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Summary of the Financial Information from the Annual Report for the Year Bangkok Bank Public Company Limited Head Office 333 Silom Road, Silom, Bang Rak, Bangkok 10500, Thailand Bualuang Phone 1333 Summary of the Financial Information from the Annual Report for the year 2020 Bangkok Bank Public Company Limited This report was produced from environmentally-friendly materials – paper from well managed forest and soy ink. Annual Report 2020 Sustainability Report 2020 Bangkok Bank Public Company Limited Bangkok Bank Public Company Limited Summary of the Financial Information from the Annual Report for the year 2020 — Bangkok Bank Public Company Limited 1 CONTENTS 2 _ Financial Performance Indicators (Consolidated) 3 _ Message from the Chairman, the Executive Chairman and the President 6 _ Report of the Independent Certified Public Accountants 10 _ Financial Statements 18 _ Management Discussion and Analysis 2 Summary of the Financial Information from the Annual Report for the year 2020 — Bangkok Bank Public Company Limited Summary of the Financial Information from the Annual Report for the year 2020 — Bangkok Bank Public Company Limited FINANCIAL PERFORMANCE INDICATORS (CONSOLIDATED) Percentage Changes 2020 2019 2018 2020/2019 2019/2018 Financial Position (Million Baht) As At 31 December Assets 3,822,960 3,216,743 3,116,750 + 18.8 + 3.2 Loans 2,368,238 2,061,309 2,083,160 + 14.9 - 1.0 Loans (less allowance for expected credit losses) 2,182,672 1,887,033 1,930,157 + 15.7 - 2.2 Deposits 2,810,863 2,370,792 2,326,470 + 18.6 + 1.9 Liabilities 3,372,713 2,788,627 2,703,591 + 20.9 + 3.1 Shareholders’ equity /1 449,014 427,751 412,814 + 5.0 + 3.6 Operating Results (Million Baht) For The Year Ended 31 December Net interest income 77,046 71,071 71,376 + 8.4 - 0.4 Non-interest income 41,682 62,675 50,025 - 33.5 + 25.3 Operating expenses 65,974 54,963 55,165 + 20.0 - 0.4 Profit before provision and tax 52,754 78,783 66,236 - 33.0 + 18.9 Profit before tax 21,558 46,432 44,271 - 53.6 + 4.9 Net profit /1 17,181 35,816 35,330 - 52.0 + 1.4 Per Share (Baht) Profit before tax 11.29 24.32 23.19 - 53.6 + 4.9 Net profit /1 9.00 18.76 18.51 - 52.0 + 1.4 Par value 10.00 10.00 10.00 - - Book value /1 235.23 224.09 216.26 + 5.0 + 3.6 Share prices - range 163.50 - 88.00 215.00 - 151.50 218.00 - 184.50 - year ended 118.50 160.00 203.00 - 25.9 - 21.2 Financial Ratio (%) Loan to deposit 84.3 86.9 89.5 - 2.6 - 2.6 NPL to total loans /2 3.9 3.4 3.4 + 0.5 - Allowance for expected credit losses to NPL /2 186.8 220.2 190.9 - 33.4 + 29.3 Return on average assets /1 0.48 1.13 1.13 - 0.65 - Return on average equity /1 3.96 8.45 8.73 - 4.49 - 0.28 Net interest margin (NIM) 2.24 2.35 2.40 - 0.11 - 0.05 Cost to income 55.6 41.1 45.4 + 14.5 - 4.3 Tier 1 capital adequacy ratio 15.76 17.01 16.43 - 1.25 + 0.58 Total capital adequacy ratio 18.34 20.04 17.96 - 1.70 + 2.08 Remark : /1 Attributable to owners of the Bank /2 Including interbank and money market lending Summary of the Financial Information from the Annual Report for the year 2020 — Bangkok Bank Public Company Limited Summary of the Financial Information from the Annual Report for the year 2020 — Bangkok Bank Public Company Limited 3 MESSAGE FROM THE CHAIRMAN, THE EXECUTIVE CHAIRMAN AND THE PRESIDENT — We are committed to our core values and purpose aspiring to be a trusted partner and reliable close friend and to ensuring we live up to these values by helping people emerge stronger. — Overview Creating Value Together We faced an unprecedented year in 2020 as the Coronavirus Creating Value Together is an essential factor to move forward Disease 2019 (Covid-19) pandemic severely affected people, because we believe that collaborating with each other provides livelihoods, businesses and economies around the world. The us with the greatest opportunity to overcome our challenges. As human impacts of this global public health crisis were amplified a trusted partner, we are ready to create value for customers by by the public and policy responses implemented in various focusing on the following three sub-themes: countries to limit the transmission of the disease and the corresponding economic damage from lockdowns, the closing Puan Koo Kit / Trusted Partner Bangkok Bank has always of borders and the reduction in trade and exports. focused on building long-term, trust-based relationships with our staff, customers and other stakeholders. We have prioritized In Thailand — which has been quite effective in controlling the health of our employees and customers throughout the the Covid-19 situation thanks to steadfast responses from the crisis and implemented enhanced health and safety protocols public, business and government — working people, SME and as well as split teams