kasikornbank public company limited and its subsidiaries · less revaluation allowance for debt...

KASIKORNBANK PUBLIC COMPANY LIMITED and Its Subsidiaries

Interim financial statements

For the three-month period ended 31 March 2016

and

Independent Auditor’s Report

On Review of Interim Financial Information

Independent Auditor’s Report on Review of Interim Financial Information

To the Board of Directors of KASIKORNBANK PUBLIC COMPANY LIMITED

I have reviewed the accompanying consolidated and the Bank-only statements of financial position of

KASIKORNBANK PUBLIC COMPANY LIMITED and its subsidiaries, and of KASIKORNBANK PUBLIC

COMPANY LIMITED, respectively, as at 31 March 2016; the consolidated and the Bank-only statements

of profit or loss and other comprehensive income for the three-month period ended 31 March 2016,

changes in equity and cash flows for the three-month period ended 31 March 2016; and condensed

notes (“interim financial information”). The Bank’s management is responsible for the preparation and

presentation of this interim financial information in accordance with Thai Accounting Standard 34,

“Interim Financial Reporting”. My responsibility is to express a conclusion on this interim financial

information based on my review.

Scope of Review I conducted my review in accordance with the Thai Standard on Review Engagements 2410, “Review of

Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of interim

financial information consists of making inquiries, primarily of persons responsible for financial and

accounting matters, and applying analytical and other review procedures. A review is substantially less

in scope than an audit conducted in accordance with Thai Standards on Auditing and consequently does

not enable me to obtain assurance that I would become aware of all significant matters that might be

identified in an audit. Accordingly, I do not express an audit opinion.

2

Conclusion Based on my review, nothing has come to my attention that causes me to believe that the

accompanying interim financial information is not prepared, in all material respects, in accordance

with Thai Accounting Standard 34, “Interim Financial Reporting”.

(Charoen Phosamritlert)

Certified Public Accountant

Registration No. 4068

KPMG Phoomchai Audit Ltd.

Bangkok

10 May 2016

KASIKORNBANK PUBLIC COMPANY LIMITED AND SUBSIDIARIES

STATEMENTS OF FINANCIAL POSITION

Thousand Baht

Note

31 March 2016

(Unaudited)

31 December 2015 31 March 2016

(Unaudited)

31 December 2015

Cash 45,579,375 56,226,230 45,511,133 56,203,527

Interbank and money market items - net 402,744,003 308,744,496 392,703,784 298,523,171

Claims on security 1,072 1,288 - -

Derivative assets 30,737,089 31,830,604 31,090,030 32,513,462

Investments - net 6 482,343,682 477,200,035 201,765,788 213,198,650

Investments in subsidiaries and associates - net 7 690,233 662,368 14,405,021 14,475,750

Loans to customers and accrued interest receivables - net 8 , 9

Loans to customers 1,623,036,872 1,619,526,585 1,590,715,849 1,588,064,981

Accrued interest receivables 3,134,859 3,088,273 2,733,726 2,706,922

Total Loans to customers and accrued interest receivables 1,626,171,731 1,622,614,858 1,593,449,575 1,590,771,903

Less Deferred revenue (9,459,460) (9,639,590) (264,244) (293,927)

Less Allowance for doubtful accounts 10 (68,199,942) (60,901,538) (66,188,696) (59,135,674)

Less Revaluation allowance for debt restructuring 11 (3,318,994) (3,415,769) (3,318,981) (3,415,756)

The BankConsolidated

ASSETS

Total Loans to customers and accrued interest receivables - net 1,545,193,335 1,548,657,961 1,523,677,654 1,527,926,546

Customers' liability under acceptances 221,218 130,862 221,218 130,862

Properties foreclosed - net 14,754,541 14,196,584 14,414,432 13,865,038

Premises and equipment - net 13 50,022,717 45,284,434 41,605,589 36,850,925

Goodwill and other intangible assets - net 23,856,143 24,234,227 19,159,136 19,538,162

Deferred tax assets 14 4,308,436 5,584,612 3,503,842 4,614,921

Collateral per credit support annex 10,587,793 13,861,552 10,587,793 13,861,552

Other assets - net 32,668,980 28,690,119 15,238,594 16,564,302

Total Assets 2,643,708,617 2,555,305,372 2,313,884,014 2,248,266,868

The accompanying notes are an integral part of these interim financial statements. 3


STATEMENTS OF FINANCIAL POSITION

Thousand Baht

Note

31 March 2016

(Unaudited)

31 December 2015 31 March 2016

(Unaudited)

31 December 2015

The BankConsolidated

Deposits 1,747,634,428 1,705,379,017 1,750,401,986 1,708,593,777

Interbank and money market items 76,070,191 71,465,737 89,497,312 81,844,870

Liabilities payable on demand 27,440,298 23,545,166 27,439,598 23,544,465

Liabilities to deliver security 73,812 121,282 - -

Financial liabilities designated at fair value through profit or loss 21,446 38,890 21,446 38,890

Derivative liabilities 33,243,461 33,570,889 32,067,624 31,703,137

Debts issued and borrowings 89,675,851 85,577,772 89,441,245 85,382,126

Bank's liability under acceptances 221,218 130,862 221,218 130,862

Provisions 15 24,086,056 21,586,936 23,188,341 20,767,651

Deferred tax liabilities 14 1,899,734 1,907,000 - -

Insurance contract liabilities 16 267,628,659 251,447,597 - -

Other liabilities 57,314,331 48,321,275 35,333,995 32,307,029

Total Liabilities 2,325,309,485 2,243,092,423 2,047,612,765 1,984,312,807

LIABILITIES AND EQUITY

Equity

Share capital 17

Authorized share capital

3,048,614,697 common shares, Baht 10 par value 30,486,147 30,486,147 30,486,147 30,486,147

Issued and paid-up share capital

2,393,260,193 common shares, Baht 10 par value 23,932,602 23,932,602 23,932,602 23,932,602

Premium on common shares 18,103,110 18,103,110 18,103,110 18,103,110

Other reserves 19,273,102 14,843,155 16,760,584 12,924,550

Retained earnings

Appropriated

Legal reserve 3,050,000 3,050,000 3,050,000 3,050,000

Unappropriated 225,361,186 225,870,851 204,424,953 205,943,799

Total Equity attributable to equity holders of the Bank 289,720,000 285,799,718 266,271,249 263,954,061

Non-controlling interests 28,679,132 26,413,231 - -

Total Equity 318,399,132 312,212,949 266,271,249 263,954,061

Total Liabilities and Equity 2,643,708,617 2,555,305,372 2,313,884,014 2,248,266,868

(Mr. Banthoon Lamsam) (Ms. Kattiya Indaravijaya)Chairman of the Board and Chief Executive Officer President


For the three-month period ended 31 March For the three-month period ended 31 March

Note 2016 2015 2016 2015

Interest income 23 28,786,621 28,530,639 25,193,002 25,511,804

Interest expenses 24 6,587,047 7,555,671 6,575,937 7,534,210

Interest income - net 22,199,574 20,974,968 18,617,065 17,977,594

Fees and service income 12,087,342 11,272,518 12,404,552 11,357,413

Fees and service expenses 2,366,426 2,239,891 2,358,545 2,217,467

Fees and service income - net 9,720,916 9,032,627 10,046,007 9,139,946

Gain on trading and foreign exchange transactions 2,128,579 2,187,289 2,130,470 2,191,490

Loss on financial liabilities designated at fair value through profit or loss (380) (282) (380) (282)

Gain on investments 25 926,342 286,915 963,171 63,881

Share of profit from investments using equity method 32,391 26,703 - -

Dividend income 434,630 433,011 742,508 373,743

Net premiums earned 26,225,806 22,822,829 - -

Other operating income 897,995 347,426 1,990,521 1,207,775

Total operating income 62,565,853 56,111,486 34,489,362 30,954,147

Underwriting expenses 22,814,379 19,852,182 - -

Total operating income - net 39,751,474 36,259,304 34,489,362 30,954,147

Other operating expenses

Employee's expenses 7,457,659 7,141,472 5,598,596 5,443,211

Directors' remuneration 17,538 15,526 10,443 8,781

Premises and equipment expenses 2,759,950 3,185,819 2,817,695 3,121,634

Taxes and duties 1,102,699 1,049,996 993,653 963,916

KASIKORNBANK PUBLIC COMPANY LIMITED AND SUBSIDIARIESSTATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

(UNAUDITED)Thousand Baht

Consolidated The Bank


Others 3,455,596 4,024,011 3,432,283 4,017,780

Total other operating expenses 14,793,442 15,416,824 12,852,670 13,555,322

Impairment loss on loans and debt securities 11,293,287 4,006,724 11,078,325 3,807,837

Operating profit before income tax expense 13,664,745 16,835,756 10,558,367 13,590,988

Income tax expense 2,716,515 3,320,877 1,945,066 2,640,799

Net profit 10,948,230 13,514,879 8,613,301 10,950,189

Other comprehensive income

Items that will be reclassified subsequently to profit or loss

Gain on remeasurement of available-for-sale investments 2,277,794 190,760 329,544 15,348

Loss arising from translating the financial statements of a foreign

operation 26 (112,412) (70,345) (115,781) (55,565)

Income taxes relating to components of other comprehensive income (457,207) (14,560) (67,218) (2,034)

Items that will not be reclassified subsequently to profit or loss

Changes in revaluation surplus 13 4,660,080 - 4,660,080 -

Actuarial losses on defined benefit plans 15 (2,250,000) (66,755) (2,250,000) -

Share of other comprehensive income of associates - (398) - -

Income taxes relating to components of other comprehensive income (482,016) (13,431) (482,016) -

