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Annual Report 2018

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Annual Report 2018 Annual Report 2018 Contents 04 Milestone 155 Personnel 06 Awards and Ranking 161 Corporate Governance Policy 08 Financial Highlights and Practices 10 Message from the Board of Directors 187 Supervision of Subsidiaries 15 Vision and Mission and Affiliates 16 Policy and Business Overview 188 Supervision of Usage of 33 Business Operations Internal Information 63 Risk Factors 189 Auditor’s Remuneration 72 General Information 190 Internal Controls 76 Securities and Shareholders 197 Related Party Transactions Information 201 Report of the Board of 82 Dividend Policy Director’s Responsibility for 83 Organization Structure Financial Statements 84 Management Structure 202 Report of the Audit Committee 98 Nomination and Appointment of 204 Report of the Nomination Directors and Executives and Remuneration Committee 100 Remuneration of Directors and 206 Report of the Compliance and Executives Governance Committee 108 Profiles of the Directors, Executives, 208 Report of the Risk Management Controlling Persons and Committee Corporate Secretary 209 Report of the Executive Committee 152 Directorship of Directors and 211 Management Discussion Executives in Subsidiaries, and Analysis Associated Companies 223 Credit Rating and Related Companies 224 Independent Auditor’s Report 154 Directors of Subsidiaries 231 Financial Statements 240 Notes to the Financial Statements Please see Corporate Social Responsibility Report 2018. Renewable electricity from Hydropower Milestone Kiatnakin Phatra Financial Group 1971 1972 1993 Kiatnakin Finance and Phatra Thanakit Finance and Kiatnakin Finance and Securities Company Securities Public Company Securities Company Limited was founded by Limited was founded. Limited went public. Mr. Kiat Wattanavekin. 1997 1998 • Kiatnakin Finance and Securities Public Kiatnakin Finance and Securities Public Company Limited along with other 57 financial Company Limited was granted permission institutions were temporarily discontinued by the Ministry of Finance to resume because of the 1997 Asian Financial Crisis. business. • Phatra Securities Company Limited was founded to separate Phatra Thanakit Finance and Securities Public Company Limited’s finance and securities businesses. 1999 2005 2010 • Kiatnakin Finance Public Phatra Capital Public Company Limited became Company Limited was set up Kiatnakin Bank Public as a holding company to Company Limited. engage in investment • Phatra Securities Public business and hold shares Company Limited listed in Phatra Securities Public its shares with the Stock Company Limited. Kiatnakin Finance and Exchange of Thailand. Securities Public Company Limited also separated its finance and securities businesses. 2012 - 2013 Kiatnakin Bank Public Company Limited and Phatra Capital Public Company Limited announced the completion of a merger to form Kiatnakin Phatra Financial Group on September 13, 2012. The merger aims to combine both organizations’ expertise to attain excellence in financial service for the benefit of all customers, employees, shareholders, as well as to contribute to the development of the country’s financial market and overall economy 1 August 2013 Kiatnakin Phatra Financial Group by Kiatnakin Bank Public Company Limited officially changed its stock trading ticker to KKP. Awards and Ranking “A-” Thailand Sustainability Investment 2018 Rated ‘A-’ with ‘Stable’ outlook by TRIS Rating Co.,Ltd. Listed by the SET for the fourth consecutive year as one of the 79 companies chosen as ‘Thailand Sustainability Investment Best Commercial Bank Thailand 2018 2018’ for the bank’s commitment to promote stockholders’ Received the ‘Best Commercial Bank Thailand 2018’ award confidence by creating a sustainable organization under from The International Banker 2018 Asia Awards for continued policies which prioritize environmental and social impact, excellence in management, performance, and development of and good governance (ESG) product and service channels which correspond with clients’ demands. This award was organized by The International ESG100 Listing Banker magazine. Listed as a ESG100 company by Thaipat Institute’s ESG Rating Unit for the fourth consecutive year for outstanding Power Deal of the Year Award performance in promoting sustainable growth under ESG Received ‘Power Deal of the Year Award’ together with three criteria other commercial banks, as the arranger in a syndicated loan deal for Top SPP Co.,Ltd. at The Asset Triple A Asia Pilot Company of Financial Discipline Creation Campaign Award Infrastructure Awards 2018, organized by The Asset, Southeast One of 18 pilot enterprises and the only financial institution to Asia’s leading financial market and investment magazine be awarded in the Financial Discipline Creation