Bangkok Bank Public Company (BBL) Q2 2024 earnings summary

Executive summary

• Interim consolidated and bank financial statements for the six months ended June 30, 2024, were audited and present fairly in accordance with Thai Financial Reporting Standards and Bank of Thailand regulations.

• Key audit matter was the allowance for expected credit loss (ECL) on loans, requiring significant management judgment and complex modeling under TFRS 9.

Financial highlights

• Consolidated net profit for the six months ended June 30, 2024, was Baht 22,544 million, up from Baht 21,647 million year-over-year.

• Total consolidated assets as of June 30, 2024, were Baht 4,530,171 million, up from Baht 4,514,484 million at year-end 2023.

• Net interest income for the six months was Baht 66,556 million, up from Baht 61,565 million year-over-year.

• Expected credit loss for the six months was Baht 19,007 million, compared to Baht 17,354 million year-over-year.

• Basic earnings per share for the six months was Baht 11.70, up from Baht 11.22 year-over-year.

Outlook and guidance

• The bank continues to comply with all capital adequacy requirements and maintains a strong capital position.

• No material uncertainties were identified that would cast significant doubt on the bank's ability to continue as a going concern.