Kasikornbank, one of Thailand's largest commercial lenders, reported a net profit of THB 27,915 million for the first half of 2026, up 6.22% from the same period a year earlier, according to results the bank announced on Tuesday.
For the second quarter alone, net profit came in at THB 13,247 million, a decline of 9.68% from the first quarter of the year. The sequential fall largely reflects one-off compensation income from an investment of THB 1,455 million booked in the first quarter; adjusted for one-off items, the quarter-on-quarter decline was 0.98%.
HALF-YEAR GROWTH DESPITE Q2 SLIP
Excluding the one-off item, first-half net profit rose 1.25% year on year to THB 26,609 million, while net interest income fell 9.55% to THB 63,390 million, mainly due to the downward trend in interest rates and the bank's own rate reductions for customers, partly offset by higher non-interest income from wealth management, insurance and investments.
MANAGEMENT LOOKS TO SECOND HALF
Looking ahead, the bank said the Thai economy is expected to improve in the second half of 2026 compared with the second quarter, helped by additional government measures, although growth for the year is still expected to slow from 2025.
In the first half, non-interest income rose on wealth management services, improved insurance service results and investment income, the bank said, while net interest margin was 2.91%, compared with 3.36% a year earlier.
The results were published on the bank's website on 21 July. The bank reported a gross NPL ratio of 3.18%, a coverage ratio of 173.90% and a capital adequacy ratio of 19.24% at the end of June.
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