Post by account_disabled on Feb 25, 2024 5:28:51 GMT
Krungsri reports 2020 net profit of 23,040 million baht with strong reserves. Krungsri (Bank of Ayudhya Public Company Limited and its subsidiaries) reported operating results in 2020 with a net profit of 23,040 million baht, a decrease of 14.5% compared to net profit from normal operations in 2019. This is a result of setting up additional reserves to accommodate uncertainties that may arise from the COVID-19 situation. A new wave returned last December. and economic fragility Krungsri continues to maintain strong asset quality. With the non-performing loan ratio (NPL Ratio) remaining low at 2.00% and the reserve-to-non-performing loan ratio at a record high of 175.12%. Amidst the challenging economic conditions of the past year Krungsri continues to push forward its strategic plan in 4 areas: enhancing customer experience through development processes using digital technology (Customer Experience Enhancement), driving business with data-driven capabilities (Data-Driven Capabilities), and cooperation strategy with partners (Partnership).
Strategy) and business expansion to foreign countries (Overseas Business Expansion), which British Student Phone Number List Krungsri was able to follow the plan to achieve the goals set very well. This can be seen from the success of Hattha sekar Ltd., a microfinance company of the Krungsri Group in Cambodia, in upgrading to a commercial bank, Hattha Bank Plc., and Krungsri's success in expanding its business base to the ASEAN region by acquiring 50% of shares in SB Finance Company, Inc. (SBF), a subsidiary of Security Bank Corporation (SBC), one of the leading banks in the Republic of the Philippines. Investing and building a business alliance with Grab, the success of the launch of 'Kept', an innovation in money management via online channels that has received a high response from the target group, etc. Krungsri has also adjusted its proactive action plan to cope. with the COVID-19 crisis and economic uncertainty in an appropriate and timely manner in the second half of the year.
By focusing on measures to help all customer groups continuously Maintain asset quality and control costs effectively Summary of important operating results and financial positions for 2020 Net profit: amounted to 23,040 million baht, a decrease of 14.5% compared to net profit from normal operations in 2019, resulting from an increase in reserves. Loans: increased by 0.8% or 15,058 million baht from the end of December 2019, with retail loans and loans for SME customers grew by 2.2% and 2.0%, respectively, while loans for large businesses decreased by 1.5%, mainly due to loan repayments by Thai corporations. Deposits: totaled 1,834,505 million baht, an increase of 17.1% or 267,620 million baht from the end of December 2019, mainly as a result of an increase in savings deposits.
Strategy) and business expansion to foreign countries (Overseas Business Expansion), which British Student Phone Number List Krungsri was able to follow the plan to achieve the goals set very well. This can be seen from the success of Hattha sekar Ltd., a microfinance company of the Krungsri Group in Cambodia, in upgrading to a commercial bank, Hattha Bank Plc., and Krungsri's success in expanding its business base to the ASEAN region by acquiring 50% of shares in SB Finance Company, Inc. (SBF), a subsidiary of Security Bank Corporation (SBC), one of the leading banks in the Republic of the Philippines. Investing and building a business alliance with Grab, the success of the launch of 'Kept', an innovation in money management via online channels that has received a high response from the target group, etc. Krungsri has also adjusted its proactive action plan to cope. with the COVID-19 crisis and economic uncertainty in an appropriate and timely manner in the second half of the year.
By focusing on measures to help all customer groups continuously Maintain asset quality and control costs effectively Summary of important operating results and financial positions for 2020 Net profit: amounted to 23,040 million baht, a decrease of 14.5% compared to net profit from normal operations in 2019, resulting from an increase in reserves. Loans: increased by 0.8% or 15,058 million baht from the end of December 2019, with retail loans and loans for SME customers grew by 2.2% and 2.0%, respectively, while loans for large businesses decreased by 1.5%, mainly due to loan repayments by Thai corporations. Deposits: totaled 1,834,505 million baht, an increase of 17.1% or 267,620 million baht from the end of December 2019, mainly as a result of an increase in savings deposits.