KBank’s net profit up 42.71% to $456.16m as Middle East conflict yet to bite

The increased economic uncertainty may pose risks to its future operating performance.

KASIKORNBANK’s (KBank) net profit attributable to equity holders rose 42.71% year-on-year (YoY) to $456.16m (THB14.67b) in Q1 2026, its latest financial results showed.

Excluding a one-time compensation income from $45.09m (THB1.45b) investment, KBank’s net profit would have declined 2.99% YoY to $416.03m (THB13.38b), the Thai bank said.

KBank’s net profit has not yet reflected the impact of geopolitical tensions in the Middle East, it said in a statement.

“As these tensions are expected to be prolonged, economic uncertainty has increased, which may pose risks to future operating performance,” KBank warned.

Net operating income rose 3.49% to $1.54b (THB49.52b) during the quarter, whilst net interest income fell 9.79% YoY to $993.75m (THB31.96b).

Net interest margin (NIM) stood at 2.95%

Net fee and service income rose 6.1% YoY to nearly $310.62m (THB9.99b).

Total other operating expenses declined 16.28% YoY to $599.48m (THB19.28b).

Basic earnings per share is THB6.24 for the quarter, higher than the THB4.34 in Q1 2025.

(US$1 = THB32.16)