2022 Performance and Sustainability Focus
Benefiting from cost synergy, especially a reduction in recurring expenses Ub
Total Operating Income
Total Operating Expense & C/I Ratio
THB million
Total
Operating
Income
65,537 65,852 Flat YoY
THB million
49%
48%
C/I
44%
45%
45%
46%
45%
14,537
14,236 -2% YoY
Ratio
+9% QoQ,
+8% YoY 51,000
51,617 +1% YoY
Non-NII 16,508 15,774 15,889 16,349 17,840
3,739
3,365
3,475
3,381
+19% QoQ,
4,014 +7% YoY
NII
12,769
12,409 12,414
12,968
13,826
+7% QoQ,
+8% YoY
4Q21
1Q22
2Q22
3Q22
4Q22
2021
2022
31,219
29,952 -4% YoY
+11% QoQ
+3% YoY
Total 7,999
6,987 7,262 7,447 8,256
Operating
Expenses
-||
4Q21 1Q22 2Q22 3Q22 4Q22
2021
2022
Total operating income grew both QoQ and YoY in 4Q22, supported by NII
recovery from loan expansion and benefit from B/S initiatives to prepare for
rising rate cycle while growth in Non-NII was boosted by gains from AT1-debt
instrument repurchase transaction.
For 2022, the Bank's Non-NII performance was weighed down by selective
growth strategy and slowdown in mutual fund business due mainly to
fluctuations in global market. Total operating income was flat YoY and
recorded at THB 65.9 bn.
As per business plan, operating expense in 4Q22 increased from the ramp-
up of digital investment and seasonal expenses to support business growth.
Full-year 2022, OPEX declined by 4%, supported by a strong decline in
recurrent expenses while cost saving synergies support the investment for
efficiency improvement and digital transformation.
C/I ratio, hence, was end at 45%. Our plan is to achieve C/I ratio at low-40s
in the next 3 years.
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