Kasikornbank has reported a 12% jump in 2018 profit on higher interest income, loan growth and better asset quality.
The country's third-largest lender net profit last year stood at 38.4 billion baht, slightly above an estimate of 38.3 billion baht based on a Refinitiv poll of 24 analysts.
Loans grew 6.1% and allowances for doubtful accounts in 2018 were 15.4% lower than the previous year. Net interest income grew by 4.6% to 98.5 billion baht.
Bank earnings have been under pressure by a money transfer fee waiver, with KBank's non-interest income slipping 9.1%. Rival Siam Commercial Bank saw annual profits drop 7% on weak fee income.
KBank's cost-to-income ratio rose slightly to nearly 44% as it competes with rivals to invest in new digital services.
Last year, KBank, which has 15 million digital users, announced a $50-million investment the ride-sharing app, Grab, to offer electronic payments. The lender also established a joint venture with Japanese chat-operator, Line Corp, to expand digital services.
KBANK shares fell 0.54% to 183.50 in trade worth 1.3 billion baht compared to a 0.27% rise of the main Stock Exchange of Thailand index at 11.18am on Friday.