2022 Performance and Sustainability Focus
Win-win solution in repurchasing AT1 with gain and capital utilization
tub
THB million
Total Non-NII
14,537
14,236 -2% YoY
3,288
3,845 +17% YoY
+19% QoQ
+7% YoY
Total Non-NII
11,248
3,739
4,014
10,391 -8% YoY
3,365
3,475
Other Non-NII
746
903
830
Net fee and
service income
2,993
2,462
2,645
3,381
847
2,534
+49% QoQ
1,264 +69% YoY
2,750 +9% QoQ
-8% YoY
4Q21
1Q22
2Q22
3Q22
4Q22
2021
2022
•
•
During Sep-Nov 22, the Bank initiated AT1 repurchase transaction of approx. US$154 mn, equivalent to 38.6% of total AT 1 outstanding. Key objective is to enhance
equity holder value. Back in 2019, the purpose of AT1 issuance was to close potential fund-raising gap. Now that the Bank successfully completed merger
transaction and has robust capitals, Hybrid Tier 1 is no longer needed. With this action, the Bank recognized gains of THB 65 mn in 3Q22 and THB 463 mn in
4Q22.
Net fee income improved QoQ driven mainly by auto-bancassurance and credit card fee, but fee from mutual fund business was slowdown as unfavorable market
situation still affected customers' investment appetite.
Details of strategy Non-NII are in the following page.
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