Thaifa 30092019 Original The

KASIKORNBANK PUBLIC COMPANY LIMITED
and Its Subsidiaries

Interim financial statements
For the three-month and nine-month periods ended
30 September 2019
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 30 September 2019; the consolidated and the Bank-only statements of profit or loss and
other comprehensive income for the three-month and nine-month periods ended 30 September 2019, changes in
equity and cash flows for the nine-month period ended 30 September 2019; 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.
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
12 November 2019
2
KASIKORNBANK PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES
STATEMENTS OF FINANCIAL POSITION
Thousand Baht
Consolidated The Bank
Note 30 September 2019 31 December 2018 30 September 2019 31 December 2018
ASSETS
Cash 49,627,224 66,739,598 49,591,046 66,702,497
Interbank and money market items - net 398,969,215 461,987,288 377,615,880 433,637,801
Derivative assets 43,321,511 26,195,493 40,071,815 25,253,216
Investments - net 6 768,550,930 661,655,219 287,704,893 224,815,062
Investments in subsidiaries, associates and joint venture - net 7 2,065,702 916,679 30,313,042 30,575,493
Loans to customers and accrued interest receivables - net 8,9
Loans to customers 1,960,381,713 1,924,748,421 1,898,353,457 1,868,154,453
Accrued interest receivables 3,724,041 3,386,966 3,014,882 2,733,672
Total Loans to customers and accrued interest receivables 1,964,105,754 1,928,135,387 1,901,368,339 1,870,888,125
Less Deferred revenue (11,889,860) (10,675,722) (258,282) (190,963)
Less Allowance for doubtful accounts 10 (119,915,381) (117,689,558) (115,809,858) (113,848,883)
Less Revaluation allowance for debt restructuring 11 (1,979,672) (1,796,362) (1,971,760) (1,789,986)
Total Loans to customers and accrued interest receivables - net 1,830,320,841 1,797,973,745 1,783,328,439 1,755,058,293
Properties foreclosed - net 24,445,878 22,213,586 24,354,089 22,095,753
Premises and equipment - net 13 52,742,172 48,525,133 42,653,555 38,463,014
Goodwill and other intangible assets - net 23,779,811 24,089,024 17,783,346 18,208,983
Deferred tax assets 6,952,729 6,694,782 5,478,917 4,431,038
Other assets - net 39,358,157 38,100,262 22,212,232 21,908,381
Total Assets 3,240,134,170 3,155,090,809 2,681,107,254 2,641,149,531
The accompanying notes are an integral part of these interim financial statements. 3
STATEMENTS OF FINANCIAL POSITION
Thousand Baht
Note 30 September 2019 31 December 2018 30 September 2019 31 December 2018
LIABILITIES AND EQUITY
Deposits 1,998,886,468 1,995,000,637 1,994,781,008 1,991,422,958
Interbank and money market items 133,472,788 128,003,006 139,070,660 136,452,344
Liabilities payable on demand 24,116,409 25,488,433 24,116,409 25,488,433
Derivative liabilities 33,055,154 21,739,574 34,219,262 22,010,827
Debts issued and borrowings 68,449,146 70,566,887 68,303,287 70,446,196
Provisions 14 29,121,978 24,489,636 27,273,922 22,834,534
Deferred tax liabilities 1,558,342 1,615,016 - -
Insurance contract liabilities 15 436,521,295 410,747,873 - -
Other liabilities 66,369,374 59,617,825 35,085,690 34,366,203
Total Liabilities 2,791,550,954 2,737,268,887 2,322,850,238 2,303,021,495
Equity
Share capital
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 25,755,235 19,121,516 21,658,368 16,645,491
Retained earnings
Appropriated
Legal reserve 3,050,000 3,050,000 3,050,000 3,050,000
Unappropriated 330,203,787 312,090,325 291,512,936 276,396,833
Total Equity attributable to equity holders of the Bank 401,044,734 376,297,553 358,257,016 338,128,036
Non-controlling interests 47,538,482 41,524,369 - -
Total Equity 448,583,216 417,821,922 358,257,016 338,128,036
Total Liabilities and Equity 3,240,134,170 3,155,090,809 2,681,107,254 2,641,149,531
(Mr. Banthoon Lamsam) (Ms. Kattiya Indaravijaya)