Total other comprehensive income 3,636,239 25,271 2,074,609 (42,251) Total comprehensive income 14,584,469 13,540,150 10,687,910 10,907,938

Net profit attributable to :

Equity holders of the Bank 9,646,092 12,401,332 8,613,301 10,950,189


Total comprehensive income attributable to :

Equity holders of the Bank 12,314,845 12,377,345 10,687,910 10,907,938


Earnings per share of equity holders of the BankBasic earnings per share (Baht) 17 4.03 5.18 3.60 4.58

Weighted average number of common shares (Thousand shares) 2,393,260 2,393,260 2,393,260 2,393,260

(Mr. Banthoon Lamsam) (Ms. Kattiya Indaravijaya)

Chairman of the Board and Chief Executive Officer President


Note Non-controlling Total Issued and Premium on Total equity Interests

Paid-up Share Share Capital Appraisal Revaluation Foreign Total Appropriated Unappropriated attributable to equityCapital Surplus on Surplus on Currency other Legal Reserve holders of the Bank

Asset Revaluation Available-for-sale Translation reservesInvestments (Note 26)

Three-month period ended 31 March 2015Balance at 1 January 2015 23,932,602 18,103,110 9,777,987 5,813,751 231,367 15,823,105 3,050,000 196,150,422 257,059,239 23,626,615 280,685,854

Net profit - - - - - - - 12,401,332 12,401,332 1,113,547 13,514,879 Other comprehensive income - - - 67,020 (69,310) (2,290) - (21,697) (23,987) 49,258 25,271 Total comprehensive income - - - 67,020 (69,310) (2,290) - 12,379,635 12,377,345 1,162,805 13,540,150

KASIKORNBANK PUBLIC COMPANY LIMITED AND SUBSIDIARIESSTATEMENTS OF CHANGES IN EQUITY

(UNAUDITED)

Other reserves Retained EarningsEquity holders of the Bank

ConsolidatedThousand Baht

Transferred to retained earnings - - (28,109) - - (28,109) - 28,109 - - - Others - - - - - - - 249 249 - 249

Balance at 31 March 2015 23,932,602 18,103,110 9,749,878 5,880,771 162,057 15,792,706 3,050,000 208,558,415 269,436,833 24,789,420 294,226,253

Three-month period ended 31 March 2016Balance at 1 January 2016 23,932,602 18,103,110 9,663,990 5,233,877 (54,712) 14,843,155 3,050,000 225,870,851 285,799,718 26,413,231 312,212,949 Dividend paid 18 - - - - - - - (8,376,411) (8,376,411) - (8,376,411)

Net profit - - - - - - - 9,646,092 9,646,092 1,302,138 10,948,230 Other comprehensive income - - 3,728,064 854,411 (113,722) 4,468,753 - (1,800,000) 2,668,753 967,486 3,636,239 Total comprehensive income - - 3,728,064 854,411 (113,722) 4,468,753 - 7,846,092 12,314,845 2,269,624 14,584,469

Transferred to retained earnings - - (38,806) - - (38,806) - 38,806 - - - Others - - - - - - - (18,152) (18,152) (3,723) (21,875)

Balance at 31 March 2016 23,932,602 18,103,110 13,353,248 6,088,288 (168,434) 19,273,102 3,050,000 225,361,186 289,720,000 28,679,132 318,399,132


NoteIssued and Premium on Total

Paid-up Share Share Capital Appraisal Revaluation Foreign Total Appropriated UnappropriatedCapital Surplus on Surplus on Currency other Legal Reserve

Asset Revaluation Available-for-sale Translation reservesInvestments (Note 26)

Three-month period ended 31 March 2015Balance at 1 January 2015 23,932,602 18,103,110 9,193,899 3,712,528 228,908 13,135,335 3,050,000 181,221,507 239,442,554

Net profit - - - - - - - 10,950,189 10,950,189 Other comprehensive income - - - 12,278 (54,529) (42,251) - - (42,251) Total comprehensive income - - - 12,278 (54,529) (42,251) - 10,950,189 10,907,938

Retained Earnings

Thousand BahtThe Bank

Equity holders of the BankOther reserves

KASIKORNBANK PUBLIC COMPANY LIMITED AND SUBSIDIARIESSTATEMENTS OF CHANGES IN EQUITY

(UNAUDITED)

Transferred to retained earnings - - (27,877) - - (27,877) - 27,877 -

Balance at 31 March 2015 23,932,602 18,103,110 9,166,022 3,724,806 174,379 13,065,207 3,050,000 192,199,573 250,350,492

Three-month period ended 31 March 2016Balance at 1 January 2016 23,932,602 18,103,110 9,080,843 3,874,271 (30,564) 12,924,550 3,050,000 205,943,799 263,954,061 Dividend paid 18 - - - - - - - (8,376,411) (8,376,411)

Net profit - - - - - - - 8,613,301 8,613,301 Other comprehensive income - - 3,728,064 263,635 (117,090) 3,874,609 - (1,800,000) 2,074,609 Total comprehensive income - - 3,728,064 263,635 (117,090) 3,874,609 - 6,813,301 10,687,910

Transferred to retained earnings - - (38,575) - - (38,575) - 38,575 - Others - - - - - - - 5,689 5,689

Balance at 31 March 2016 23,932,602 18,103,110 12,770,332 4,137,906 (147,654) 16,760,584 3,050,000 204,424,953 266,271,249

(Mr. Banthoon Lamsam) (Ms. Kattiya Indaravijaya)Chairman of the Board and Chief Executive Officer President



STATEMENTS OF CASH FLOWS


Note 2016 2015 2016 2015

CASH FLOWS FROM OPERATING ACTIVITIES

Operating profit before income tax expense 13,664,745 16,835,756 10,558,367 13,590,988

Add (Less) Adjustments to reconcile operating profit before income tax expense to

net cash from operating activities

Depreciation and amortisation 1,884,082 1,583,274 1,712,895 1,431,700

Bad debt and doubtful accounts 10,618,934 3,899,136 10,321,476 3,683,599

Loss on debt restructuring 870,763 209,612 870,763 209,612

Interest income from amortisation of revaluation allowance for debt restructuring (286,569) (111,943) (286,569) (111,943)

Loss (Gain) on foreign exchange translation of long-term borrowings 19,155 (437) 19,155 (437)

Gain on revaluation of trading investments (81,410) (15,465) (74,751) (22,860)

Reversal of loss on impairment of investments (59,484) - (171,719) -

Gain on disposal of investments securities (926,053) (286,780) (762,750) (63,881)

Gain on liquidation of subsidiaries - - (28,703) -

Gain on disposal of investments in associated company (288) (134) - -

(Reversal) Loss on impairment of properties foreclosed (1,227) 34,955 - 31,638

Provision for other assets 80,242 565,053 80,242 565,053

Loss (Gain) on disposal of premises and equipment 557 (494) (175) (1,107)

Loss on write off of premises and equipment 1 281 474 1 281 26

(UNAUDITED)

Thousand Baht


Loss on write off of premises and equipment 1,281 474 1,281 26

Loss on write off of other assets 1,112 13,176 1,112 12,749

Reversal of loss on revaluation of premises (109,729) - (109,729) -

Share of profit from investments using equity method (32,391) (26,703) - -

25,643,720 22,699,480 22,130,895 19,325,137

Interest income - net (22,199,574) (20,974,968) (18,617,065) (17,977,594)

Dividend income (434,630) (433,011) (742,508) (373,743)

Proceeds from interest 28,095,399 28,442,989 25,468,681 26,388,026

Interest paid (7,487,847) (8,179,058) (7,444,039) (8,137,171)

Proceeds from dividends 196,587 190,165 718,456 348,946

Income tax paid (348,389) (322,627) (238,324) (215,283)

Profit from operating before changes in operating assets and liabilities 23,465,266 21,422,970 21,276,096 19,358,318

(Increase) Decrease in operating assets

Interbank and money market items (assets) (96,223,048) (92,671,198) (96,341,633) (85,726,253)

Investments held for trading (17,311,261) (1,490,834) (17,056,238) (1,541,401)

Loans to customers (9,173,069) (24,136,148) (7,850,739) (22,793,605)

Properties foreclosed 693,202 801,477 587,981 717,025

Other assets 1,154,531 657,054 5,457,011 1,737,102



STATEMENTS OF CASH FLOWS


Note 2016 2015 2016 2015

(UNAUDITED)

Thousand Baht


Increase (Decrease) in operating liabilities

Deposits 42,353,461 23,689,696 41,884,215 23,341,615

Interbank and money market items (liabilities) 5,631,424 36,088,716 8,675,280 29,962,042

Liabilities payable on demand 3,895,132 3,010,995 3,895,133 3,010,987

Financial liabilities designated at fair value through profit or loss (17,444) 290,472 (17,444) 290,472

Short-term debts issued and borrowings 5,000,375 (2,089,599) 4,961,415 (2,067,420)

Other accrued expenses (4,488,334) (4,428,540) (3,766,587) (3,517,617)

Provisions 249,125 397,335 170,695 370,086

Other liabilities 28,367,892 14,021,886 7,118,263 (1,301,324)

Net cash used in operating activities (16,402,748) (24,435,718) (31,006,552) (38,159,973)

CASH FLOWS FROM INVESTING ACTIVITIES

Proceeds from disposal of available-for-sale investments 55,612,274 66,576,581 51,237,382 64,453,234

Proceeds from redemption of held-to-maturity debt instruments 15,673,502 18,547,927 14,164,582 5,198,552

