Krungsri reports 9-month net profit of 24.61 billion baht, underscoring selective growth strategy and risk management rigor

Bangkok (20 October 2025) – Krungsri (Bank of Ayudhya PCL and its business units) posts 24,612 million baht in net profit for the first nine months of 2025, a 5.1% increase from the same period last year, primarily attributed to lower expected credit loss (ECL) and a one-time gain associated with Tidlor Holdings Plc (TIDLOR) investment remeasurement, while being partially offset by a decline in net interest income, corresponding to multiple policy rate cuts and sluggish loan growth.

Amid intensifying economic challenges which contributed to muted credit demand, Krungsri’s increase of equity stake in TIDLOR, from 30.18% to 46.51%, in the third quarter of 2025 reinforces its medium- and long-term strategic focus on financial inclusion and capturing growth opportunities within underserved retail and SME segments.

Highlights of Krungsri’s consolidated 9M/25 performance:

• Net profit: Recorded at 24,612 million baht for 9M/25, representing an increase of 5.1%, or 1,188 million baht from 9M/24, primarily attributed to lower expected credit loss (ECL) and a one-time gain associated with TIDLOR investment remeasurement, while being partially offset by a decline in net interest income, corresponding to multiple policy rate cuts and muted loan demand year-to-date as well as an increase in operating expenses.
• Loans: Increased by 2.7%, or 51,384 million baht, from the end of December 2024, mainly driven by retail loans from the TIDLOR consolidation together with an expansion in corporate loans, while being partially offset by a contraction in SME loans.
• Deposits: Decreased by 5.7%, or 104,602 million baht from the end of December 2024, primarily due to a decrease in time deposits, underlining our proactive effort to optimize funding cost amid tepid credit conditions.
• Net interest margin (NIM): Recorded at 4.28%, compared with 4.33% in 9M/24, corresponding to multiple policy rate cuts.
• Non-interest income: Increased by 15.8%, or 5,294 million baht from 9M/24, mainly due to one-time gain associated with the TIDLOR transaction, gains on financial instruments measured at fair value (FVTPL) and bad debt recovery.
• Cost to income ratio: Recorded at 46.4%.
• Non-performing loan (NPL) ratio: Remained manageable at 3.49%. Meanwhile, the credit cost improved to 215 basis points, from 245 basis points in 9M/24. The coverage ratio was recorded at 123.1%.
• Capital adequacy ratio (Bank only): Recorded at 20.23%, compared with 19.38% at the end of December 2024.

Krungsri President and Chief Executive Officer Mr. Kenichi Yamato, said “Krungsri remained steadfast in executing our strategic priorities for the year, with a continued emphasis on managing funding costs, enhancing operational efficiency, and maintaining a prudent approach to risk management. In parallel, the Bank reinforced our medium- and long-term strategic focus on financial inclusion and capitalizing on growth opportunities within underserved retail and SME segments. A key milestone in this regard was the increase of Krungsri’s equity stake in Tidlor Holdings Public Company Limited, further solidifying our position as a major shareholder.”

Commenting on the economic outlook, Mr. Yamato cited that “During the second half of 2025, the Thai economy has faced increasing pressure, driven by both direct and indirect impacts of U.S. trade policies, a sluggish recovery in the tourism sector, and subdued domestic demand. However, a modest rebound is expected in the fourth quarter, supported by improved political stability and the implementation of government stimulus measures aimed at boosting household consumption and domestic tourism activity. In light of these developments, Krungsri maintains our GDP growth forecast for 2025 at 2.1%.”

As of 30 September 2025, Krungsri, Thailand’s fifth largest bank in terms of assets, loans and deposits, and one of Thailand’s Domestic Systemically Important Banks (D-SIBs), reported 1.95 trillion baht in loans, 1.72 trillion baht in deposits, and 2.59 trillion baht in total assets. Krungsri’s capital (Bank only) was strong at 336.98 billion baht, equivalent to 20.23% of risk-weighted assets, with 16.02% in common equity tier 1 capital.