in split sites and work from home policies. companies operating in the tourism and hospitality sectors, and Furthermore, our people have made every effort to stay close related supply chains, have been hardest hit by the fallout from to customers, understand their business challenges and provide the pandemic. them with advice and the financial support they need to navigate the crisis. We have worked with the government and related Our thoughts go out to all customers in Thailand and across our agencies to provide support measures to retail and business network as well as related parties who are facing challenges as customers that included loans to businesses affected by the a result of the pandemic. We will strive to help them overcome pandemic under the Bank of Thailand’s soft loan scheme. We these difficulties and to develop the robustness and resilience have also made donations to a number of government hospitals needed to emerge from the recovery in a stronger position. The to support their initiatives to combat Covid-19. Bank is committed to our core values and purpose — notably, “puan koo kit mit koo baan”, aspiring to be a trusted partner Regional Expansion We have leveraged our position as and reliable close friend — and to ensuring we live up to these Thailand’s leading international bank to help business clients values by helping people emerge stronger. seek growth opportunities across Southeast Asia. The acquisition of, and integration with, PermataBank will enable us to connect We completed our landmark acquisition of PT Bank Permata clients with more opportunities in Indonesia, the region’s Tbk (PermataBank) in Indonesia in May 2020 with our stake largest economy and one of the fastest growing economies in in PermataBank rising to 98.71 percent after conducting the world. We have also strengthened our position in other key a mandatory tender offer in October. This was the largest markets, such as Vietnam, where we helped facilitate significant international acquisition by a Thai bank, and a move that further investments in the renewable energy sector among other strengthened Bangkok Bank’s position as having the largest activities, as well as China. As the Covid-19 situation eases, network of overseas branches of any Thai bank. Bangkok Bank business opportunities in Southeast Asia will become even more Indonesia’s branch offices, staff and customer base officially attractive. This is consistent with our commitment to supporting integrated with PermataBank in December. This investment the business expansion and diversification of supply chain risks enables Bangkok Bank to render more extensive banking among customers and investors in the region. services in Indonesia and our customers to access enhanced business opportunities. It will also connect PermataBank with our regional and international networks and help its customers explore growth opportunities outside of their home market. 4 Summary of the Financial Information from the Annual Report for the year 2020 — Bangkok Bank Public Company Limited Summary of the Financial Information from the Annual Report for the year 2020 — Bangkok Bank Public Company Limited — To meet customer's needs, we are accelerating our transition towards being a digital bank and data-driven organization. — Operating environment Digital Transformation The pandemic has accelerated the Thailand entered recession in 2020 due to the combined effects digitalization of many banking services, as well as other internal of the pandemic, partial lockdowns, a freeze on international processes. Customers are increasingly using digital and cashless travel and a global economic downturn which had particularly banking and payment services rather than visit a branch or other detrimental effects on tourism and export-related industries. The physical touchpoints as digital adoption has surged in Thailand. tourism and export-related sectors were worst affected. These To meet these needs, we are accelerating our transition towards factors further dragged down an already sluggish domestic being a digital bank and data-driven organization. Highlights economy which was suffering from the fallout from the US- during the year included launching our new mobile banking China trade war on Thailand’s export-driven economy prior to platform, Bangkok Bank Mobile Banking, using enterprise the Covid-19 pandemic. However, there were positive signs of blockchain to send a digital letter of credit for a trade finance a recovery by year-end. customer from Vietnam to Thailand, developing a chatbot in the Thai language that specializes in the financial sector, and using Despite the economic contraction in 2020, the Bank reported facial recognition for new account opening.
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