Chairman of the Board and Chief Executive Officer President
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(UNAUDITED)
Thousand Baht
For the three-month period ended 30 September For the three-month period ended 30 September
Note 2019 2018 2019 2018
Interest income 21 33,023,889 31,290,576 27,309,475 25,946,557
Interest expenses 22 6,927,713 6,286,153 6,853,001 6,243,850
Interest income - net 26,096,176 25,004,423 20,456,474 19,702,707
Fees and service income 12,973,221 12,716,322 12,034,328 11,927,073
Fees and service expenses 3,516,256 3,364,075 3,454,406 3,276,281
Fees and service income - net 9,456,965 9,352,247 8,579,922 8,650,792
Gain on trading and foreign exchange transactions 1,978,436 2,241,689 1,915,622 2,210,267
Gain on investments 23 2,934,053 723,756 2,720,957 30,041
Share of (loss) profit from investments using equity method (672) 14,920 - -
Dividend income 716,170 500,686 1,013,584 770,988
Net premiums earned 19,532,544 18,613,068 - -
Other operating income 284,948 296,832 680,661 666,085
Total operating income 60,998,620 56,747,621 35,367,220 32,030,880
Underwriting expenses 19,130,798 18,693,121 - -
Total operating income - net 41,867,822 38,054,500 35,367,220 32,030,880
Other operating expenses
Employee expenses 8,300,541 7,720,927 6,081,020 5,614,548
Directors' remuneration 27,739 23,584 20,539 16,144
Premises and equipment expenses 3,240,220 3,117,176 3,268,321 3,082,824
Taxes and duties 1,280,430 1,209,870 1,121,353 1,052,625
Others 4,952,926 4,132,266 4,950,886 4,242,969
Total other operating expenses 17,801,856 16,203,823 15,442,119 14,009,110
Impairment loss on loans and debt securities 10,060,179 8,211,151 9,912,290 8,103,781
Operating profit before income tax expense 14,005,787 13,639,526 10,012,811 9,917,989
Income tax expense 2,674,432 2,660,129 1,788,374 1,792,632
Net profit 11,331,355 10,979,397 8,224,437 8,125,357
Other comprehensive income
Items that will be reclassified subsequently to profit or loss
(Loss) gain on remeasurement of available-for-sale investments (2,315,835) 3,132,498 (1,290,503) (131,405)
(Loss) gain arising from translating the financial statements of a foreign operation 24 (141,384) (170,823) (5,955) 5,788
Income taxes relating to components of other comprehensive income 460,881 (619,617) 258,108 26,512
Items that will not be reclassified subsequently to profit or loss
Actuarial (loss) gain on defined benefit plans 14 (2,601,299) 15,551 (2,598,487) 15,551
Income taxes relating to components of other comprehensive income 520,260 (3,110) 519,697 (3,110)
Total other comprehensive income (4,077,377) 2,354,499 (3,117,140) (86,664)
Total comprehensive income 7,253,978 13,333,896 5,107,297 8,038,693
Net profit attributable to :
Equity holders of the Bank 9,951,374 9,743,688 8,224,437 8,125,357
Total comprehensive income attributable to :
Non-controlling interests 854,597 2,852,360 - -
Earnings per share of equity holders of the Bank
Basic earnings per share (Baht) 4.16 4.07 3.44 3.40
Weighted average number of common shares (Thousand shares) 2,393,260 2,393,260 2,393,260 2,393,260

STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Thousand Baht
For the nine-month period ended 30 September For the nine-month period ended 30 September
Note 2019 2018 2019 2018
Interest income 21 97,611,988 91,941,847 80,940,338 76,598,419
Interest expenses 22 20,494,284 18,875,002 20,292,683 18,751,815
Interest income - net 77,117,704 73,066,845 60,647,655 57,846,604
Fees and service income 37,554,253 38,676,612 35,057,277 36,439,017
Fees and service expenses 10,221,131 9,545,080 10,040,556 9,289,402
Fees and service income - net 27,333,122 29,131,532 25,016,721 27,149,615
Gain on trading and foreign exchange transactions 6,382,637 7,071,542 6,385,395 6,836,324
Gain on investments 23 3,659,729 2,473,002 2,817,560 1,220,125
Share of profit from investments using equity method 61,580 38,174 - -
Dividend income 2,239,703 1,831,270 4,766,063 3,184,456
Net premiums earned 59,978,416 67,787,633 - -
Other operating income 970,237 1,076,258 2,078,303 1,921,336
Total operating income 177,743,128 182,476,256 101,711,697 98,158,460
Underwriting expenses 58,978,992 65,009,806 - -
Total operating income - net 118,764,136 117,466,450 101,711,697 98,158,460
Other operating expenses
Employee expenses 24,890,966 23,166,077 18,267,785 16,738,123
Directors' remuneration 137,023 125,626 87,408 77,976
Premises and equipment expenses 9,335,407 9,122,199 9,417,103 9,101,525
Taxes and duties 3,796,058 3,648,735 3,330,457 3,204,580
Others 13,393,992 12,805,909 13,397,871 12,845,536
Total other operating expenses 51,553,446 48,868,546 44,500,624 41,967,740
Impairment loss on loans and debt securities 25,186,748 24,024,429 24,831,693 23,574,866
Income tax expense 8,005,470 8,585,757 5,465,750 5,799,407
Net profit 34,018,472 35,987,718 26,913,630 26,816,447
Other comprehensive income
Items that will be reclassified subsequently to profit or loss
Gain (loss) on remeasurement of available-for-sale investments 7,920,597 (1,237,495) 1,930,047 (1,119,974)
Loss arising from translating the financial statements of a foreign operation 24 (186,819) (369,705) (9,569) (182)
Income taxes relating to components of other comprehensive income (1,591,157) 247,049 (385,105) 224,095
Items that will not be reclassified subsequently to profit or loss
Changes in revaluation surplus 13 4,503,461 - 4,503,461 -
Actuarial (loss) gain on defined benefit plans 14 (2,944,575) 1,763,491 (2,937,860) 1,763,491
Income taxes relating to components of other comprehensive income (311,898) (352,698) (313,120) (352,698)
Total other comprehensive income 7,389,609 50,642 2,787,854 514,732
Total comprehensive income 41,408,081 36,038,360 29,701,484 27,331,179
Net profit attributable to :
Total comprehensive income attributable to :
Earnings per share of equity holders of the Bank
Basic earnings per share (Baht) 12.50 13.13 11.25 11.20
Weighted average number of common shares (Thousand shares) 2,393,260 2,393,260 2,393,260 2,393,260

STATEMENTS OF CHANGES IN EQUITY
Thousand Baht
Consolidated
Note Equity Holders of the Bank Non-controlling Total
Issued and Premium on Other Reserves Retained Earnings Total Equity Interests
Paid-up Share Share Capital Appraisal Revaluation Foreign Total Appropriated Unappropriated Attributable to Equity
Capital Surplus on Surplus on Currency Other Legal Reserve Holders of the Bank
Asset Revaluation Available-for-sale Translation Reserves
Investments (Note 24)
Nine-month period ended 30 September 2018
Balance at 1 January 2018 23,932,602 18,103,110 13,461,036 8,652,590 159,260 22,272,886 3,050,000 281,266,529 348,625,127 39,197,168 387,822,295
Dividend paid 16 - - - - - - - (9,573,041) (9,573,041) (944,710) (10,517,751)
Net profit - - - - - - - 31,426,152 31,426,152 4,561,566 35,987,718