Campaign, organized by six organizations the Ministry of Social Development SMEs Excellence Awards 2018 (Platinum and Gold Award) and Human Security, The Federation of Business and Professional Received ‘Platinum Award and Gold Award’ for remarkable Women of Thailand under the Royal Patronage of Her Majesty promotion of sustainable growth for clients’ businesses from the Queen (BPW Thailand), The Stock Exchange of Thailand, the SMEs Excellence Awards 2018, organized by the Thailand Thai Chamber of Commerce, The Thai Bankers Association, Management Association and National Council for Child and Youth Development under the Royal Patronage of Her Royal Highness Princess Mahachakri “Excellent” Rating in Governance Survey 2018 Sirindhorn Rated ‘Excellent’ in cooperate governance scoring in the Annual Corporate Governance Survey for 2018 (CGR), organized by Thai Institute of Directors Association (Thai IOD) Best Broker Award in Thailand 2018 SET Awards 2018 – Award for Outstanding Financial Received the Best Broker Award in Thailand for the sixth year Transactions in Capital Markets (Deal of the Year Awards) for outstanding performance and leadership in securities Received an award for outstanding financial transactions in and derivatives brokerage service at the Country Awards for the capital markets (Deal of the Year Awards) for its role as Achievement 2018, organized by FinanceAsia, the leading financial advisor in the conversion of property mutual fund finance magazine in Asia for TICON Industrial Connection Public Company Limited Group by using TICON Freehold and Leasehold Real Estate Best Investment in Thailand 2018 Award (the sixth year) Investment Trust (TREIT) to support the conversion at the SET Best M&A House in Thailand 2018 Award (the third year) Awards 2018, organized by the Stock Exchange of Thailand Best Private Wealth Management 2018 Award (the fourth year) and Money and Banking Magazine Received awards for being the leading investment banking business, an outstanding financial advisor, and an organization Fund House Awards Domestic Equity 2018 which offers services which answers clients’ needs at the Received Best Fund House Awards Domestic Equity 2018 12th Annual Financial Institution Awards, organized by Alpha awards for the company’s stability in return generation, Southeast Asia long-term investment risk and equality in fund management, from Morningstar Thailand Fund Award 2018, organized by Best Structured Products House Thailand 2018 the Stock Exchange of Thailand, Association of Investment Received an award for the company’s internationally recognized Management Company (AIMC) and Morningstar (Thailand) ability to provide sophisticated investment services and products Company Limited. for various market conditions from The Asset Triple A Private Banking Wealth Management, Investment, and ETF Awards Best Mutual Fund of the Year 2018 2018, organized by The Asset, Southeast Asia’s leading financial Received the Best Mutual Fund of the Year 2018 award in market and investment magazine Retirement Mutual Fund Group (RMF Equity) for the company’s outstanding performance throughout the year, announced SET Awards 2018 - Outstanding Securities Company Awards by Money and Banking Magazine. Received the Outstanding Securities Company Awards, an award which uses both qualitative and quantitative information for its evaluation process, for the company’s outstanding performance in securities brokerage service and comprehensive analysis at the SET Awards 2018, jointly organized by the Stock Exchange of Thailand and Money and Banking Magazine Annual Report 2018 08 Kiatnakin Phatra Financial Group Financial Highlight The Consolidated Financial Statements (Baht Million) Financial Position 2016 2017 2018 Investment in receivables (net) 2,554 2,170 1,770 Loans (net deferred revenue) 176,354 192,107 227,896 Allowance for doubtful accounts & troubled debt restructuring (10,966) (10,576) (10,760) Total assets 233,776 259,335 306,329 Deposits 109,923 132,878 181,694 Debt issued and borrowings 56,055 56,658 49,008 Total liabilities 193,259 217,787 263,989 Total equity of the Bank 40,298 41,332 42,180 Comprehensive Income Net interest income 10,433 10,628 11,262 Fees and services income (net) 3,707 4,055 4,579 Gain from sale of foreclosed assets 545 (209) (238) Total operating income 16,156 16,298 18,103 Total operating expenses 7,352 8,578 9,470 Impairment loss of loans and debt securities 2,313 763 1,245 Profit from operating before income tax expenses 6,490 6,956 7,387 Net profit (attributable to equity holder of the Bank) 5,547 5,737 6,042 Financial Ratio Return on average equity 14.2 14.1 14.5 Return on average assets 2.4 2.3 2.1 Loan spread 4.9 5.2 5.0 Loan to deposit and borrowing 106.3 101.8 99.1 NPL to total loans 5.6 5.0 4.1 Loan loss reserve to NPL 110.1
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