Proceeds from disposal of general investments 961,568 97,843 959,466 93,405

Proceeds from capital decrease in subsidiary - - 190,000 200,000

Proceeds from liquidation of subsidiaries - - 4,530,660 -

Proceeds from disposal of investments in associated company 1,088 934 - -

Purchase of available-for-sale investments (35 174 433) (50 497 239) (31 495 411) (46 436 528) Purchase of available for sale investments (35,174,433) (50,497,239) (31,495,411) (46,436,528)

Purchase of held-to-maturity debt instruments (21,380,632) (24,646,694) (5,000,000) -

Purchase of investments in subsidiary - - (4,498,272) -

Proceeds from disposal of premises and equipment 6,618 1,541 219 1,909

Purchase of premises and equipment (1,132,080) (1,253,661) (993,616) (1,046,753)

Purchase of leasehold (612) (171,787) (643) (137,580)

Purchase of intangible assets (429,816) (745,826) (396,479) (694,805)

Net cash provided by investing activities 14,137,477 7,909,619 28,697,888 21,631,434

CASH FLOWS FROM FINANCING ACTIVITIES

Decrease in long-term debts issued and borrowings (7,318) (12,786) (7,318) (12,786)

Dividend paid to shareholders 18 (8,376,411) - (8,376,411) -

Net cash used in financing activities (8,383,729) (12,786) (8,383,729) (12,786)

Effect of exchange rate changes on balances held in foreign currencies 2,145 1 (1) 1

Net decrease in cash (10,646,855) (16,538,884) (10,692,394) (16,541,324)

Cash at the beginning of the period 5 56,226,230 58,005,650 56,203,527 57,997,253

Cash at the end of the period 5 45,579,375 41,466,766 45,511,133 41,455,929

(Mr. Banthoon Lamsam) (Ms. Kattiya Indaravijaya)

Chairman of the Board and Chief Executive Officer President


KASIKORNBANK PUBLIC COMPANY LIMITED AND SUBSIDIARIES NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE THREE-MONTH PERIOD ENDED 31 MARCH 2016 (UNAUDITED)

10

Note Contents Page 1 General information 11

2 Basis of preparation of the interim financial statements 11

3 Significant accounting policies 12

4 Capital requirements 13

5 Supplementary information of cash flows 15

6 Investments - net 16

7 Investments in subsidiaries and associated companies - net 22

8 Loans to customers and accrued interest receivables - net 24

9 Troubled debt restructuring 29

10 Allowance for doubtful accounts 33

11 Revaluation allowance for debt restructuring 34

12 Classified assets 35

13 Premises and equipment – net 36

14 Deferred tax assets and deferred tax liabilities 37

15 Employee retirement benefits 37

16 Insurance contract liabilities 37

17 Share capital and earnings per share 38

18 Dividend payments 38

19 Assets pledged as collateral 38

20 Contingent liabilities and commitments 39

21 Related party transactions and balances 40

22 Segment information 43

23 Interest income 46

24 Interest expenses 46

25 Gain on investments 47

26 Gain (loss) arising from translating the financial statements of a foreign operation 48

27 Fair value of assets and liabilities 49


11

These notes form an integral part of the interim financial statements.

The interim financial statements issued for Thai statutory and regulatory reporting purposes are prepared in the Thai language.

These English language interim financial statements have been prepared from the Thai language statutory interim financial

statements, and were approved and authorised for issue by the Audit Committee on 10 May 2016.

1 GENERAL INFORMATION

KASIKORNBANK PUBLIC COMPANY LIMITED, (“the Bank”), is a registered public company located in the Kingdom of

Thailand and listed on the Stock Exchange of Thailand on 9 February 1976. The registered office of the Bank is at 1 Soi

Rat Burana 27/1, Rat Burana Road, Rat Burana Sub-District, Rat Burana District, Bangkok.

The principal activity of the Bank is commercial banking and the Bank conducts its businesses through a network of

branches covering all parts of Thailand and certain major cities overseas.

Details of the Company’s subsidiaries and associated companies as at 31 March 2016 and 31 December 2015 are given

in note 7 to the interim financial statements.

2 BASIS OF PREPARATION OF THE INTERIM FINANCIAL STATEMENTS

a) Statement of compliance

The interim financial statements are prepared on a condensed basis in accordance with Thai Accounting Standard

(TAS) No.34 (revised 2015) Interim Financial Reporting, guidelines promulgated by the Federation of Accounting

Professions (“FAP”), applicable rules and regulations of the Securities and Exchange Commission (“SEC”), and the

Stock Exchange of Thailand (“SET”), and with the Bank of Thailand (“BoT”) notification number SOR NOR SOR

21/2558, directive dated 4 December 2015, regarding the “Preparation and announcement of the financial statements

of commercial banks and holding companies which are a parent company of a group of companies offering financial

services”, and other supplementary BoT notifications.

The interim financial statements are prepared to provide an update on the financial statements for the year ended

31 December 2015. They do not include all of the financial information required for full annual financial statements but

focus on new activities, events and circumstances to avoid repetition of information previously reported. Accordingly,

these interim financial statements should be read in conjunction with the financial statements of the Bank and its

subsidiaries for the year ended 31 December 2015.

The Bank and its subsidiaries have adopted all the new and revised TFRS that are effective for annual periods

beginning on or after 1 January 2016. The adoption of these new and revised TFRS did not have an impact on the

accounting policies, methods of computation, financial position or performance of the Bank and its subsidiaries.


12

b) Functional and presentation currencies

The interim financial statements are prepared and presented in Thai Baht, which is the Bank’s functional currency. All

financial information is presented in Thai Baht and has been rounded in the interim financial statements to the nearest

thousand and in the notes to the interim financial statements to the nearest million unless otherwise stated.

c) Use of estimates and judgements

The preparation of interim financial statements in conformity with TFRS requires management to make judgments,

estimates and assumptions that affect the application of accounting policies and the reported amounts of assets,

liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are

recognised in the period in which estimates are revised and in any future period affected.

In preparing these interim financial statements, the significant judgments made by management in applying the Bank

and its subsidiaries’ accounting policies and the key sources of estimation uncertainty were the same as those applied

to the financial statements for the year ended 31 December 2015.

d) Basis of consolidation

The consolidated financial statements relate to the Bank and its subsidiaries and the Bank’s interests in associates.

Transactions eliminated on consolidation

Intra-group balances and transactions, and any unrealised income or expenses arising from intra-group transactions,

are eliminated in preparing the consolidated financial statements. Unrealised gains arising from transactions with

associates are eliminated against the investment to the extent of the Bank and its subsidiaries’ interest in the investee.

Unrealised losses are eliminated in the same way as unrealised gains, but only to the extent that there is no evidence

of impairment.

The consolidated and the Bank only financial statements include the accounts of all branches; domestic and

outside Thailand. Interbranch transactions have been eliminated.

3 SIGNIFICANT ACCOUNTING POLICIES

Accounting policies and methods of computation applied by the Bank and its subsidiaries in the interim financial

statements for the three-month period ended 31 March 2016 are consistent with those applied in the financial statements

for the year ended 31 December 2015.


13

4 CAPITAL REQUIREMENTS

The ratios of capital to assets (Capital Adequacy Ratio) of KASIKORNBANK FINANCIAL CONGLOMERATE and The Bank

as of 31 March 2016 and 31 December 2015 are set out below. The Bank has chosen to adopt the Standardized

Approach in accordance with Bank of Thailand (“BoT”) requirements, which is in line with the requirements of Basel III.

(Million Baht)

KASIKORNBANK FINANCIAL

CONGLOMERATE

31 March 2016 31 December 2015

Tier 1 Capital

Common Equity Tier 1 (CET1)

Issued and paid-up share capital, premium on common shares 42,036 42,036

Legal reserves 3,050 3,050

Net profit after appropriation 217,494 210,493

Other comprehensive income 15,307 14,642

Less Capital deduction items on CET1 (21,238) (18,555)

Total Tier 1 Capital Base 256,649 251,666

Tier 2 Capital

Subordinated debentures 42,500 42,500

General Provision 19,030 19,166

Less Capital deduction items on Tier 2 (1,569) (1,480)


Total Capital Base 316,610 311,852

Total Risk-Weighted Assets 1,724,583 1,732,067


14

(Percentage)

KASIKORNBANK FINANCIAL CONGLOMERATE

Capital Adequacy Ratio

BoT regulatory

minimum requirement

and conservation buffer* 31 March 2016

BoT regulatory

minimum

requirement

31 December 2015

Tier 1 Capital ratio 6.625 14.88 6.00 14.53

Common Equity Tier 1 ratio 5.125 14.88 4.50 14.53

Tier 2 Capital ratio - 3.48 - 3.47

Capital adequacy ratio 9.125 18.36 8.50 18.00

* Conservation buffer requires additional Common Equity Tier 1 of 0.625% per annum from 1 January 2016 onwards until reaching 2.50% in 2019.

(Million Baht)

The Bank


Tier 1 Capital

Common Equity Tier 1 (CET1)

Issued and paid-up share capital, premium on common shares 42,036 42,036

Legal reserves 3,050 3,050

Net profit after appropriation 197,567 193,145

Other comprehensive income 12,991 12,892

Less Capital deduction items on CET1 (18,823) (16,416)


Tier 2 Capital

Subordinated debentures 42,500 42,500

General Provision 18,741 18,919


Total Capital Base 298,062 296,126

Total Risk-Weighted Assets 1,691,427 1,702,380


15

(Percentage)

The Bank

Capital Adequacy Ratio

BoT regulatory

minimum requirement

and conservation buffer* 31 March 2016

BoT regulatory

minimum

requirement 31 December 2015

Tier 1 Capital ratio 6.625 14.00 6.00 13.79

Common Equity Tier 1 ratio 5.125 14.00 4.50 13.79

Tier 2 Capital ratio - 3.62 - 3.60

Capital adequacy ratio 9.125 17.62 8.50 17.39

* Conservation buffer requires additional Common Equity Tier 1 of 0.625% per annum from 1 January 2016 onwards until reaching 2.50% in 2019.

