Stocks and Financial Services Press Releases Wednesday April 10, 2019 15:15
Bangkok–10 Apr–Bangkok Bank
Bangkok Bank was awarded “Bank of the Year 2019” by Money & Banking magazine for its outstanding performance and profitable growth. It is the 11th time the Bank has won the award in the past 13 years. The Bank’s net profit in 2018 was the third-highest among Thai banks at Baht 35.3 billion, representing the highest net profit of Baht 18.51 per share. In addition to its high profitability, Bangkok Bank was recognized for its prudent and steady approach in allocating reserves for doubtful accounts. Its total loan loss reserves in 2018 amounted to Baht 147.5 billion, or 7.08% of total loans, which was also the highest amount among Thai banks. According to the Bank for International Standards, Bangkok Bank has a total capital adequacy ratio of 17.96%, comprising Tier-1 capital of 16.43% and Tier-2 capital of 1.53%. The Bank’s business has been guided by the philosophy of aspiring to be a trusted partner and reliable close friend. This emphasizes the value Bangkok Bank places on partnership, and developing long-term, trusted partnerships with its customers, sustaining relationships over decades and across generations. The Bank stays close to all its customers to anticipate their needs and provide them with appropriate advice and support, so they can adapt to changing circumstances.