Kasikornbank
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Annual Report 2013 KASIKORNBANK w0XOWL&RUSRUDWH%XVLQHVVw/DUJH&RUSRUDWH%XVLQHVVw0HGLXP%XVLQHVV w6PDOODQG0LFUR%XVLQHVVw+LJK1HW:RUWK,QGLYLGXDOw$IIOXHQWw0LGGOH,QFRPHw0DVV Mission KASIKORNBANK CKOUVQDGCUVTQPIHKPCPEKCNKPUVKVWVKQP VJCVRTQXKFGUCXCTKGV[QHHKPCPEKCNUGTXKEGUQHYQTNFENCUUSWCNKV[ TGURQPUKXGVQEWUVQOGTU¿PGGFUD[JCTOQPKQWUN[EQODKPKPI VGEJPQNQI[CPFJWOCPTGUQWTEGUUQCUVQCEJKGXGQRVKOCN DGPGHKVUHQTEWUVQOGTUUJCTGJQNFGTUGORNQ[GGUCPFUQEKGV[ Vision KASIKORNBANKCKOUVQDGVJGUVTQPIGUV VJGOQUVKPPQXCVKXGCPFVJGOQUVRTQCEVKXGHKPCPEKCN KPUVKVWVKQPKPUGTXKPIEWUVQOGTU Core Values Æ%WUVQOGT%GPVTKEKV[ Æ1TICPK\CVKQP9KFG6GCOYQTM Æ2TQHGUUKQPCNKUO Æ+PPQXCVKQP 002 Financial Highlights (Consolidated Financial Statements) #007#.4'2146 As of or for the years ended December 31, 2013 2012 2011 2010 2009 COMMON SHARE INFORMATION 2GTUJCTG $CJV ÆDCUKEGCTPKPIU 17.27 ÆDQQMXCNWG 91.60 ÆFKXKFGPFU 3.50 5JCTGRTKEG $CJV ÆJKIJ 225.00 ÆNQY 156.00 ÆENQUKPI 156.00 %QOOQPUJCTGUQWVUVCPFKPI ÆCXGTCIGDCUKE OKNNKQPUJCTGU 2,393.26 ÆGPFQH[GCT OKNNKQPUJCTGU 2,393.26 /CTMGVECRKVCNK\CVKQP /KNNKQP$CJV 373,349 VALUE MEASURES 2TKEGVQGCTPKPIUTCVKQ 2'4 9.03 2TKEGVQDQQMXCNWGTCVKQ 2$8 1.70 &KXKFGPF[KGNF DCUGFQPENQUKPIUJCTGRTKEG 2.24% &KXKFGPFRC[QWVTCVKQ 22.32% 0WODGTQHGORNQ[GGU 19,303 0WODGTQHFQOGUVKEDTCPEJGUCPFUWDQHÌEGU 965 OPERATING RESULTS (Million Baht) +PVGTGUVKPEQOGPGV 72,797 0QPKPVGTGUVKPEQOG 48,153 (GGUCPFUGTXKEGKPEQOGPGV 29,443 1VJGTKPEQOG 67,395 7PFGTYTKVKPIGZRGPUGU 48,685 6QVCNQRGTCVKPIKPEQOGPGV 120,950 6QVCNQVJGTQRGTCVKPIGZRGPUGU 52,903 +ORCKTOGPVNQUUQPNQCPUCPFFGDVUGEWTKVKGU 11,744 1RGTCVKPIRTQÌVDGHQTGRTQXKUKQPGZRGPUGCPFKPEQOGVCZGZRGPUG 68,047 0GVRTQÌV 41,325 FINANCIAL POSITION STATEMENT INFORMATION (Million Baht) .QCPU 1,438,978 #NNQYCPEGHQTFQWDVHWNCEEQWPVUCPFTGXCNWCVKQPCNNQYCPEGHQTFGDVTGUVTWEVWTKPI 45,099 0QPRGTHQTOKPINQCPUPGV 02.PGV 14,664 0QPRGTHQTOKPINQCPUITQUU 02.ITQUU 33,525 6QVCNCUUGVU 2,290,045 &GRQUKVU 1,529,835 6QVCNNKCDKNKVKGU 2,053,038 6QVCNGSWKV[ 219,232 4KUMYGKIJVGFCUUGVU 1,508,096 Note Æ (KPCPEKCNUVCVGOGPVUCUCV&GEGODGTCPFJCXGDGGPTGENCUUKÌGFVQDGRTGUGPVGFKPQTFGTVQEQORN[YKVJ6JCK(KPCPEKCN4GRQTVKPI5VCPFCTFUCPFVJG$CPMQH6JCKNCPF $Q6 PQVKÌECVKQPPWODGT5QT0QT5QTFKTGEVKXGFCVGF&GEGODGTTGICTFKPIÁ6JGRTGRCTCVKQPCPFCPPQWPEGOGPVQHVJGÌPCPEKCNUVCVGOGPVUQHEQOOGTEKCNDCPMUCPF JQNFKPIEQORCPKGUYJKEJCTGRCTGPVEQORCP[QHITQWRQHEQORCPKGUQHHGTKPIÌPCPEKCNUGTXKEGUÂ Æ 6JG&GEGODGTEQPUQNKFCVGFÌ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et profit 2013 41,325 NPL Gross to 3.76% 7PKVU/KNNKQP$CJV Total Loans 2.91% 2012 35,260 7PKVU6TKNNKQP$CJV 2.45% 2.16% 2.11% 2011 24,226 1.21 1.33 1.44 0.94 1.08 2010 20,047 02.ITQUUVQVQVCNNQCPU 2009 14,733 .QCPU 2009 2010 2011 2012 2013 Total assets 1.44 Total liabilities 1.53 7PKVU6TKNNKQP$CJV 2013 7PKVU6TKNNKQP$CJV 2013 2012 1.33 2012 1.39 2011 1.21 2011 1.24 2010 1.08 2010 1.10 6QVCNCUUGVU 6QVCNNKCDKNKVKGU .QCPU 2009 0.94 &GRQUKVU 2009 0.98 As of or for the years ended December 31, 2013 2012 2011 2010 2009 PERFORMANCE INDICATORS 0GVKPVGTGUVOCTIKP 0+/ 3.55% 0QPKPVGTGUVKPEQOGVQCXGTCIGCUUGVU 2.21% 0QPKPVGTGUVKPEQOGTCVKQ 39.81% 'HHKEKGPE[TCVKQ 43.74% 4GVWTPQPCXGTCIGCUUGVU 41## 1.89% 4GVWTPQPCXGTCIGGSWKV[ 41#' 20.45% ASSET QUALITY RATIOS / FINANCIAL POLICY RATIOS .QCPUVQFGRQUKVUTCVKQ 94.06% .QCPUVQFGRQUKVUCPF$'TCVKQ 92.92% 6KGTECRKVCNTCVKQ6JG$CPM 12.02% %CRKVCNCFGSWCE[TCVKQ6JG$CPM 15.25% 6KGTECRKVCNTCVKQ-#5+-140$#0-(+0#0%+#.%10).1/'4#6' 12.57% 0# %CRKVCNCFGSWCE[TCVKQ-#5+-140$#0-(+0#0%+#.%10).1/'4#6' 15.78% 0# 02.PGVVQVQVCNNQCPU 0.93% 02.ITQUUVQVQVCNNQCPU 2.11% 2TQXKUKQPGZRGPUGVQCXGTCIGNQCPU %TGFKVEQUV 0.85% 6QVCNCNNQYCPEGVQNQCPU 3.13% 6QVCNCNNQYCPEGVQ02.ITQUU %QXGTCIGTCVKQ 134.52% Note Æ (KPCPEKCNUVCVGOGPVUCUCV&GEGODGTCPFJCXGDGGPTGENCUUKÌGFVQDGRTGUGPVGFKPQTFGTVQEQORN[YKVJ6JCK(KPCPEKCN4GRQTVKPI5VCPFCTFUCPFVJG$CPMQH6JCKNCPF $Q6 PQVKÌECVKQPPWODGT5QT0QT5QTFKTGEVKXGFCVGF&GEGODGTTGICTFKPIÁ6JGRTGRCTCVKQPCPFCPPQWPEGOGPVQHVJGÌPCPEKCNUVCVGOGPVUQHEQOOGTEKCNDCPMUCPF JQNFKPIEQORCPKGUYJKEJCTGRCTGPVEQORCP[QHITQWRQHEQORCPKGUQHHGTKPIÌPCPEKCNUGTXKEGUÂ Æ 6JG&GEGODGTEQPUQNKFCVGFÌPCPEKCNRQUKVKQPUVCVGOGPVKPENWFGFCNNKVGOUQHCUUGVUCPFNKCDKNKVKGUQH/6)*)TQWR6JGEQPUQNKFCVGFUVCVGOGPVQHEQORTGJGPUKXGKPEQOG KPENWFGFOQPVJQRGTCVKPITGUWNVQH/6)*)TQWRHQTVJGRGTKQFGPFGF&GEGODGT JCUDGGPTGRQTVGFKPCEEQTFCPEGYKVJ$CUGN++ .QCPUWUGFKPECNEWNCVKQPCTGNQCPUVQIGPGTCNEWUVQOGTUCPFNQCPUVQÌPCPEKCNKPUVKVWVKQPU