Kasikornbank Public Company (KBANK) Q3 2025 earnings summary

Executive summary

• Maintained strong market position with 16.43% asset market share and 16.26% loan market share as of August 2025.

• Net profit for Q3 2025 was ฿13,007 million, up 4.16% from Q2 2025; nine-month net profit was ฿39,287 million, up 1.16% year-over-year.

• Focused on disciplined execution of strategic priorities, prudent risk management, and sustainable shareholder returns.

• Continued to deliver resilient performance despite macroeconomic headwinds, maintaining a double-digit ROE target.

• Non-interest income grew 8.20% quarter-over-quarter and 13.80% year-over-year, driven by higher fees and investment gains.

Financial highlights

• Total assets reached Bt4,437bn (USD137.4bn), loans Bt2,416bn (USD74.8bn), and deposits Bt2,744bn (USD85.0bn) as of September 2025.

• 9M25 net interest margin (NIM) was 3.31%, with Q3 2025 NIM at 3.24%, reflecting a year-over-year decline.

• Net fee income grew 4% YoY in 9M25, led by mutual fund fees and payment services.

• Cost-to-income ratio was 42.07% in 9M25 and improved to 42.57% in Q3 2025.

• NPL ratio stood at 3.19% in 9M25, with a coverage ratio of 166%.

Outlook and guidance

• 2025 GDP growth forecast for Thailand revised to 1.8%, with continued export support but weak tourism.

• 2025 NIM target set at 3.3-3.5%, with flat loan growth and mid to high single-digit net fee income growth.

• Credit cost guidance at 140-160 bps, with NPL ratio expected to remain below 3.25%.

• Dividend payout policy maintained at ≥50%, aiming for 50-60% in the medium term.

• The bank continues to focus on prudent operations, productivity, and supporting customers amid economic uncertainty.