Mitihoon – Ms. Kattiya Indaravijaya, Chief Executive Officer of KASIKORNBANK, said the third quarter of 2025, Thailand’s economy grew at a slower rate compared to the first half of the year, weighed down by a decline in exports resulting from US import tariff measures and weaker economic conditions among trading partners, posing greater challenges for Thai businesses. Meanwhile, the number of international tourist arrivals in Thailand remained below the level recorded during the same period of last year, while private consumption continued to slow down due to the persistently high household debt and weaker consumer confidence. For the rest of 2025, it is expected that the Thai economy will grow at a slower rate than in previous periods. Key contributing factors include the US tariff increases, which have significantly affected the export sector, along with the continued sluggishness in private investment sentiment, and ongoing challenges in the tourism sector arising from intense competition and lingering confidence concerns, which have hindered a full recovery of key tourist markets. Additionally, government stimulus spending is expected to be limited, with only partial effects likely to materialize within this year. As a result, both the domestic and global economic outlook may continue to face multiple uncertainties and challenges going into 2026.
Amidst the challenges posed by both domestic and international economic factors, KASIKORNBANK and its subsidiaries have continued to operate prudently, through the execution of K-Strategy 3+1 and continuous focus on productivity improvement. These efforts aim to deliver sustainable value to all stakeholders including depositors, investors, individual and business customers and to deliver sustainable returns to shareholders, while fully supporting government initiatives to assist customers in a highly uncertain economic environment.
Operating performance for the nine-month of 2025 compared with the restated performance for the nine-month of 2024, the Bank and its subsidiaries reported operating profit before expected credit loss and income tax expense of Baht 85,127 million, a decrease of Baht 2,456 million or 2.80%, due to a decline in net operating income. Net interest income of Baht 104,239 million, a decrease of Baht 7,768 million or 6.94%, in line with interest rate conditions, including loans interest rate reductions to enhance customers’ financial flexibility and a decline in loans volume. This resulted in a decrease in net interest margin (NIM) to 3.31%. However, non – interest income of Baht 42,709 million, an increase of Baht 5,178 million or 13.80%, mainly due to: 1) growth in net fees and service income reflecting ability to deliver services that effectively meet customer needs, along with improved market conditions; 2) gains on financial instrument measured at fair value through profit or loss; and 3) investment income supported by favorable market conditions. Other operating expenses of Baht 61,821 million, a decrease of Baht 134 million or 0.22%, reflecting continued productivity improvements in a highly uncertain economic conditions. Cost to income ratio stood at 42.07%. Additionally, the Bank and its subsidiaries set aside expected credit loss (ECL) of Baht 30,047 million, a decrease of Baht 4,962 million or 14.17%. Consistent with established practice, ECL is prudently set aside to maintain an appropriate level aligned with the volatile and challenging economic environment. As a result, net profit attributable to equity holders of the Bank for the nine-month of 2025 was Baht 39,287 million, a slight increase of Baht 452 million or 1.16% from the same period of 2024.
Operating performance for the third quarter of 2025 compared with the previous quarter, the Bank and its subsidiaries reported operating profit before expected credit loss and income tax expense of Baht 28,280 million, a slight increase of Baht 484 million or 1.74%, mainly due to net operating income of Baht 49,246 million, an increase of Baht 647 million or 1.33%. This was primarily driven by growth in net fees and service income from fund management that met customer needs and increased investment income, although net interest income of Baht 34,158 million, a decrease of Baht 497 million or 1.43% from the previous quarter. Other operating expenses of Baht 20,966 million, a slight increase of Baht 163 million or 0.78%, and remained comparable to the same quarter last year, despite additional special project expenses to support employees. The Bank and its subsidiaries continued to implement productivity measures, resulting in cost to income ratio of 42.57%, decrease from 42.81% in the previous quarter. Furthermore, the Bank and its subsidiaries prudently set aside ECL of Baht 10,179 million, an increase of Baht 129 million or 1.29% from the previous quarter, to maintain an appropriate ECL to support the continued uncertainties economic slowdown and the future outlook which remains challenged by high volatility both domestically and internationally. Consequently, net profit attributable to equity holders of the Bank in the third quarter of 2025 was Baht 13,007 million, an increase of Baht 519 million or 4.16% from the previous quarter.
As of 30 September 2025, the Bank and its subsidiaries’ total assets were Baht 4,436,648 million, an increase of Baht 95,694 million or 2.20% compared with the restated total assets as of 31 December 2024. Most of the increase came from net investments which was investment based on expectation of market conditions and interest rate trend. However, net loans decreased in line with economic conditions. The Bank remains focused on quality loans expansion, emphasizing asset quality and optimizing risk-adjusted returns. NPL gross to total loans stood at 3.19%, requiring careful monitoring of asset quality amid economic uncertainties and coverage ratio increased to 166.43%. As of 30 September 2025, KASIKORNBANK FINANCIAL CONGLOMERATE’s capital adequacy Ratio (CAR) according to the Basel III Accord remained strong at 21.60%.
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