JCUDGGPTGRQTVGFKPCEEQTFCPEGYKVJ$CUGN+++%CRKVCN4GSWKTGOGPV 2TQXKUKQPGZRGPUG+ORCKTOGPVNQUUQPNQCPUCPFFGDVUGEWTKVKGU HTQO,CPWCT[QPYCTFU .QCPUWUGFKPECNEWNCVKQPCTGNQCPUVQIGPGTCNEWUVQOGTUCPFNQCPUVQÌPCPEKCNKPUVKVWVKQPU #NNQYCPEG#NNQYCPEGHQTFQWDVHWNCEEQWPVUCPFTGXCNWCVKQPCNNQYCPEGHQTFGDVTGUVTWEVWTKPI CHVGTCNNQYCPEGHQTFQWDVHWNCEEQWPVQHPQPRGTHQTOKPINQCP 004 #007#.4'2146 Contents 005 BOARD OF DIRECTORS’ REPORT SUSTAINBLE DEVELOPMENT 243 Business MANAGEMENT REPORT 243 Employees 007 Management Report 244 Environment 009 Management Discussion and Analysis 244 Society 1XGTXKGY 1RGTCVKPI2GTHQTOCPEGCPF(KPCPEKCN STRUCTURE 2QUKVKQP#PCN[UKU 248 Organization Chart 1RGTCVKQPUQH%QTG$WUKPGUUGU 252 Board of Directors 1RGTCVKQPUQH5WRRQTV)TQWRU 254 Board of Directors and Executives -#5+-140$#0-¿U+PXGUVOGPVUKP 274 Directorship of Directors and Executives in 5WDUKFKCT[CPF#UUQEKCVGF%QORCPKGU Subsidiaries, Associated and Related Companies 061 Risk Management and Risk Factors 276 Changes in KASIKORNBANK Shares Held by 1XGTCNN4KUM/CPCIGOGPV Directors and Executives in 2013 4KUM/CPCIGOGPV 278 Management Team %CRKVCN/CPCIGOGPV 282 Investments of KASIKORNBANK in Other Companies FINANCIAL REPORTS OTHER INFORMATION 075 Report of the Board of Directors’ Responsibilities 285 Reference Information for Financial Reports 286 Major Shareholders 076 Report of the Audit Committee 287 Awards and Commendation 078 Independent Audit’s Report KASIKORNBANK 080 Financial Statements 291 KASIKORNBANK PUBLIC COMPANY LIMITED 088 Notes to the Financial Statements &QOGUVKE$TCPEJGUCPF5WDQHHKEGU CORPORATE GOVERNANCE (QTGKIP'ZEJCPIG$QQVJ 199 Report of the Corporate Governance Committee 6*'9+5&1/%GPVGTCPF%QTPGT 200 Report of the Human Resources %QTRQTCVG$WUKPGUU%GPVGT and Remuneration Committee %QTRQTCVG5/'5GTXKEG%GPVGT 201 Corporate Governance 5/'$WUKPGUU%GPVGT 4KIJVUQH5JCTGJQNFGTU 1XGTUGCUCPF4GRTGUGPVCVKXG1HHKEG 'SWKVCDNG6TGCVOGPVQH5JCTGJQNFGTU 317 K Companies 4QNGUQH5VCMGJQNFGTU 320 SUMMARY OF SPECIFIED ITEMS PER FORM 56-2 &KUENQUWTGCPF6TCPURCTGPE[ 4GURQPUKDKNKVKGUQHVJG$QCTFQH&KTGEVQTU 240 Dividend Policy 241 Factors Affecting Investment Decisions 00505 Board of Directors’ Report $QCTFQH&KTGEVQTU¿4GRQTV/CPCIGOGPV4GRQTV -#5+-140$#0- GZRGTKGPEGF CPQVJGT [GCT QH KPVGTPCVKQPCNPGVYQTMEQPUKUVUQHDTCPEJGUCPFTGRTGUGPVCVKXG UWEEGUUHWNRGTHQTOCPEGKP#UYGCTGEQOOKVVGFVQ QHÌEGUKPEQWPVTKGUVJG75#%JKPC,CRCP*QPI-QPI UGTXKEGGZEGNNGPEGKPQWTDWUKPGUUQRGTCVKQPYGCKOVQOCKPVCKP %C[OCP+UNCPFUCPF/[CPOCT1WTNCVGUVQRGPKPIKP%JGPIFW QWTRQUKVKQPCUVJGÁ%WUVQOGT¿U/CKP$CPMÂ1WTÁ%WUVQOGT 5KEJWCPRTQXKPEGKUQWTUGEQPFHWNNDTCPEJKP%JKPC %GPVTKEKV[ÂUVTCVGI[EQPUKUVUQHVJTGGOCKPGNGOGPVU2TQFWEV HCEKNKVCVKPIVJGUVGCFKN[KPETGCUKPI%JKPGUG6JCKDWUKPGUU 5QNWVKQP$TCPFKPI/CTMGVKPICPF5GTXKEG3WCNKV[VQFGNKXGT VTCPUCEVKQPU CPGZEGNNGPVUGTXKEGGZRGTKGPEGHQTEWUVQOGTUKPCNNCEEGUUKDNG $G[QPFÌPCPEKCNDWUKPGUUYGJCXGCFJGTGFVQQWT5VCVGOGPVU EJCPPGNUWPFGTUQWPFCPFVKOGN[TKUMOCPCIGOGPV#RTKOCT[ QH%QTRQTCVG)QXGTPCPEGCPF5WUVCKPCDNG&GXGNQROGPV VCTIGVKUVQCEJKGXGNQPIVGTOCPFUWUVCKPCDNGTKUMCFLWUVGF 2TKPEKRNGUMPQYKPIVJCVUWUVCKPCDNGITQYVJECPQPN[DG TGVWTPU6JG$CPMEQPVKPWGUVQFGXGNQRUWRRQTVQRGTCVKQPUOCKPN[ TGCNK\GFD[QWTRCTVKEKRCVKQPKPVJGFGXGNQROGPVQHVJG JWOCPTGUQWTEGUCPFKPHQTOCVKQPVGEJPQNQI[KPJCTOQP[YKVJ GEQPQO[GPXKTQPOGPVCPFUQEKGV[1WTÁ)TGGPCV*GCTVÂ QWT5VTCVGIKE&KTGEVKQPUVQCUUWTGVJCVDWUKPGUUVCTIGVUCUYGNN EQOOKVOGPVJCUDGGPEWNVKXCVGFCOQPIQWTUVCHHCURCTVQH CUNQPIVGTOCPFUWUVCKPCDNGEQORGVKVKXGPGUUECPDGCVVCKPGF VJGKTYQTMKODWGFKPQWTEQTRQTCVGEWNVWTGCPFJCUGZRCPFGF 5VTKXKPIVQUGTXGCNNEWUVQOGTUVJG$CPMCEJKGXGF TGCEJKPIEWUVQOGTUUWTTQWPFKPIEQOOWPKVKGUCPFQVJGT EQPUKUVGPVITQYVJKPQWTGCTPKPIUDGHQTGVCZD[RGTEGPV UVCMGJQNFGTUGPIGPFGTKPIEQPETGVGCEVKQPUVQYCTFUUWUVCKPCDNG QXGT[GCTVQ$CJVOKNNKQPCNQPIYKVJPGVRTQÌVQH$CJV PCVKQPCNFGXGNQROGPV OKNNKQP1WTUGTXKEGEQXGTCIGYCUDTQCFGPGFPCVKQPYKFG 1WTGCTPGUVGHHQTVUJCXGIKXGPWUVJGEQPHKFGPEGCPF VQCEWTTGPVVQVCNQHDTCPEJGUCPFUWDQHÌEGURNWU VTWUVQHUJCTGJQNFGTUEWUVQOGTUVJGIGPGTCNRWDNKECPF #6/U9GTGVCKPGFFQOKPCPEGKPVJG5/'DWUKPGUUUGIOGPV OCP[QTICPK\CVKQPUCVJQOGCPFCDTQCFCUGXKFGPEGFD[VJG RTQXGPD[QWTEQPVKPWGFVQROCTMGVUJCTGCNQPIYKVJDGKPI CEEQNCFGUDGUVQYGFWRQPWUKP VJGNGCFKPIFKIKVCNDCPMKPIUGTXKEGRTQXKFGTUGTXKPIOKNNKQP 1PDGJCNHQHVJG$QCTFQH&KTGEVQTUCPF-#5+-140$#0- WUGTU¼VJGJKIJGUVKPVJGOCTMGV1WTPQPKPVGTGUVKPEQOG GORNQ[GGU+VCMGVJKUQRRQTVWPKV[VQGZRTGUUQWTUKPEGTG ÍQWTKUJGFD[RGTEGPVCPFQWTPGVHGGUCPFUGTXKEGKPEQOG