Currency and Interest Rate Outlook
K
KASIKORNTHAI
TFRS and IFRS Implementation*
2013
2014
2015
2016
2020
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
2024**
TAS 21: Effects of
Changes in Foreign
Exchange Rates
Translate 'Functional
Currency' to
'Presentation Currency'
TFRS 8: Operating
Segments
Disclose operating
results for each key
segment
TFRIC 13:
Customer Loyalty
Programmes
Deferred portion
of income for
reward credit
granted
TFRS 13: Fair
value
Measurement
➤Clear required
factors and
disclosure
about fair
valuation
TFRS 4: Insurance
Contracts
➤ Measure
insurance liability
based on cash
flow estimation
Additional
disclosure
regarding risk
exposure
Note: TAS Thai Accounting Standard; TFRS = Thai Financial Reporting Standard; TFRIC = Thai Financial
Reporting Interpretations Committee
OCI Other Comprehensive Income
*Only financial and disclosure impact to Thai Banks
**Tentatively effective
TFRS 16 (Leases)
There is a single, on-balance
sheet accounting model that is
similar to current finance lease
accounting.
TFRS 9 (IAS 39), TFRS 7 & TAS
32: Financial Instruments
Thai banks have implemented a
new provisioning rule under IAS
39, since December 2006
➤ Unquoted equities at cost to be
faired value and not able to
realize capital gain/loss in profit
and loss if they are faired
valued through OCI
➤Interest revenue of lending
portfolio will be recognized per
effective interest rate
➤Investment in property fund,
REIT, infrastructure fund and
infrastructure trust established
in Thailand will be classified as
equity instrument. (Refer to
announcement from TFRC
dated 25 June 2020)
TFRS 17: Insurance
Contracts
➤Insurance revenue will
be based on margin,
not gross premium
received
➤ Expected day one loss
is immediately realized
while expected gain is
deferred over coverage
period
K
KASIKORNTHAI
บริการทุกระดับประทับใจ
Government Policy
บริการทุกระดับประทับใจ
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
123
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