Other comprehensive income - - - (975,377) (370,589) (1,345,966) - 1,410,793 64,827 (14,185) 50,642
Total comprehensive income - - - (975,377) (370,589) (1,345,966) - 32,836,945 31,490,979 4,547,381 36,038,360
Transferred to retained earnings - - (118,612) - - (118,612) - 118,612 - - -

Others - - - - - - - (7,293) (7,293) (11,679) (18,972)
Balance at 30 September 2018 23,932,602 18,103,110 13,342,424 7,677,213 (211,329) 20,808,308 3,050,000 304,641,752 370,535,772 42,788,160 413,323,932

Balance at 1 January 2019 23,932,602 18,103,110 13,302,481 6,013,108 (194,073) 19,121,516 3,050,000 312,090,325 376,297,553 41,524,369 417,821,922
Dividend paid 16 - - - - - - - (9,573,041) (9,573,041) (1,221,466) (10,794,507)
Acquisition of non-controlling interests - - - - - - - - - 175,000 175,000
Net profit - - - - - - - 29,924,602 29,924,602 4,093,870 34,018,472

Other comprehensive income - - 3,602,769 3,339,655 (173,046) 6,769,378 - (2,355,782) 4,413,596 2,976,013 7,389,609
Total comprehensive income - - 3,602,769 3,339,655 (173,046) 6,769,378 - 27,568,820 34,338,198 7,069,883 41,408,081
Transferred to retained earnings - - (136,196) - - (136,196) - 136,196 - - -

Others - - 537 - - 537 - (18,513) (17,976) (9,304) (27,280)
Balance at 30 September 2019 23,932,602 18,103,110 16,769,591 9,352,763 (367,119) 25,755,235 3,050,000 330,203,787 401,044,734 47,538,482 448,583,216
STATEMENTS OF CHANGES IN EQUITY
Thousand Baht
The Bank
Note Equity Holders of the Bank
Issued and Premium on Other Reserves Retained Earnings Total
Paid-up Share Share Capital Appraisal Revaluation Foreign Total Appropriated Unappropriated
Capital Surplus on Surplus on Currency Other Legal Reserve
Asset Revaluation Available-for-sale Translation Reserves
Investments (Note 24)
Balance at 1 January 2018 23,932,602 18,103,110 12,505,313 5,170,677 25,841 17,701,831 3,050,000 251,530,477 314,318,020
Dividend paid 16 - - - - - - - (9,573,041) (9,573,041)
Net profit - - - - - - - 26,816,447 26,816,447

Other comprehensive income - - - (895,979) (82) (896,061) - 1,410,793 514,732
Total comprehensive income - - - (895,979) (82) (896,061) - 28,227,240 27,331,179
Transferred to retained earnings - - (108,219) - - (108,219) - 108,219 -

Balance at 30 September 2018 23,932,602 18,103,110 12,397,094 4,274,698 25,759 16,697,551 3,050,000 270,292,895 332,076,158

Balance at 1 January 2019 23,932,602 18,103,110 12,360,653 4,263,985 20,853 16,645,491 3,050,000 276,396,833 338,128,036
Dividend paid 16 - - - - - - - (9,573,041) (9,573,041)
Net profit - - - - - - - 26,913,630 26,913,630

Other comprehensive income - - 3,602,769 1,544,037 (8,664) 5,138,142 - (2,350,288) 2,787,854
Total comprehensive income - - 3,602,769 1,544,037 (8,664) 5,138,142 - 24,563,342 29,701,484
Transferred to retained earnings - - (125,802) - - (125,802) - 125,802 -

Others - - 537 - - 537 - - 537
Balance at 30 September 2019 23,932,602 18,103,110 15,838,157 5,808,022 12,189 21,658,368 3,050,000 291,512,936 358,257,016

