Mr. Wut Thanittiraporn, President and Chief Executive Officer, CIMB Thai Bank PCL (CIMB Thai) announced an unreviewed consolidated financial performance for the three months ended 31 March 2026. CIMB Thai Group recorded a consolidated net profit of THB 908.2 million, an increase of THB 70.1 million or 8.4% year-on-year (“YoY”) compared to 3M2025. The improvement was mainly attributed to a 0.6% decline in operating expenses and a 21.1% decrease in expected credit losses, offsetting the 3.1% decline in operating income.
On a YoY basis, operating income declined THB 110.6 million, or 3.1% to THB 3,473.3 million attributed to the contraction in net interest income of THB 156.8 million or 7.1% due to lower asset yields in line with the prevailing low interest rate environment. Net fee and service income dropped THB 82.2 million or 22.7% from lower insurance brokerage income and underwriting fee. This was partially offset by the increase in other operating income of THB 128.4 million or 12.6% due to gains on investments.
Operating expenses decreased THB 9.4 million or 0.6%, largely due to lower employee expenses, partially offset by higher impairment loss on properties foreclosed. The cost to income ratio stood at 48.9% in 3M2026 compared to 47.6% in 3M2025.
Net interest margin (NIM) over earning assets stood at 1.96% in 3M2026, slightly lower than the 2.04% in 3M2025, primarily due to policy rate cuts leading to asset yield compression. This was further pressured by loan contraction, though partly offset by lower funding costs.
As at 31 March 2026, total gross loans (inclusive of loans guaranteed by other banks and loans to financial institutions) stood at THB 236.6 billion, an increase of 1.6% from 31 December 2025. Deposits (inclusive of bill of exchanges, debentures and selected structured deposit products) stood at THB 286.9 billion, a decrease of 4.8% from THB 301.5 billion as at end of December 2025. The modified loan to deposit ratio was slightly higher at 82.5% compared to 77.2% as at 31 December 2025.
Gross non-performing loans (“NPL”) stood at THB 5.0 billion, with a lower gross NPL ratio of 2.1% from 2.2% as at 31 December 2025. The improvement in the gross NPL ratio is reflective of CIMB Thai group’s stringent credit risk underwriting, effective risk management policies, improvement in loan collection processes and the continued management of the Bank’s NPLs.
CIMB Thai Group’s loan loss coverage ratio as at 31 March 2026 stood at 178.0% from 171.5% at the end of December 2025. Total allowance for expected credit losses stood at THB 8.8 billion, THB 1.5 billion above the Bank of Thailand’s reserve requirements.
Total consolidated capital funds as at 31 March 2026 stood at THB 58.6 billion. The BIS ratio stood at 19.6%, of which 15.2% comprised Tier-1-capital.
“CIMB Thai continues to make steady progress in executing CIMB Group’s Forward30 strategy, with a clear focus on strengthening our balance sheet, enhancing deposit franchise and driving quality growth. Despite a more uncertain operating environment, we remain committed to delivering resilient returns through deeper customer engagement, increased cross-sell across our core segments and continued discipline in risk management. As part of CIMB Group’s ASEAN network, CIMB Thai is well-positioned to capture regional flows and support our customers’ evolving needs, in line with our purpose of Advancing Customers and Society,” concluded Mr Wut.
