Kasikornbank reported a net profit of 21.68 billion baht for the first half of this year, up 13.18% year-on-year, mainly on reduced default provisions.
Bank president Pipit Aneaknithi said on Friday that operating profit before impairment loss on loans and debt securities, and income tax, approximated that in the same period of 2017.
Net interest income increased by 1.63 billion (3.51%) mainly due to interest income from repurchase agreement transactions and loans to customers.
The net interest margin stood at 3.40%. Non-interest income decreased by 134 million baht (0.43%) due mostly to a decrease in net premiums earned and waived fees for money transfers through digital channels. The bank's cost to income ratio stood at 41.13%.
In the second quarter of this year, the country's third largest bank and its subsidiaries reported a net profit of 10.92 billion baht, a slight increase of 1.40% over the previous quarter.
As of June 30, KBank and its subsidiaries' total assets were 3.02 trillion baht, rising by 4.29% over the end of 2017. The majority came from an increase in investment and loans.
Non-performing loans gross to total loans stood at 3.29%, compared with 3.30% at the end of 2017.