STATEMENTS OF CASH FLOWS
Thousand Baht
Note 2019 2018 2019 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Adjustments for
Depreciation and amortisation 5,572,254 5,480,571 4,952,836 4,866,548
Bad debt and doubtful accounts 24,481,593 23,470,321 24,041,182 22,928,008
Loss on debt restructuring 2,621,951 2,309,109 2,617,096 2,305,073
Interest income from amortisation of revaluation allowance for debt restructuring (1,029,698) (580,919) (1,026,379) (576,691)
(Gain) Loss on foreign exchange translation of long-term borrowings (29,174) 662,105 (29,174) 662,105
(Gain) Loss on revaluation of trading investments (87,197) (103,061) (42,309) 10,625
Reversal of loss on impairment of investments - - (60,000) (110,000)
Gain on disposal of investments in securities (3,659,729) (2,472,354) (2,757,560) (1,110,125)
Gain on disposal of investments in associated company - (648) - -
Loss on impairment of properties foreclosed 662,226 398,621 645,770 393,496
(Reversal of loss) Loss on impairment of premises and equipment (8,522) 2,687 (8,522) 2,687
Reversal of loss on impairment of other assets (3,720) - (3,720) -
Provision for other assets 229,633 272,912 229,633 272,912
(Gain) Loss on disposal of premises and equipment (7,066) 3,424 3,531 10,957
Loss on write off of premises and equipment 6,076 4,507 5,576 4,507
Loss on write off of other assets 34,926 74,227 31,694 76,220
Reversal of loss on revaluation of premises 13 (39,748) - (39,748) -
Share of profit from investments using equity method (61,580) (38,174) - -
70,706,167 74,056,803 60,939,286 62,352,176
Interest income - net (77,117,704) (73,066,845) (60,647,655) (57,846,604)
Dividend income (2,239,703) (1,831,270) (4,766,063) (3,184,456)
Proceeds from interest 93,054,522 94,270,513 79,052,319 81,457,395
Interest paid (20,433,927) (18,385,405) (20,311,862) (18,293,263)
Proceeds from dividends 2,331,088 1,980,842 4,762,161 3,184,550
Income tax paid (11,100,770) (10,787,245) (7,369,062) (6,729,147)
Operating profit before changes in operating assets and liabilities 55,199,673 66,237,393 51,659,124 60,940,651
(Increase) Decrease in operating assets