As at 31 March 2016 and 31 December 2015, the Bank and KASIKORNBANK FINANCIAL CONGLOMERATE have no add-on

arising from Single Lending Limit.

5 SUPPLEMENTARY INFORMATION OF CASH FLOWS

Significant non-cash items for the three-month period ended 31 March 2016 and 2015 are as follows:

(Million Baht)


2016 2015 2016 2015

Revaluation surplus on available-for-sale investments* 854 67 264 12

Appraised surplus on asset revaluation* 3,728 - 3,728 -

The realised portion of the appraised surplus on asset revaluation* (39) (28) (39) (28)

Foreign currency translation* (114) (69) (117) (55)

Actuarial loss on defined benefit plans* (1,800) (56) (1,800) -

Foreclosed properties arising from auction and debt settlement 1,250 596 1,137 529

* net of deferred tax


16

6 INVESTMENTS - NET

6.1 Type of investments

Investments consisted of:

(Million Baht)


31 March

2016

31 December

2015

31 March

2016

31 December

2015

Fair Value Fair Value Fair Value Fair Value

1. Trading investments

1.1 Government and state enterprise securities 25,747 8,607 25,785 8,607

1.2 Private enterprise debt instruments 2,503 2,544 2,503 2,544

1.3 Marketable equity securities - domestic 876 572 87 83

Total 29,126 11,723 28,375 11,234

2. Available-for-sale investments


2.2 Private enterprise debt instruments 2,133 2,742 1,369 1,986

2.3 Foreign debt instruments 47,039 28,975 32,626 14,497

2.4 Marketable equity securities - domestic 26,086 25,096 2,411 2,136

2.5 Marketable equity securities - overseas 10,530 10,971 3,512 3,684

Total 197,636 215,365 148,779 167,978


17

(Million Baht)


31 March

2016

31 December

2015

31 March

2016

31 December

2015

Cost Value/

Amortised Cost

Value

Cost Value/

Amortised Cost

Value

Cost Value/

Amortised Cost

Value

Cost Value/

Amortised Cost

Value

3. Held-to-maturity debt instruments


3.2 Private enterprise debt instruments 51,015 58,130 453 453

3.3 Foreign debt instruments 16,744 15,000 - -

3.4 Investments in receivables 1,290 1,304 1,285 1,300

Total 254,432 248,804 23,551 32,707

Less Allowance for impairment (473) (532) (453) (453)

Total 253,959 248,272 23,098 32,254

4. General investments

4.1 Non-marketable equity securities - domestic 1,335 1,552 1,097 1,316

4.2 Non-marketable equity securities - overseas 510 510 510 510

Total 1,845 2,062 1,607 1,826

Less Allowance for impairment (222) (222) (93) (93)

Total 1,623 1,840 1,514 1,733

Total Investments - net 482,344 477,200 201,766 213,199


18

6.2 Maturity for debt instruments

The contractual maturity for debt instruments not held for trading is as follows:

(Million Baht)

Consolidated


Maturity Maturity

1 year

Over

1 year to

5 years

Over

5 years

Total

1 year

Over

1 year to

5 years

Over

5 years

Total


1.1 Government and state

enterprise securities 95,425 10,941 4,841 111,207 121,534 20,782 4,991 147,307

1.2 Private enterprise debt

instruments 933 474 765 2,172 1,047 973 784 2,804

1.3 Foreign debt instruments 34,215 1,819 10,358 46,392 16,111 1,858 10,610 28,579

Total 130,573 13,234 15,964 159,771 138,692 23,613 16,385 178,690

Add Allowance for revaluation 157 164 974 1,295 165 159 330 654

Less Allowance for impairment - - (46) (46) - - (46) (46)

Total 130,730 13,398 16,892 161,020 138,857 23,772 16,669 179,298

2. Held-to-maturity debt

instruments




instruments 2,080 8,291 40,644 51,015 2,311 7,747 48,072 58,130

2.3 Foreign debt instruments 305 322 16,117 16,744 110 526 14,364 15,000

2.4 Investments in receivables 128 556 606 1,290 124 543 637 1,304

Total 4,681 37,227 212,524 254,432 11,874 37,589 199,341 248,804

Less Allowance for impairment (5) - (468) (473) (5) - (527) (532)

Total 4,676 37,227 212,056 253,959 11,869 37,589 198,814 248,272

Total Debt Instruments 135,406 50,625 228,948 414,979 150,726 61,361 215,483 427,570


19

(Million Baht)

The Bank


Maturity Maturity

1 year

Over

1 year to

5 years

Over

5 years

Total

1 year

Over

1 year to

5 years

Over

5 years

Total





instruments 933 420 46 1,399 1,046 920 46 2,012

1.3 Foreign debt instruments 32,637 - - 32,637 14,495 - - 14,495

Total 127,895 11,223 3,485 142,603 136,944 21,549 3,639 162,132

Add (Less) Allowance for

revaluation 133 39 127 299 134 60 (122) 72


Total 128,028 11,262 3,566 142,856 137,078 21,609 3,471 162,158

2. Held-to-maturity debt

instruments


enterprise securities 203 20,006 1,604 21,813 9,140 20,210 1,604 30,954


instruments - - 453 453 - - 453 453

2.3 Investments in receivables 123 556 606 1,285 120 543 637 1,300

Total 326 20,562 2,663 23,551 9,260 20,753 2,694 32,707


Total 326 20,562 2,210 23,098 9,260 20,753 2,241 32,254

Total Debt Instruments 128,354 31,824 5,776 165,954 146,338 42,362 5,712 194,412


20

6.3 Investments in other companies having a going concern uncertainty

Investments held by the Bank and its subsidiaries in listed companies which meet SET’s criteria for delisting, and are in

default on debt instruments, or companies whose ability to continue as a going concern is uncertain, or unlisted

companies whose financial position and operating results are the same as companies which meet SET’s criteria for

delisting or investments in receivables with uncertainty in settlement or in default, were as follows:

(Million Baht)

31 March 2016


Cost Value/

Book Value

Fair Value

Allowance for

Impairment

Cost Value/

Book Value

Fair Value

Allowance for

Impairment

1. Listed companies which meet SET’s

criteria for delisting, and are in

default on debt instruments

- Debt instrument 46 - (46) 46 - (46)

2. Companies whose ability to continue

as a going concern is uncertain, or

unlisted companies whose financial

position and operating results are

the same as companies which meet

SET’s criteria for delisting

- Equity security 22 - (22) 22 - (22)

- Debt instrument 453 - (453) 453 - (453)

3. Investments in receivables with

uncertainty in settlement or in default 5 - (5) - - -

Total 526 - (526) 521 - (521)


21

(Million Baht)

31 December 2015


Cost Value/

Book Value

Fair Value

Allowance for

Impairment

Cost Value/

Book Value

Fair Value

Allowance for

Impairment

1. Listed companies which meet SET’s

criteria for delisting, and are in

default on debt instruments

- Debt instrument 46 - (46) 46 - (46)

2. Companies whose ability to continue

as a going concern is uncertain, or

unlisted companies whose financial

position and operating results are

the same as companies which meet

SET’s criteria for delisting

- Equity security 22 - (22) 22 - (22)

- Debt instrument 453 - (453) 453 - (453)

3. Investments in receivables with

uncertainty in settlement or in default 5 - (5) - - -

Total 526 - (526) 521 - (521)


22

7 INVESTMENTS IN SUBSIDIARIES AND ASSOCIATED COMPANIES - NET

Details of the Bank’s subsidiaries and associated companies are as follows:

% Shareholding of the Bank

Direct and Indirect

31 March 2016 31 December 2015 Investments in subsidiaries

KASIKORN ASSET MANAGEMENT CO., LTD. 100.00 100.00

KASIKORN RESEARCH CENTER CO., LTD. 100.00 100.00

KASIKORN SECURITIES PCL (“KSecurities”) 99.99 99.99

KASIKORN LEASING CO., LTD. 100.00 100.00

KASIKORN FACTORY & EQUIPMENT CO., LTD. 100.00 100.00

KASIKORN TECHNOLOGY GROUP SECRETARIAT COMPANY LIMITED 100.00 100.00

KASIKORN LABS COMPANY LIMITED 100.00 100.00

KASIKORN SOFT COMPANY LIMITED 100.00 100.00

KASIKORN PRO COMPANY LIMITED 100.00 100.00

KASIKORN SERVE COMPANY LIMITED 100.00 100.00

Muang Thai Group Holding Co., Ltd. (“MTGH”)* 51.00 51.00

Muang Thai Life Assurance PCL (“MTL”)* 38.25 38.25

KASIKORNTHAI BANK Limited 100.00 100.00

KHAO KLA Venture Capital Management Co., Ltd. 100.00 100.00

K-SME Venture Capital Co., Ltd. 100.00 100.00

Phethai Asset Management Co., Ltd. (“Phethai Asset Management”) 100.00 100.00

Starbright Finance Co., Ltd. 100.00 100.00 PROGRESS PLUS CO., LTD. 100.00 100.00

PROGRESS APPRAISAL CO., LTD. 100.00 100.00 PROGRESS GUNPAI SECURITY GUARD CO., LTD.

