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Finance

Kasikornbank Public Co. Ltd.

Company Background

Kasikornbank is Thailand's fourth largest bank by assets. In 2003, it changed its former English name Thai Farmers Bank to the current name which is the same sound as the Thai name. It has over 1,000 branches nationwide and some overseas branches mainly in China. Eyeing the start of the Asean Economic Community in 2015, it is planning to expand into neighboring Asean countries such as Laos, Cambodia and Myanmar.

The bank was established in 1945 by ethnic Chinese Choti Lamsam as a small bank in Bangkok and went public in 1976. Expansion was backed by a strong customer base of farmers. It has the largest portfolio of loans to small and midsize enterprises among the country's four big banks.

Current Chairman Banthoon Lamsam is the grandson of founder Choti. In 2009, the bank increased its stake in Muang Thai Group Holding, a privately held insurance company that was founded by another member of the Lamsam family, to 51% and is cooperating in sales of insurance at its bank branches.

Business Summary

Kasikornbank Public Co. Ltd. engages in the commercial banking, securities, and other related businesses. It operates through the following segments: Corporate Business, Retail Business, Treasury and Capital Markets Business, Muang Thai Group Holding Businesses, and Others. The Corporate Business segment provides financial products and services to the high net worth individuals, government and state enterprises, and financial institutions. The Retail Business segment consists of individual customers who use deposit account, debit and credit card, personal and housing loan, investment product and financial advisory services, and transactional banking services. The Treasury and Capital Markets Business segment comprises of capital markets and treasury business and supervises bank's business in overseas countries. The Muang Thai Group Holding Business segment includes a group of companies that operates insurance and brokerage businesses. The Others segment deals with the other items which are not directly attributable to the main business groups. The company was founded by Choti Lamsam on June 8, 1945 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2022 THBUSD
Revenue276,224M7,875.63M
Gross Profit----
Operating income46,470M1,324.94M
Income before tax46,470M1,324.94M
Net income35,770M1,019.86M
EBITDA----
Diluted EPS----
Dividends Per Share----
Total Assets4,246.36B122,603.41M
Total liabilities3,485.30B100,629.42M
Total equity503,270M14,530.67M
Operating cash flow----
Currency in THBCurrency in USD

Historical Data

 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 281,787.77M 282,430.09M 260,929.76M 267,408.78M 276,224M
Gross Profit -- -- -- -- --
Operating income 54,556.95M 57,160.13M 42,486.16M 52,667.18M 46,470M
Income before tax 54,553.28M 53,706.13M 41,540.16M 52,667.18M 46,470M
Net income 38,459.11M 38,726.74M 29,487.11M 38,052.72M 35,770M
EBITDA -- -- -- -- --
Diluted EPS 16.06 16.18 12.42 16.06 --
Dividends Per Share 4 5 2.50 3.25 --
Total Assets 3,155.09B 3,293.88B 3,658.79B 4,103.39B 4,246.36B
Total liabilities 2,737.26B 2,840.17B 3,183.06B 3,582.27B 3,485.30B
Total equity 376,297.55M 406,357.61M 424,120.45M 461,164.53M 503,270M
Operating cash flow 145,453.82M 119,551.13M 108,389.67M 114,826.15M --
 Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022
Revenue 8,716.72M 9,097.50M 8,337.70M 8,352.28M 7,875.63M
Gross Profit -- -- -- -- --
Operating income 1,687.64M 1,841.21M 1,357.59M 1,645.01M 1,324.94M
Income before tax 1,687.53M 1,729.95M 1,327.36M 1,645.01M 1,324.94M
Net income 1,189.68M 1,247.44M 942.22M 1,188.54M 1,019.86M
EBITDA -- -- -- -- --
Diluted EPS 0.49 0.52 0.39 0.50 --
Dividends Per Share 0.12 0.16 0.07 0.10 --
Total Assets 96,900.82M 109,965.82M 122,122.75M 122,837.85M 122,603.41M
Total liabilities 84,068.45M 94,818.64M 106,243.68M 107,237.62M 100,629.42M
Total equity 11,557.04M 13,566.16M 14,156.22M 13,805.25M 14,530.67M
Operating cash flow 4,499.41M 3,850.92M 3,463.46M 3,586.49M --

