The bank’s unaudited financial statement for the second quarter of this year shows net interest income amounted to 2.2bn/- during the first half of this year, compared with 2.07bn/- during similar period of last year, while interest expenses decreased to 783mn/- compared to 814m/- respectively.
Non-interest income increased to 717mn/- compared to 499mn/- respectively due to increase in fees and commission and foreign exchange dealing and transactions. However, non-interest expenses went up to 2.2bn/- compared with 2.05bn/- due to other operating expenses.
Operating profit increased to 730mn/- during the first half of this year, compared to 516mn/- while income tax provision amounted to 168mn/- compared with 90mn/- respectively.
Number of employees remained flat at 49 during the reported period, while number of branches also remained unchanged at two.
According to unaudited financial statement, total assets reached 50.2bn/- during the second quarter of this year, compared to 48.5bn/- during the first quarter of this year due to increased lending, other assets, amid decreased cash, balance with BoT and balance with other banks and financial institutions.
The bank’s lending to various sectors of the economy increased to 35.7bn/- during the second quarter, compared with 32.6bn/- during the first quarter of this year, while total liabilities amounted to 37.7bn/- against 36.3bn/- respectively, which translated into a capital of 12.5bn/- in Q2, 2023 from 12bn/- in Q1, 2023.
The statement shows the bank recorded the lowest non-interest income of 4.95 percent during the second quarter of this year, lower than regulatory benchmark of 5 percent, compared with 7.48 percent recorded during the first quarter of this year.
NPL provision slowed to 1.8bn/- during the second quarter from 2.4bn/- in the first quarter, this year.
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