(Formerly name PROGRESS GUNPAI CO., LTD.) 100.00 100.00

PROGRESS MANAGEMENT CO., LTD. 100.00 100.00

PROGRESS FACILITIES MANAGEMENT CO., LTD. 100.00 100.00 PROGRESS SERVICE SECURITY GUARD CO., LTD.

(Formerly name PROGRESS SERVICE CO., LTD.) 100.00 100.00

PROGRESS STORAGE CO., LTD. 100.00 100.00

PROGRESS H R CO., LTD. 100.00 100.00


23

% Shareholding of the Bank

Direct and Indirect


PROGRESS SERVICE SUPPORT CO., LTD. 100.00 100.00

PROGRESS COLLECTION CO., LTD. 100.00 100.00

PROGRESS TRAINING CO., LTD. 100.00 100.00 PROGRESS MULTI INSURANCE BROKER CO., LTD. 100.00 100.00

Thanyathanathavee Co., Ltd.** - 100.00

Thanyathamrongkij Co., Ltd.** - 100.00

Thanyanithiwattana Co., Ltd.** - 100.00

Ruang Khao Phuean Thai Joint Investment Agreement** - 100.00

Muang Thai Broker Co., Ltd. 50.49 50.49

MT Insure Broker Co., Ltd.* 38.25 38.25 Investments in associated companies

Processing Center Co., Ltd. 30.00 30.00

National ITMX Co., Ltd. 22.15 22.15

Sovannaphum Life Assurance PLC 18.74 18.74

* The Bank holds 51% of total issued shares of Muang Thai Group Holding Co., Ltd. and Muang Thai Group Holding Co., Ltd. holds 75% of

total shares issued by Muang Thai Life Assurance PCL. Moreover, MT Insure Broker Co., Ltd. was held 100% of total shares issued by Muang

Thai Life Assurance PCL.

** Thanyathanathavee Co., Ltd., and Thanyathamrongkij Co., Ltd. terminated Ruang Khao Phuean Thai Joint Investment Agreement effective

from 19 January 2016, and Thanyathanathavee Co., Ltd., Thanyathamrongkij Co., Ltd. and Thanyanithiwattana Co., Ltd. have registered for

dissolution and were completely liquidated on 28 March 2016.


24

8 LOANS TO CUSTOMERS AND ACCRUED INTEREST RECEIVABLES - NET

Loans to customers and accrued interest receivables - net consisted of:

8.1 Classified by Account Status

(Million Baht)

Consolidated

31 March 2016

Loans and

Accrued Interest

Receivables

Net amount used for

setting the Allowance

for Doubtful Accounts

% Used for setting

the Allowance for

Doubtful Accounts

Allowance for

Doubtful Accounts

1. Minimum reserve under BoT’s Regulations

Pass 1,516,946 534,735 1 5,347

Special Mention 30,506 7,807 2 156

Sub-Standard 12,066 5,621 100 5,621

Doubtful 17,067 7,545 100 7,545

Doubtful of Loss 23,933 11,983 100 11,983

Total 1,600,518 567,691 30,652

2. Excess allowance 37,243

3. Credit balance transaction 1,909 46

4. Loans in life insurance business 14,285 259

Total 1,616,712 68,200


25

(Million Baht)

Consolidated

31 December 2015

Loans and

Accrued Interest

Receivables

Net amount used for



% Used for setting

the Allowance for

Doubtful Accounts

Allowance for

Doubtful Accounts


Pass 1,511,028 527,099 1 5,271

Special Mention 35,969 9,723 2 194

Sub-Standard 12,906 5,841 100 5,841

Doubtful 16,490 8,211 100 8,211

Doubtful of Loss 20,241 10,487 100 10,487

Total 1,596,634 561,361 30,004

2. Excess allowance 30,687

3. Credit balance transaction 2,280 46

4. Loans in life insurance business 14,061 164

Total 1,612,975 60,901


26

(Million Baht)

The Bank

31 March 2016

Loans and

Accrued Interest

Receivables

Net amount used for



% Used for setting

the Allowance for

Doubtful Accounts

Allowance for

Doubtful Accounts


Pass 1,513,928 625,190 1 6,252 Special Mention 28,059 7,774 2 156 Sub-Standard 11,732 5,601 100 5,601 Doubtful 16,759 7,517 100 7,517 Doubtful of Loss 22,707 11,004 100 11,004 Total 1,593,185 657,086 30,530 2. Excess allowance 35,659 Total 66,189

(Million Baht)

The Bank

31 December 2015

Loans and

Accrued Interest

Receivables

Net amount used for



% Used for setting

the Allowance for

Doubtful Accounts

Allowance for

Doubtful Accounts


Pass 1,509,352 619,409 1 6,194 Special Mention 33,339 9,697 2 194 Sub-Standard 12,500 5,821 100 5,821 Doubtful 16,183 8,184 100 8,184 Doubtful of Loss 19,104 9,596 100 9,596 Total 1,590,478 652,707 29,989 2. Excess allowance 29,146 Total 59,135


27

8.2 Non-performing loans (NPL)

Non-performing loans (NPL gross) are defined as sub-standard, doubtful, doubtful of loss and loss loan accounts in

accordance with the BoT’s notification

Non-performing loans, net refers to the non-performing loan value, net of total allowances for doubtful accounts.

In accordance with the BoT’s regulations, commercial banks are required to report the following information:

- Non-performing loans (NPL gross).

- The ratio of NPL gross to total loans.

- Non-performing loans, net (NPL net).

- The ratio of NPL net to total loans after deduction of allowances for doubtful accounts.

The Bank and its subsidiaries showed non-performing loans (including financial institutions) to comply with BoT’s

regulations, summarised as follows:

(Million Baht)

31 March 2016

KASIKORNBANK

Phethai Asset

Management

Other

Consolidated

Non-performing loans, gross

Non-performing loans 51,064 234 1,629 52,927

Total loans used for NPL gross ratio

calculation(1) 1,876,734 236 102,026 1,884,037(2)

Ratio of total loans 2.72 99.14 1.60 2.81

Non-performing loans, net

Non-performing loans 26,698 158 679 27,535

Total loans used for NPL net ratio

calculation(1) 1,852,368 160 101,076 1,858,645(2)



28

(Million Baht)

31 December 2015

KASIKORNBANK

Phethai Asset

Management

Other

Consolidated

Non-performing loans, gross

Non-performing loans 47,645 239 1,606 49,490

Total loans used for NPL gross ratio

calculation(1) 1,824,802 241 102,532 1,830,933(2)


Non-performing loans, net

Non-performing loans 23,679 162 745 24,586

Total loans used for NPL net ratio

calculation(1) 1,800,836 164 101,671 1,806,029(2)

Ratio of total loans 1.31 98.64 0.73 1.36 (1) Excluding loans from KSecurities and MTL. (2) Excluding loans to and from subsidiaries.

8.3 Non-accrual loans based on the accrual basis

The Bank and its subsidiaries showed non-accrual loans, gross, (including financial institutions) based on the accrual

basis to comply with BoT’s regulations can be summarised as follows:

(Million Baht)


31 March

2016

31 December

2015

31 March

2016

31 December

2015

Non-accrual loans 133,030 127,705 130,992 125,725

Total loans used for ratio calculation(1) 1,884,037(2) 1,830,933(2) 1,876,734 1,824,802

Percentage of total loans 7.06 6.97 6.98 6.89

(1) Excluding loans from KSecurities and MTL. (2) Excluding loans to and from subsidiaries.


29

8.4 Loan to listed companies that meet SET’s criteria for delisting

Loans to listed companies that meet SET’s criteria for delisting were as follows:

(Million Baht)

Consolidated and The Bank


Loans and

Accrued

Interest

Receivables

Collateral

Value

Allowance for

Doubtful

Accounts

Loans and

Accrued

Interest

Receivables

Collateral

Value

Allowance for

Doubtful

Accounts

Listed companies which meet SET’s

criteria for delisting 226 123 4 227 122 4

9 TROUBLED DEBT RESTRUCTURING

During the three-month period ended 31 March 2016 and 2015, the Bank and its subsidiaries engaged in debt restructuring

contracts as follows:

(Million Baht) Consolidated The Bank 2016 2015 2016 2015 Total Total Total Total Outstanding

Debt Before Outstanding



Debt Before Cases Restructuring Cases Restructuring Cases Restructuring Cases Restructuring Debt restructuring contracts that incurred losses 4,603 24,933 2,801 3,696 4,603 24,933 2,801 3,696

Debt restructuring contracts that incurred no losses 20,283 20,947 15,915 5,625 20,283 20,947 15,915 5,625

Total 24,886 45,880 18,716 9,321 24,886 45,880 18,716 9,321


30

Losses on debt restructuring for the three-month period ended 31 March 2016 and 2015 were as follows:

(Million Baht) Consolidated Outstanding Debt Transferred Assets Loss on Before After Debt Types of Restructuring Cases Restructuring Restructuring Types Fair Value Restructuring 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Transfers of assets 5 4 3 9 - - Cash, land,

premises and investments

2 8 1 1

Changes of repayment conditions 4,593 2,791 24,553 2,891 24,553 2,891

- - - 850 216

Debt restructuring in various forms

5

6

377

796

167

452

Cash, land, premises and investments

210

344

5

232

Total 4,603 2,801 24,933 3,696 24,720 3,343 212 352 856 449

(Million Baht)

The Bank

Outstanding Debt Transferred Assets Loss on

Before After Debt

Types of Restructuring Cases Restructuring Restructuring Types Fair Value Restructuring

2016 2015 2016 2015 2016 2015 2016 2015 2016 2015

Transfers of assets 5 4 3 9 - - Cash, land,

premises and

investments

2 8 1 1

Changes of repayment

conditions

4,593

2,791

24,553

2,891

24,553

2,891

-

-

-

850

216

Debt restructuring in

various forms

5

6

377

796

167

452

Cash, land,

premises and

investments

210

344

5

232

Total 4,603 2,801 24,933 3,696 24,720 3,343 212 352 856 449


31

The Bank and its subsidiaries measure the expected recoverable amounts of loans restructured by changing repayment

conditions by using the present value of future cash flows discounted by the market rate.