Interbank and money market items (assets) 58,260,593 (3,197,819) 52,814,907 (444,424)
Investments held for trading (2,335,013) 2,969,527 (1,325,094) 2,953,241
Loans to customers (61,908,750) (66,427,685) (57,089,642) (62,110,555)
Properties foreclosed 2,687,869 2,513,019 2,316,313 2,133,282
Other assets (19,446,115) 1,334,026 (16,442,653) 402,385
STATEMENTS OF CASH FLOWS
Thousand Baht
Note 2019 2018 2019 2018
Increase (Decrease) in operating liabilities
Deposits 4,842,670 43,251,407 3,451,716 43,249,490
Interbank and money market items (liabilities) 6,951,993 53,628,694 3,505,601 50,167,999
Liabilities payable on demand (1,371,966) 4,845,440 (1,371,966) 4,845,440
Short-term debts issued and borrowings 25,168 (53,953) - -
Other accrued expenses (2,282,646) (3,252,438) (1,626,973) (2,306,033)
Provisions 1,687,767 773,175 1,501,528 628,874
Other liabilities 48,817,558 35,483,087 15,421,178 (931,277)
Net cash provided by operating activities 91,128,801 138,103,873 52,814,039 99,529,073
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from disposal of available-for-sale investments 268,389,513 183,357,848 180,243,029 169,486,950
Proceeds from redemption of held-to-maturity debt instruments 55,509,631 37,688,770 45,436,430 30,521,743
Proceeds from disposal of general investments 21,524 28,634 24,000 16,000
Proceeds from capital decrease in subsidiary - - 60,000 110,000
Proceeds from disposal of investments in associated companies 130 863 - -
Purchase of available-for-sale investments (325,762,336) (289,988,033) (226,101,375) (270,285,514)
Purchase of held-to-maturity debt instruments (89,541,084) (58,894,987) (54,963,167) (20,743,556)
Purchase of general investments (291,162) (2,052,612) (92,455) (370,382)
Purchase of investments in subsidiaries - - (822,500) (1,905,000)
Purchase of investments in associated companies and joint venture (1,186,957) (47,040) (160,962) -
Proceeds from disposal of premises and equipment 18,715 23,808 6,189 9,219
Proceeds from disposal of intangible assets 61,239 - 61,239 -
Purchase of premises and equipment (2,961,116) (1,719,700) (2,461,017) (1,116,183)
Purchase of leasehold (37,830) (5,469) (37,830) (5,469)
Purchase of intangible assets (2,052,204) (1,578,496) (1,757,287) (1,287,950)
Net cash used in investing activities (97,831,937) (133,186,414) (60,565,706) (95,570,142)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debts issued and borrowings 5 453,907 13,077,321 453,907 13,077,321
Repayment of long-term debts issued and borrowings 5 (238,423) (15,878,325) (238,423) (15,878,325)
Proceeds from acquisition of non-controlling interests 175,000 - - -
Dividend paid to shareholders 16 (9,573,041) (9,573,041) (9,573,041) (9,573,041)
Dividend paid to non-controlling interests (1,221,466) (944,710) - -
Net cash used in financing activities (10,404,023) (13,318,755) (9,357,557) (12,374,045)
Effect of exchange rate changes on balances held in foreign currencies
at the end of the period (5,215) (2,434) (2,227) (551)
Net decrease in cash (17,112,374) (8,403,730) (17,111,451) (8,415,665)
Cash at the beginning of the period 5 66,739,598 67,824,628 66,702,497 67,787,380
Cash at the end of the period 5 49,627,224 59,420,898 49,591,046 59,371,715

NOTES TO THE INTERIM FINANCIAL STATEMENTS
FOR THE THREE-MONTH AND NINE-MONTH PERIODS ENDED 30 SEPTEMBER 2019 (UNAUDITED)
Note Contents Page

1 General information 12
2 Basis of preparation of the financial statements 12
3 Significant accounting policies 14
4 Capital requirements 15
5 Supplementary information of cash flows 17
6 Investments - net 18
7 Investments in subsidiaries, associates and joint ventures - net 21
8 Loans to customers and accrued interest receivables - net 24
9 Troubled debt restructuring 29
10 Allowance for doubtful accounts 32
11 Revaluation allowance for debt restructuring 33
12 Classified assets 34
13 Premises and equipment - net 35
14 Employee Retirement Benefits 35
15 Insurance contract liabilities 36
16 Dividend payments 36
17 Assets pledged as collateral and under restriction 37
18 Contingent liabilities and commitments 38
19 Related party transactions and balances 39
20 Segment information 43
21 Interest income 47
22 Interest expenses 48
23 Gain on investments 49
24 (Loss) gain arising from translating the financial statements of a foreign operation 50
25 Fair value of assets and liabilities 51
26 Events after the reporting period 53
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 financial statements have been prepared from the Thai language statutory financial statements, and
were approved and authorised for issue by the Audit Committee on 12 November 2019.
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, associated companies and joint venture as at 30 September 2019 and
31 December 2018 are given in note 7.
2 BASIS OF PREPARATION OF THE INTERIM FINANCIAL STATEMENTS

