9,536 million baht or 28.04%, which was a reserve set up since the first half of the year totaling 32,064 million baht due to a high level of uncertainty.
From the COVID-19 outbreak situation that has severe impacts both at home and abroad This is a crisis that has never occurred in this way before. Including the impact that may occur from government measures that allow financial institutions to provide assistance to customers. However, even in the second half of the year, the measures to help customers gradually ended. Customers can also pay installments better than expected. Including at the end of the 4th quarter, there was an outbreak of COVID-19. new wave The bank has reviewed and assessed the adequacy of reserves. It was found that the reserve In the past three quarters, it has been at an adequate level. The Bank therefore considered setting reserves in the 4th quarter at a lower level compared to the third quarter of the year. When including reserves in 2020, there is a total of 43,548 million baht, which is considered a level that can appropriately support various damages that may occur.
Since January 1, 2020, the Bank and its subsidiaries have British Student Phone Number List complied with financial reporting standards regarding financial instruments (including TFRS 9), resulting in certain financial statements and financial ratios not being comparable with the previous year. The Bank and its subsidiaries have a net profit for 2020 of 29,487 million baht and a net profit for the 4th quarter of 2020 of 13,258 million baht. The Bank and its subsidiaries had a net profit for 2020 of 29,487 million baht, a decrease of 9,240 million baht or 23.86% from the previous year, mainly due to the Bank and its subsidiaries using the principle of continued caution in considering reserves for financial losses. Expected credit loss (ECL) increased from last year by 9,536 million baht or 28.04%, which was a reserve set up since the first half of the year totaling 32,064 million baht due to a high level of uncertainty.
From the COVID-19 outbreak situation that has severe impacts both at home and abroad This is a crisis that has never occurred in this way before. Including the impact that may occur from government measures that allow financial institutions to provide assistance to customers. However, even in the second half of the year, the measures to help customers gradually ended. Customers can also pay installments better than expected. Including at the end of the 4th quarter, there was an outbreak of COVID-19. new wave The bank has reviewed and assessed the adequacy of reserves. It was found that the reserve In the past three quarters, it has been at an adequate level. The Bank therefore considered setting reserves in the 4th quarter at a lower level compared to the third quarter of the year. When including reserves in 2020, there is a total of 43,548 million baht, which is considered a level that can appropriately support various damages that may occur.