The terms of debt restructuring agreements with debts which were restructured by changing the repayment conditions and

restructured in various forms and which resulted in losses on debt restructuring during the three-month period ended

31 March 2016 and 2015 are as follows:

(Million Baht)


2016 2015

Outstanding Debt Outstanding Debt

Terms of debt

restructuring

agreements Cases

Before

Restructuring

After

Restructuring

End of

period Cases

Before

Restructuring

After

Restructuring

End of

period

Less than 5 years 2,096 3,585 3,375 3,208 2,659 1,344 1,298 1,292

5 to 10 years 1,386 13,580 13,580 12,864 100 2,102 1,804 1,768

Over 10 years 1,116 7,765 7,765 7,501 38 241 241 239

Total 4,598 24,930 24,720 23,573 2,797 3,687 3,343 3,299

The Bank and its subsidiaries recognised interest income from restructured loans for the three-month period ended 31 March

2016 and 2015 as follows:

(Million Baht)


2016 2015 2016 2015

Debt restructuring contracts that incurred losses 629 265 629 265

The Bank had commitments to extend additional loans to these borrowers as follows:

(Million Baht)



Debt restructuring contracts that incurred losses 634 484


32

The Bank and its subsidiaries had outstanding balances on restructured loans that only incurred losses during the period/year

as follows:

(Million Baht)


31 March

2016

31 December

2015

31 March

2016

31 December

2015

Debt restructuring contracts which were not classified as NPL 23,474 25,050 23,474 25,050

Debt restructuring contracts which were classified as NPL 99 681 99 681

Total 23,573 25,731 23,573 25,731

The Bank and its subsidiaries had outstanding balances on restructured loans that only incurred losses as follows:

(Million Baht)


31 March

2016

31 December

2015

31 March

2016

31 December

2015

Debt restructuring contracts which were not classified as NPL 46,322 33,564 46,322 33,563

Debt restructuring contracts which were classified as NPL 1,088 1,513 1,066 1,491

Total 47,410 35,077 47,388 35,054


33

10 ALLOWANCE FOR DOUBTFUL ACCOUNTS

The movements in the allowance for doubtful accounts during the period/year were as follows:

(Million Baht)

Consolidated

31 March 2016

Pass

Special

Mention

Sub-

Standard

Doubtful

Doubtful

of Loss

Excess

Allowance

Allowances

from

Securities

Business

Allowances

from

Insurance

Business

Total

Balance at the beginning

of the period 5,271 194 5,841 8,211 10,487 30,687 46 164 60,901

Doubtful accounts 76 (38) (220) (666) 5,020 6,556 - 99 10,827

Bad debt written off - - - - (4,243) - - - (4,243)

Others - - - - 719 - - (4) 715

Balance at the end

of the period 5,347 156 5,621 7,545 11,983 37,243 46 259 68,200

(Million Baht)

Consolidated

31 December 2015

Pass

Special

Mention

Sub-

Standard

Doubtful

Doubtful

of Loss

Excess

Allowance

Allowances

from

Securities

Business

Allowances

from

Insurance

Business

Total

Balance at the beginning

of the year 5,360 154 3,359 4,883 11,766 21,751 45 116 47,434

Doubtful accounts (89) 40 2,482 3,328 9,761 8,936 1 58 24,517

Bad debt written off - - - - (10,160) - - - (10,160)

Others - - - - (880) - - (10) (890)

Balance at the end

of the year 5,271 194 5,841 8,211 10,487 30,687 46 164 60,901


34

(Million Baht)

The Bank

31 March 2016

Pass

Special

Mention

Sub-

Standard

Doubtful

Doubtful

of Loss

Excess

Allowance

Total

Balance at the beginning of the period 6,194 194 5,821 8,184 9,596 29,146 59,135 Doubtful accounts 58 (38) (220) (667) 4,884 6,513 10,530 Bad debt written off - - - - (4,195) - (4,195) Others - - - - 719 - 719 Balance at the end of the period 6,252 156 5,601 7,517 11,004 35,659 66,189

(Million Baht)

The Bank

31 December 2015

Pass

Special

Mention

Sub-

Standard

Doubtful

Doubtful

of Loss

Excess

Allowance

Total

Balance at the beginning of the year 6,310 153 3,345 4,868 10,971 20,475 46,122 Doubtful accounts (116) 41 2,476 3,316 9,460 8,671 23,848 Bad debt written off - - - - (9,957) - (9,957) Others - - - - (878) - (878) Balance at the end of the year 6,194 194 5,821 8,184 9,596 29,146 59,135

11 REVALUATION ALLOWANCE FOR DEBT RESTRUCTURING

The movements in the revaluation allowance for debt restructuring during the period/year were as follows:

(Million Baht) Consolidated The Bank 31 March 2016 31 December 2015 31 March 2016 31 December 2015 Balance at the beginning of the period/year 3,416 3,558 3,416 3,558

Increase 870 1,994 870 1,994

Amortisation to interest income (287) (599) (287) (599)

Others (680) (1,537) (680) (1,537)

Balance at the end of the period/year 3,319 3,416 3,319 3,416


35

12 CLASSIFIED ASSETS

Assets of the Bank and its subsidiaries, classified as investments, loans and accrued interest receivables (including

financial institutions), properties foreclosed and other assets, were categorised by quality in compliance with the BoT’s

regulations, taking into account analyses of each loan and appraisal of the financial standing of each borrower, as follows:

(Million Baht)

Consolidated

31 March 2016

Investments

Loans and Accrued

Interest Receivables

Properties

Foreclosed

Other Assets

Total

Pass - 1,800,752 - - 1,800,752

Special Mention - 30,358 - - 30,358

Sub-Standard - 12,066 - - 12,066

Doubtful - 17,067 - - 17,067

Doubtful of Loss 706 23,933 511 3,094 28,244

Total 706 1,884,176 511 3,094 1,888,487

(Million Baht)

Consolidated

31 December 2015

Investments

Loans and Accrued


Properties

Foreclosed

Other Assets

Total

Pass - 1,745,653 - - 1,745,653


Sub-Standard - 12,906 - - 12,906

Doubtful - 16,490 - - 16,490

Doubtful of Loss 822 20,241 572 3,123 24,758

Total 822 1,831,080 572 3,123 1,835,597


36

(Million Baht)

The Bank

31 March 2016

Investments

Loans and Accrued


Properties

Foreclosed

Other Assets

Total

Pass - 1,797,758 - - 1,797,758


Sub-Standard - 11,732 - - 11,732

Doubtful - 16,759 - - 16,759

Doubtful of Loss 2,400 22,707 441 3,094 28,642

Total 2,400 1,876,868 441 3,094 1,882,803

(Million Baht)

The Bank

31 December 2015

Investments

Loans and Accrued


Properties

Foreclosed

Other Assets

Total

Pass - 1,743,995 - - 1,743,995


Sub-Standard - 12,500 - - 12,500

Doubtful - 16,183 - - 16,183

Doubtful of Loss 2,688 19,104 498 3,123 25,413

Total 2,688 1,824,944 498 3,123 1,831,253

13 PREMISES AND EQUIPMENT – NET

During the period, the Bank completed the revaluation of its lands and buildings and issued such report to the

Bank of Thailand. The appraisal surplus on asset revaluation increased by Baht 4,660 million and the amount was

presented in changes in revaluation surplus in other comprehensive income. There was also a reversal of loss on

revaluation of premises of Baht 110 million. Such reversal was presented in premises and equipment expenses in

profit or loss.


37

14 DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIES

Deferred tax assets and liabilities are as follows:

(Million Baht)


31 March 2016 31 December 2015 31 March 2016 31 December 2015

Deferred tax assets 4,308 5,585 3,504 4,615 Deferred tax liabilities (1,900) (1,907) - -

Net 2,408 3,678 3,504 4,615

15 EMPLOYEE RETIREMENT BENEFITS

The Bank recognised Baht 2,250 million of actuarial losses from employee retirement benefits due to a change in the

discount rate, assumption for calculation of the Bank’s employee retirement benefits, which was presented in other

comprehensive income.

16 INSURANCE CONTRACT LIABILITIES

Insurance contract liabilities consisted of:

(Million Baht)

Consolidated


Long-term technical reserves 263,571 247,900

Others 4,058 3,547

Total 267,629 251,447

Long-term technical reserves

(Million Baht)

Consolidated

31 March 2016

Balance at the beginning of the period 247,900

Reserve increase from new and inforce policies in the period 20,966

Reserve released for benefits payment, lapse and cancellation

in the period

(5,295)

Balance at the end of the period 263,571


38

17 SHARE CAPITAL AND EARNINGS PER SHARE

The calculation of the consolidated and the Bank basic earnings per share for the three-month period ended 31 March

2016 was based on profit attributable to ordinary shareholders of Baht 9,646 million and Baht 8,613 million, respectively

(Year 2015: Baht 12,401 million and Baht 10,950 million, respectively) and the weighted average number of ordinary and

paid-up shares outstanding during the three-month period ended 31 March 2016 of 2,393,260,193 shares (Year 2015:

2,393,260,193 shares).

