Ms. Kattiya Indaravijaya, Chief Executive Officer of KASIKORNBANK, said in the third quarter of 2026, the Thai economy was supported by government stimulus measures, although the recovery remained uneven (K-shaped recovery). Economic activities linked to the AI (Artificial Intelligence) cycle continued to be key growth drivers, particularly electronics exports and investment in the digital economy and electronics sector. Meanwhile, the tourism sector had yet to fully recover, while households continued to face pressure from high cost of living and elevated debt burdens. Looking into the final quarter of 2026, continued government measures to stimulate consumption are expected to provide some support to economic activity. However, their positive impact on Thailand’s overall economic growth in 2026 is likely to remain limited, as tighter fiscal constraints have reduced the government’s capacity to introduce additional stimulus measures compared with previous periods. Meanwhile, household purchasing power remains fragile and faces additional pressure from the impact of flooding. Furthermore, persistent uncertainty in the Middle East continues to keep global energy prices and other production costs elevated.
KASIKORNBANK continues to operate the business through the execution of K-Strategy 3+1 and Productivity, while strengthening its “Customer Strategy”, with a focus on being a trusted bank that stands ready to support our customers in navigating challenges amid heightened economic uncertainty. The Bank continues to closely monitor and assess the situation while fully supporting government policies aimed at fostering sustainable growth. The Bank remains committed to delivering sustainable value to all stakeholders and generating stable long-term returns for shareholders.
Operating performance for the third quarter of 2026 compared with the second quarter of 2026: the Bank and its subsidiaries reported net profit attributable to equity holders of the Bank of Baht 12,720 million, a decrease of Baht 527 million or 3.98%. This was partly attributable to a decrease in non-interest income related to financial instruments amid market volatility, as well as a decrease in net fees and service income amounted to Baht 9,841 million, a decrease of Baht 550 million or 5.29%, reflecting market conditions during the quarter and the impact of new standardized fee regulations. Net interest income amounted to Baht 31,602 million, broadly in line with the previous quarter. Meanwhile, other operating expenses amounted to Baht 19,892 million, a decrease of Baht 858 million or 4.14%, reflecting the continued implementation of the Bank and its subsidiaries’ Productivity Strategy to enhance operational efficiency. The cost to income ratio stood at 41.75%. In addition, the Bank and its subsidiaries continued to prudently set aside expected credit loss (ECL) of Baht 10,329 million, an increase of Baht 310 million or 3.09% from previous quarter. As a result, coverage ratio increased to 177.90% from 173.90% in the previous quarter, providing an additional buffer against ongoing economic uncertainties and future challenges arising from heightened volatility both domestically and internationally, which require close monitoring.
Operating performance for the nine-month period of 2026 compared with the nine-month period of 2025: the Bank and its subsidiaries reported net profit attributable to equity holders of the Bank of Baht 40,635 million, an increase of Baht 1,348 million or 3.43%. Excluding one-off compensation income from investment of Baht 1,455 million, net profit attributable to equity holders of the Bank would have been Baht 39,311 million, close to the level recorded in the same period of the previous year.
Net interest income amounted to Baht 94,992 million, a decrease of Baht 9,247 million or 8.87%, due to the downward trend in interest rates. The decrease was also partly attributable to the Bank’s interest rate reductions to help enhance customers’ liquidity and lower their financial burden. As a result, the net interest margin (NIM) stood at 2.89%. Nevertheless, the decrease in net interest income was substantially offset by an increase in non-interest income, which amounted to Baht 51,894 million, an increase of Baht 9,185 million or 21.51%. The increase was mainly attributable to income from wealth and fund management services, investment income and insurance services, reflecting the provision of more comprehensive financial solutions tailored to customers’ needs.
Other operating expenses amounted to Baht 59,922 million, a decrease of Baht 1,899 million or 3.07%, while the cost to income ratio stood at 40.79%. The Bank continued to enhance operational efficiency through its productivity initiatives across multiple dimensions, including human resource management, process improvement, and the application of technology, including AI (Artificial Intelligence), to support operations and strengthen the Bank’s long-term capabilities. However, other operating expenses are expected to rise in the final quarter of the year, due to seasonal business spending patterns.
In addition, the Bank and its subsidiaries set aside expected credit loss (ECL) of Baht 30,171 million based on a prudent approach to maintain an appropriate level of reserves, to support various uncertainties. The credit cost ratio stood at 1.60%, in line with the Bank’s 2026 financial target of 1.40% to 1.60%, as disclosed to the Stock Exchange of Thailand.
As of 30 September 2026, the Bank and its subsidiaries’ total assets were Baht 4,614,386 million, a slight increase of Baht 55,768 million or 1.22% compared with 31 December 2025. The increase was mainly attributable to an increase in net loans, driven by growth in corporate business loans, reflecting the Bank’s strategic focus on quality loan growth through prudent credit assessment and appropriate risk-adjusted returns, as well as an increase in net investments based on expectations regarding market conditions and interest rate trends. Meanwhile, net interbank and money market items decreased as a result of KBank’s liquidity management. NPL gross to total loans stood at 3.18%, requiring close monitoring of asset quality amid persistent economic uncertainties and increasing risks. Coverage ratio increased to 177.90%. As of 30 September 2026, KASIKORNBANK FINANCIAL CONGLOMERATE’s capital adequacy ratio (CAR) according to the Basel III Accord remained strong at 19.77%.
Symbol: KBANK