a) Statement of compliance
The interim financial statements are prepared in accordance with Thai Accounting Standards (“TAS”) No.34 (revised
2018) Interim Financial Reporting, guidelines promulgated by the Federation of Accounting Professions, applicable
rules and regulations of the Thai Securities and Exchange Commission (“SEC”) and 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”, any other supplementary BOT
notifications.
The new and revised TFRS are effective for annual accounting periods beginning on or after 1 January 2019. The initial
application of the new and revised TFRS has resulted in changes in certain of accounting policies of the Bank and its
subsidiaries. The primary change is that the Bank and its subsidiaries has initially adopted TFRS 15 Revenue from Contracts
with Customers (“TFRS 15”), which replaced TAS 18 Revenue (“TAS 18”) and related interpretations.
Under TFRS 15, the Bank and its subsidiaries recognises services revenue in an amount that reflects the
consideration to which the Bank and its subsidiaries expects to be entitled to. In addition, judgement is required in
determining the timing of service for revenue recognition - at a point in time or over time. Such changes in
accounting policies have no material impacts on the financial statements.
12
In addition to the above new TFRS, The Bank and its subsidiaries have not adopted the following new TFRS that
have been issued as of the reporting date but are not yet effective. The new and revised TFRS that are applicable to
the Bank and its subsidiaries, which become effective for the financial periods beginning on or after 1 January 2020,
are as follows:
TFRS Topic
TAS 32 * Financial Instruments: Presentation
TFRS 7 * Financial Instruments: Disclosures
TFRS 9 * Financial Instruments
TFRS 16 Leases
TFRIC 16 * Hedges of a Net Investment in a Foreign Operation
TFRIC 19 * Extinguishing Financial Liabilities with Equity Instruments
* TFRS - Financial instruments standards
The TFRS – Financial instruments standards establish requirements related to definition, recognition, measurement,
impairment and derecognition of financial assets and financial liabilities, including accounting for derivatives and
hedge accounting.
TFRS 16 introduces a single lessee accounting model for lessees. A lessee recognizes a right-of-use asset representing
its right to use the underlying asset and a lease liability representing its obligation to make lease payments. However,
lessor accounting remains similar to the current standard.
Management is presently considering the potential impact of adopting and initially applying above TFRS on the
consolidated and the Bank’s financial statements.
13
b) Functional and presentation currencies