18 DIVIDEND PAYMENTS

On 30 March 2016, the Annual General Meeting of Shareholders of the Bank approved to pay a dividend from the

operating results of 2015 at the rate of Baht 4.00 per share, totaling Baht 9,573 million. The interim dividend was paid at

the rate of Baht 0.50 per share, totaling Baht 1,197 million, on 25 September 2015 and the remaining dividend was paid at

the rate of Baht 3.50 per share, totaling Baht 8,376 million, on 27 April 2016.

19 ASSETS PLEDGED AS COLLATERAL

Assets pledged as collateral consisted of:

(Million Baht)


31 March 2016 31 December 2015 31 March 2016 31 December 2015

Deposits 11,182 14,231 10,595 13,861

Government bonds 88,695 71,630 18,326 17,897

State enterprise bonds 48 48 48 48

Total 99,925 85,909 28,969 31,806

The Bank has pledged these assets as collateral for derivatives, for electricity consumption, for court collateral and for

repurchase agreements.


39

20 CONTINGENT LIABILITIES AND COMMITMENTS

Contingent liabilities and commitments consisted of:

(Million Baht)


31 March

2016

31 December

2015

31 March

2016

31 December

2015

Avals to bills 4,912 9,210 4,912 9,210

Guarantees of loans 9,575 11,246 9,575 11,246

Liability under unmatured import bills 15,328 15,721 15,328 15,721

Letters of credit 29,188 26,604 29,188 26,604

Other contingencies

- Guarantees of selling instruments or securities - 500 - 500

- Unused credit line of overdraft 240,767 236,400 241,076 236,708

- Other guarantees 246,815 236,767 246,815 236,767

- Others* 57,908 52,117 56,134 50,302

Total 604,493 588,565 603,028 587,058 *Including items contracted but not provided.

Under normal business operations, the Bank is a defendant in various litigations against the Bank. These include cases of

wrongful acts brought against the Bank, with total claims amounting to Baht 6,889 million and Baht 7,488 million as of

31 March 2016 and 31 December 2015, respectively. The Management believes that any liability resulting from these

litigations will not be material to the Bank’s financial position or on the results of its operations.

As of 31 March 2016 and 31 December 2015, Muang Thai Life Assurance Public Company Limited has been sued as

insurer, with claims amounting to approximately Baht 159 million and Baht 174 million, respectively. The Management

believes that any liability resulting from this litigation will not be material to the consolidated financial statements.


40

21 RELATED PARTY TRANSACTIONS AND BALANCES

Relationships between the Bank and related persons or entities consisted of subsidiaries, associated companies, key

management personnel(1), any parties related to key management personnel and the entities of which key management

personnel and any parties related have control and significant influence.

Arm’s length transactions occurring between the Bank and related persons or entities are fairly charged at market price as

normal business or the price as stipulated in the agreement.

Related party transactions and balances are as follows:

21.1 Assets, liabilities and contingencies between the Bank and related persons or entities summarised as follows:

(Million Baht) Consolidated The Bank

31 March 2016

31 December 2015

31 March 2016

31 December 2015

Interbank and Money Market Items (Assets) Subsidiaries - - 1,178 911 Loans (Including financial institutions) Subsidiaries - KASIKORN LEASING CO., LTD. - - 83,265 84,756 - Others - - 11,692 11,947 Other Related Entities 10,714 13,978 10,714 13,978 Other Related Persons 87 107 84 104 Other Assets Subsidiaries - - 1,704 1,111 Associated Company 27 40 27 40 Deposits (Including financial institutions) Subsidiaries - - 18,316 18,113 Associated Company 28 35 28 35 Other Related Entities 45,131 48,094 45,131 48,094 Other Related Persons 12,475 4,792 12,461 4,778 Other Liabilities Subsidiaries - - 284 412 Associated Company 13 11 13 11 Other Related Entities 11 89 11 89

(1) Key management means director, management who holds the title of at least First Senior Vice President including Department Head-

Financial Accounting Management Department and Department Head-Financial Planning Department.


41

(Million Baht)


31 March 2016

31 December 2015

31 March 2016

31 December 2015

Contingencies

Subsidiaries - - 1,022 1,355

Other Related Entities 11,183 14,045 11,183 14,045

Other Related Persons 2 2 2 2

Derivatives (notional amount)

Subsidiaries - - 7,752 7,752

Other Related Entities 18,914 10,528 18,914 10,528

Certain subsidiaries and associated companies have entered into 1-2 year building lease and service agreements with

the Bank. Rentals are charged at cost plus an increment for additional administration and maintenance expenditures

incurred. As of 31 March 2016 and 31 December 2015, the Bank and its related parties have rental agreements with

remaining tenures amounting to Baht 74 million and Baht 40 million, respectively.

The Bank have entered into an Information Technology service agreement with Kasikorn Business-Technology Group. As

of 31 March 2016 and 31 December 2015, the Bank has commitment to pay total service fees amounting to Baht 925 million

and Baht 1,146 million, respectively.


42

21.2 Revenue and expenses between the Bank and related persons or entities is summarised as follows:

(Million Baht) Consolidated

For the Three-Month Period Ended 31 March

The Bank For the Three-Month Period

Ended 31 March 2016 2015 2016 2015 Interest income Subsidiaries - - 731 841 Other income Subsidiaries - - 4,866 4,105 Associated Company 7 6 7 6 Interest expenses Subsidiaries - - 35 36 Other expenses Subsidiaries - - 1,446 1,246 Associated Company 56 46 56 46

The Bank has entered into a staff secondment agreement with KASIKORN SECURITIES PCL, commencing from January

2006. The agreement shall be terminated at any time by the Bank giving notice 60 days prior to the termination date. The

Bank is responsible for salaries, welfare and other benefits and any liabilities that arise or may arise from the actions of the

employees.

For the three-month period ended 31 March 2016 and 2015, the Bank incurred expenses amounting to Baht 397 million and

Baht 297 million, respectively, presented as personnel expenses in profit or loss.

21.3 Key management personnel(1) compensation

(Million Baht)

Consolidated

For the Three-Month Period

Ended 31 March

The Bank


Ended 31 March

2016 2015 2016 2015

Short-term employee benefits 378 383 232 247

Post-employment benefits 20 18 15 15

Total 398 401 247 262

(1) Key management means director, management who holds the title of at least First Senior Vice President including Department Head-

Financial Accounting Management Department and Department Head-Financial Planning Department.


43

22 SEGMENT INFORMATION

22.1 Information about reportable segments The Group has identified 4 main business groups for management reporting purposes. The business groups offer

different customers different products and services, and the groups’ performance is measured based on segment

operating profit before impairment loss on loans and debt securities and income tax expense.

Corporate Business KBank’s Corporate Business Customers include registered companies and certain private individual business

customers, government agencies, state enterprises, and financial institutions etc. KBank provides a variety of

financial products and services to these customers such as Long Term Loans, Working Capital, Letter of Indemnity,

Trade Finance Solutions, Syndicated Loans, Cash Management Solutions, and Value Chain Solutions.

Retail Business KBank’s Retail Business comprises individual customers who use KBank’s products and services such as Deposit

Account, Debit Card, Credit Card, Personal Loan, Housing Loan, Investment Product and Financial Advisory

Services, and Transactional Banking Services.

Treasury and Capital Markets Business The Treasury and Capital Markets Business comprises the Bank’s treasury and capital markets business with

activities mainly including funding, centralised risk management, investing in liquid assets, and foreign currency

exchange services. It also supervises the Bank’s business in overseas countries.

Muang Thai Group Holding Business Muang Thai Group Holding Business includes a group of companies that operates insurance and brokerage

businesses.

Others represent other items which are not directly attributable to the main business groups.


44

(Million Baht) Consolidated March 2016Ended 31 Month Period-ThreeFor the

Corporate Business

Retail Business

Treasury and Capital Markets

Business

Muang Thai Group Holding

Business

Others Elimination Total Interest income - net 10,967 7,051 1,650 2,954 (350) (72) 22,200

Non-interest income 5,913 8,657 1,157 960(1) 2,894 (2,030) 17,551

Total operating income - net 16,880 15,708 2,807 3,914 2,544 (2,102) 39,751

Total other operating expenses 5,339 7,361 468 1,220 1,617 (1,212) 14,793

Operating profit before impairment loss on loans and debt securities and income tax expense 11,541 8,347 2,339 2,694 927 (890) 24,958

Impairment loss on loans and debt securities

11,293

Operating profit before income tax expense

13,665

(Million Baht) Consolidated Month Period Ended 31 March 2015-For the Three

Corporate Business

Retail Business

Treasury and Capital Markets

Business

Muang Thai Group Holding

Business

Others Elimination Total Interest income - net 10,138 6,153 2,076 2,439 238 (69) 20,975

Non-interest income 5,096 8,069 473 923(1) 2,140 (1,417) 15,284

Total operating income - net 15,234 14,222 2,549 3,362 2,378 (1,486) 36,259

Total other operating expenses 5,297 7,775 454 1,098 1,934 (1,141) 15,417

Operating profit before impairment loss on loans and debt securities and income tax expense 9,937 6,447 2,095 2,264 444 (345) 20,842

Impairment loss on loans and debt securities

4,006

Operating profit before income tax expense

16,836


45

(Million Baht)

Consolidated

31 March 2016

Corporate

Business

Retail

Business

Treasury and

Capital Markets

Business

Muang Thai

Group Holding

Business

Others Elimination Total

Reportable segment - Loans(2) 1,092,262 416,471 5,804 13,913 180,086 (94,959) 1,613,577

Unallocated assets 1,030,132

Total assets 2,643,709

Deposits and bills of exchange(3) 555,669 1,197,578 6,856 - 218 (3,410) 1,756,911

(Million Baht)

Consolidated

31 December 2015

Corporate

Business

Retail

Business

Treasury and

Capital Markets

Business

Muang Thai

Group Holding

Business

Others Elimination Total

Reportable segment - Loans(2) 1,085,646 422,400 4,825 13,705 179,953 (96,642) 1,609,887

Unallocated assets 945,418

Total assets 2,555,305

Deposits and bills of exchange(3) 524,957 1,178,967 9,622 - 106 (3,964) 1,709,688

(1) Net of underwriting expenses (2) Loans = Loans to customers less deferred revenue (3) Excluding bills of exchange with embedded derivative

22.2 Information about geographical areas

The majority of the Bank’s business is generated from domestic operations. Accordingly, an analysis of

geographical segments is not disclosed.


