Kasikornbank's net profit seen to jump 18% to THB10.9b

Loans predicted to expand 2.9%.

Maybank Kim Eng projects a 3Q13F net profit for Kasikornbank PCL of THB10.9b, which is flat QoQ, but up 18% YoY. Loans will expand 2.9% QoQ (+7.8% YTD) with growth seen in all segments with corporate being the best
performer.

Here's more from Maybank:

The NIM is likely to be sustained from last quarter and fee and Non-NII will keep the growth momentum strong. Opex has increased and we expect 1% QoQ and 18% YoY growth in PPOP.

However, KBANK has decided to raise credit costs to 85bps in order to capture the higher risk on the
Thai economic outlook.

However, NPLs should be sustained at 2.0%. We project a 3Q13F net profit of THB10.9b, which is flat QoQ, but up 18% YoY.

Loans will expand 2.9% QoQ (+7.8% YTD) with growth seen in all segments with corporate being the best performer.

The NIM is likely to be sustained from last quarter and fee and Non-NII will keep the growth momentum strong. Opex has increased and we expect 1% QoQ and 18% YoY growth in PPOP.

However, KBANK has decided to raise credit costs to 85bps in order to capture the higher risk on the Thai economic outlook. However, NPLs should be sustained at 2.0%.