Valuation Measures

Dec 2022
PER9.77
ROA0.85%
ROE7.41%
Operating margin16.82%
Profit margin12.94%

Key executives

  • Chief Executive Officer & Executive Director: Kattiya Indaravijaya
  • Co-President & Executive Director: Pipit Aneaknithi
  • Co-President & Executive Director: Patchara Samalapa
  • Co-President & Executive Director: Krit Jitjang
  • Co-President & Executive Director: Pipatpong Poshyanonda

Shareholders

  • Norges Bank Investment Management (1.3%)
  • GQG Partners LLC (0.9%)
  • Eastspring Asset Management (Thailand) Co., Ltd. (0.7%)
  • Krungsri Asset Management Co., Ltd. (0.5%)
  • Orbis Investment Management Ltd. (0.4%)
  • APG Asset Management NV (0.4%)
  • Wellington Management Singapore Pte Ltd. (0.3%)
  • Goldman Sachs Asset Management International (0.2%)
  • Schroder Investment Management Ltd. (0.2%)
  • Barings (UK) Ltd. (0.2%)

Contact Details

  • Website:http://www.kasikornbank.com
  • Address: 1 Soi Rat Burana 27/1, Rat Burana Rd, Rat Burana Sub-District, Bangkok, 10140, Thailand
  • Phone: +66.2.222.0000

Related Companies

  • Kasikorn Vision Financial Co. Pte Ltd.
  • Kasikorn Vision Co., Ltd.
  • KASIKORN Global Payment Co., Ltd.
  • Progress Gunpai Security Guard Co., Ltd.
  • Progress Multi Insurance Broker Co., Ltd.
  • Beacon Interface Co., Ltd.
  • Kasikorn Vision Information Technology Co., Ltd.
  • Progress Service Security Guard Co., Ltd.
  • AI GEN Co., Ltd.
  • Registered Provident Fund of Kasikornbank
  • KASIKORNBANK (China) Co., Ltd.
  • Beacon Venture Capital LTD
  • Kasikorn Business-Technology Group
  • KASIKORNTHAI BANK Ltd.
  • Kasikornbank Public Co. Ltd. (Shenzhen Branch)
  • Kasikornbank Public Co. Ltd. (Los Angeles Branch)
  • Starbright Finance Co., Ltd.
  • Kasikornbank Public Co. Ltd. (Cayman Islands)
  • Kasikornbank Public Co. Ltd. (Hong Kong Branch)
  • Thanyathamrongkij Co. Ltd.
  • Kasikorn Research Center Co., Ltd.
  • Progress Training Co., Ltd.
  • KHAO KLA Venture Capital Management Co. Ltd.
  • Thanyanithiwattana Co. Ltd.
  • Thanyathanathavee Co. Ltd.
  • Kasikorn Factory & Equipment Co., Ltd.
  • Kasikorn Factoring Co. Ltd.
  • Phethai Asset Management Co., Ltd.
  • Progress Storage Co., Ltd.
  • Progress Software Co. Ltd.

Competitors

  • CIMB Thai Bank Public Co. Ltd.
  • SCB X Public Company Limited
  • Krung Thai Bank Public Co., Ltd.
  • TISCO Financial Group Public Co. Ltd.
  • Bank of China Limited Class H
  • LH Financial Group PCL
  • Kiatnakin Phatra Bank Public Co. Ltd.
  • Industrial and Commercial Bank of China Limited Class H
  • Sumitomo Mitsui Trust Holdings, Inc.
  • Bank of Ayudhya Public Co., Ltd.
  • Mega Financial Holding Co., Ltd.
  • United Overseas Bank Ltd. (Singapore)
  • Bangkok Bank Public Company Limited
  • ANZ Group Holdings Limited
  • ANZ Group Holdings Limited
  • TMBThanachart Bank Public Company Limited
  • Standard Chartered PLC
  • KGI Securities (Thailand) Public Co., Ltd.
Last Updated on 8 Feb, 2023

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