46

23 INTEREST INCOME

Interest income consisted of:

(Million Baht)

Consolidated


Ended 31 March

The Bank


Ended 31 March

2016 2015 2016 2015

Interbank and money market items 1,401 752 1,327 647

Investments and trading transactions 62 88 62 88

Investments in debt securities 3,389 3,894 773 1,745

Loans 22,669 22,512 23,030 23,032

Hire purchase and financial lease 1,263 1,285 - -

Others 3 - - -

Total 28,787 28,531 25,192 25,512

24 INTEREST EXPENSES

Interest expenses consisted of:

(Million Baht)

Consolidated


Ended 31 March

The Bank


Ended 31 March

2016 2015 2016 2015

Deposits 3,282 4,435 3,282 4,437

Interbank and money market items 454 421 467 425

Contributions to Financial Institutions Development

Fund and Deposit Protection Agency 1,936 1,866 1,936 1,866

Debts issued

- Subordinated debentures 620 499 620 499

- Others 271 307 271 307

Others 24 28 - -

Total 6,587 7,556 6,576 7,534


47

25 GAIN ON INVESTMENTS

Gain on investments presented in the statements of profit or loss and other comprehensive income consisted of:

(Million Baht)

Consolidated


Ended 31 March

The Bank


Ended 31 March

2016 2015 2016 2015

Gain (loss) on disposal

Available-for-sale investments 246 275 22 53

Held-to-maturity debt instruments (62) - - -

General investments 742 12 741 11

Investments in subsidiaries and associates - - 29 -

Total 926 287 792 64

Reversal on impairment

Investments in subsidiaries and associates - - 172 -

Total - - 172 -

Total gain on investments 926 287 964 64


48

26 GAIN (LOSS) ARISING FROM TRANSLATING THE FINANCIAL STATEMENTS OF A FOREIGN OPERATION

Gain (loss) arising from translating the financial statements of a foreign operation consisted of:

(Million Baht)

Consolidated


Ended 31 March

2016 2015

Loss arising from translating the financial statements of

a foreign operation (486) (201)

Gain from hedging instrument 374 131

Total (112) (70)

(Million Baht)

The Bank


Ended 31 March

2016 2015

Loss arising from translating the financial statements of

a foreign operation (441) (171)

Gain from hedging instrument 325 116

Total (116) (55)


49

27 FAIR VALUE OF ASSETS AND LIABILITIES

The Bank and its subsidiaries measure fair values using the following fair value hierarchy, which reflects the significance

of the inputs used in making the measurements.

Level 1 Quoted prices in active markets for identical assets or liabilities.

Level 2 Inputs other than quoted prices included within level 1 that are observable, either directly or indirectly. This

category includes instruments valued using quoted prices in active markets for similar instruments, quoted

prices for similar assets or liabilities in markets that are less than active, or other valuation techniques which

are directly or indirectly observable from market data.

Level 3 Inputs that are unobservable. This category includes assets or liabilities for which the valuation technique

includes inputs not based on observable data and the unobservable inputs have a significant impact on the valuation.

A transfer between the hierarchy occurs when the source or level of observability of input data in fair value measurement

has changed.


50

27.1 Financial assets, financial liabilities, and derivatives measured at fair value

The fair value hierarchy of financial instruments measured at fair value on a recurring basis as of 31 March 2016 and

31 December 2015 are as follows:

(Million Baht)

Consolidated


Level 1 Level 2 Total Level 1 Level 2 Total

Financial Assets

Derivative assets

- Exchange rate - 17,779 17,779 - 21,892 21,892

- Interest rate - 11,886 11,886 - 9,132 9,132

- Others 8 250 258 3 359 362

Trading investments 787 28,339 29,126 489 11,234 11,723

Available-for-sale investments 28,459 169,177 197,636 26,809 188,556 215,365

Total Financial Assets 29,254 227,431 256,685 27,301 231,173 258,474

Financial Liabilities

Financial liabilities designated at

fair value through profit or loss - 21 21 - 39 39

Derivative liabilities

- Exchange rate - 18,509 18,509 - 20,939 20,939

- Interest rate - 11,879 11,879 - 8,789 8,789

- Others 23 257 280 15 336 351

Total Financial Liabilities 23 30,666 30,689 15 30,103 30,118


51

(Million Baht)

The Bank


Level 1 Level 2 Total Level 1 Level 2 Total

Financial Assets

Derivative assets

- Exchange rate - 18,162 18,162 - 22,590 22,590

- Interest rate - 11,886 11,886 - 9,132 9,132

- Others - 228 228 - 347 347

Trading investments - 28,375 28,375 - 11,234 11,234

Available-for-sale investments 5,844 142,935 148,779 5,739 162,239 167,978

Total Financial Assets 5,844 201,586 207,430 5,739 205,542 211,281


Financial liabilities designated at

fair value through profit or loss - 21 21 - 39 39

Derivative liabilities

- Exchange rate - 18,944 18,944 - 21,113 21,113

- Interest rate - 11,879 11,879 - 8,789 8,789

- Others - 253 253 - 335 335

Total Financial Liabilities - 31,097 31,097 - 30,276 30,276

During the current period, due to changes in market conditions, there were transfers of financial assets measured at

fair value of the bank’s subsidiaries from level 1 to level 2 amounting to Baht 875 million and transfers from level 2 to

level 1 amounting to Baht 689 million.

The valuation techniques for level 2 of recurring fair value measurements are as follows:

The fair values of derivatives and structure notes are determined based upon liquid (observable) market prices,

reference to exchange traded prices, broker or dealer quotations, prices of other similar transactions or prices

derived by using a valuation technique incorporating observable market data which is adjusted with counterparty

credit risk (excluding own credit risk) and other risks to reflect true economic value.

Investments in marketable equity securities classified as trading investments and available-for-sale investments

considered to be inactive, are stated at fair value based on the last bid prices of the Stock Exchange of Thailand

(SET) or the closing price of the stock exchange they are listed as of the reporting date.


52

Investments in marketable unit trusts classified as trading investments and available-for-sale investments are stated

at fair value based on the net asset value as of the reporting date.

Investments in government debt securities and state enterprises debt securities guaranteed by the government,

classified as trading investments and available-for-sale investments, are stated at fair value based on the Thai Bond

Market Association Government Bond Yield Curve as of the reporting date. State enterprises debt securities not

guaranteed by the government and private debt instruments are stated at fair value based on bid prices from the

Thai Bond Market Association as of the reporting date. If not available, the Government Bond Yield Curve for the

same period is used, adjusted by an appropriate risk premium.

Investments in marketable foreign bonds classified as available-for-sale investments are stated at fair value based

on bid prices from Bloomberg. If not available, indicative price from custodian is used.

The Bank and its subsidiaries measure the fair value of financial assets separately from financial liabilities. However,

in cases where the Bank and its subsidiaries manage either market risk or credit risk on a portfolio basis, the Bank

and its subsidiaries measure the fair value of those groups of financial instruments on a net basis.

27.2 Financial assets, financial liabilities and derivative are not measured at fair value

Fair value of financial instruments which are not measured at fair value and for which there is a significant difference

with carring value as of 31 March 2016 and 31 December 2015 are as follows:

(Million Baht)

Consolidated


Carrying Amount Fair Value Carrying Amount Fair Value

Financial Assets

Derivative assets (Banking book)

- Exchange rate 814 780 445 328

- Interest rate - 459 - 271

Held-to-maturity investments 253,958 302,782 248,272 269,093

Total Financial Assets 254,772 304,021 248,717 269,692


Derivative liabilities (Banking book)

- Exchange rate 2,573 1,833 3,489 3,171


Debts issued and borrowings 89,676 92,995 85,578 88,122

Total Financial Liabilities 92,249 95,160 89,067 91,489


53

(Million Baht)

The Bank


Carrying Amount Fair Value Carrying Amount Fair Value

Financial Assets

Derivative assets (Banking book)

- Exchange rate 814 780 445 328


Held-to-maturity investments 23,098 23,214 32,254 32,265

Total Financial Assets 23,912 24,438 32,699 32,864


Derivative liabilities (Banking book)

- Exchange rate 989 1,374 1,463 1,667


Debts issued and borrowings 89,441 92,761 85,382 87,927

Total Financial Liabilities 90,430 94,467 86,845 89,787

kasikornbank public company limited and its subsidiaries · less revaluation allowance for debt...

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