Kasikornbank Public Company (KBANK) Q4 2024 earnings summary

Executive summary

• Net profit for 2024 rose 14.6% YoY to Bt48.6bn, driven by higher fee income and cost management.

• Loan growth was 0.57% YoY, while NIM eased to 3.64%; NIM minus credit costs improved.

• Strategy emphasizes quality growth, productivity, innovation and digital leadership, with double-digit ROE targeted by 2026.

Financial highlights

• 2024 ROE was 8.99%, ROA 1.13%, and cost-to-income ratio 44.09%.

• NPL ratio was 3.18%, coverage ratio 153.27%, and credit cost 189 bps.

• CAR was 20.25% and Tier 1 capital was 18.27%.

• 2025 NIM guidance is 3.3%-3.5%, with credit costs at 140-160 bps and NPL ratio below 3.25%.

• Net fee income is expected to grow at a mid- to high-single-digit rate; cost-to-income ratio target is in the low to mid-40s.

Outlook and guidance

• 2025 loan growth is targeted to remain flat, prioritizing quality and secured lending.

• The 2025 strategy continues to focus on quality growth and execution of the 3+1 strategic priorities.

• Dividend payout policy remains at not less than 25% of consolidated net profit.