The 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 financial statements to the nearest
thousand and in the notes to the financial statements to the nearest million unless otherwise stated.
c) Use of estimates and judgements
The preparation of financial statements in conformity with TFRS requires management to make judgements,
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 prospectively.
In preparing these interim financial statements, the significant judgements made by management in applying the
Bank and its subsidiaries’ accounting policies and the key sources of estimation uncertainty were substantially the
same as those applied to the financial statements for the year ended 31 December 2018.
d) Basis of consolidation
The consolidated financial statements relate to the Bank and its subsidiaries and the Bank’s interests in associates
and joint venture.
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
and joint venture 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 and nine-month period ended 30 September 2019 are consistent with those applied in the
financial statements for the year ended 31 December 2018, except that the Bank and its subsidiaries has adopted the new
and revised TFRS that are effective for annual periods beginning on or after 1 January 2019.
14
4 CAPITAL REQUIREMENTS
The ratios of capital to assets (Capital Adequacy Ratio) of KASIKORNBANK FINANCIAL CONGLOMERATE and the Bank
as at 30 September 2019 and 31 December 2018 are set out below. The Bank has chosen to adopt the Standardised
Approach in accordance with BOT requirements, which is in line with the requirements of Basel III.
(Million Baht)
KASIKORNBANK FINANCIAL
CONGLOMERATE
30 September 2019 31 December 2018
Tier 1 Capital
Common Equity Tier 1 (CET1)
Issued and paid-up share capital, premium on common shares 42,036 42,036
Legal reserve 3,050 3,050
Net profit after appropriation 322,283 294,841
Other comprehensive income 25,640 18,940
Less Capital deduction items on CET1 (28,624) (27,944)
Total Tier 1 Capital Base 364,385 330,923
Tier 2 Capital
Tier 2 Capital instruments 28,000 28,000
General Provision 24,318 23,186
Less Capital deduction items on Tier 2 (1,479) (770)
Total Capital Base 415,224 381,339
Total Risk-Weighted Assets 2,174,280 2,081,697
(Percentage)
KASIKORNBANK FINANCIAL CONGLOMERATE
Minimum capital ratios Minimum capital ratios
Capital Adequacy Ratio & Buffer requirements* 30 September 2019 & Buffer requirements* 31 December 2018
Tier 1 Capital ratio 9.00 16.76 7.875 15.90
Common Equity Tier 1 ratio 7.50 16.76 6.375 15.90
Tier 2 Capital ratio - 2.34 - 2.42
Capital adequacy ratio 11.50 19.10 10.375 18.32
* Bank of Thailand (BOT) required the Bank to maintain 2 capital buffer as follows:
- Conservation buffer: BOT required the bank to maintain an additional Common Equity Tier 1 on a phase-in basis of more than 0.625% per annum starting
from 1 January 2016 until more than 2.50% in 2019.
- Domestic Systematically Important Banks Buffer (D-SIBs Buffer): BOT required the D-SIBs to maintain an additional Common Equity Tier 1 at 1% per
annum on a phase-in basis at 0.50% from 1 January 2019 and increase to be 1% from 1 January 2020 onwards.
15
(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 285,322 262,119
Other comprehensive income 21,614 16,535
Less Capital deduction items on CET1 (27,086) (26,464)
Tier 2 Capital
Tier 2 Capital instruments 28,000 28,000
General Provision 23,554 22,486
Total Capital Base 376,490 347,762
Total Risk-Weighted Assets 2,102,180 2,014,943
(Percentage)
The Bank
Minimum capital ratios Minimum capital ratios
Capital Adequacy Ratio & Buffer requirements* 30 September 2019 & Buffer requirements* 31 December 2018
Tier 1 Capital ratio 9.00 15.46 7.875 14.75
Common Equity Tier 1 ratio 7.50 15.46 6.375 14.75
Tier 2 Capital ratio - 2.45 - 2.51
Capital adequacy ratio 11.50 17.91 10.375 17.26
* Bank of Thailand (BOT) required the Bank to maintain 2 capital buffer as follows:
- Conservation buffer: BOT required the bank to maintain an additional Common Equity Tier 1 on a phase-in basis of more than 0.625% per annum starting
from 1 January 2016 until more than 2.50% in 2019.
- Domestic Systematically Important Banks Buffer (D-SIBs Buffer): BOT required the D-SIBs to maintain an additional Common Equity Tier 1 at 1% per
annum on a phase-in basis at 0.50% from 1 January 2019 and increase to be 1% from 1 January 2020 onwards.
As at 30 September 2019 and 31 December 2018, the Bank and KASIKORNBANK FINANCIAL CONGLOMERATE have no
add-on arising from Single Lending Limit.
16
5 SUPPLEMENTARY INFORMATION OF CASH FLOWS

Significant non-cash items for the nine-month periods ended 30 September 2019 and 2018 are as follows:
(Million Baht)
2019 2018 2019 2018
Change in foreign exchange for long-term debts issued and
borrowings* (2,368) (785) (2,368) (785)
Amortisation cost for long-term debts issued and borrowings 9 10 9 10
* The Bank and its subsidiaries manage its banking exposures through the use of derivatives
17
6 INVESTMENTS - NET
6.1 Type of investments
Investments consisted of:
(Million Baht)
30 September 31 December 30 September 31 December
2019 2018 2019 2018
1. Trading investments - Fair Value
1.1 Government and state enterprise securities 14,552 14,757 14,552 14,757
1.2 Private enterprise debt instruments 2,513 830 2,513 830
1.3 Marketable equity securities - domestic 4,745 3,689 23 23
Total 21,810 19,276 17,088 15,610
2. Available-for-sale investments - Fair Value
2.2 Private enterprise debt instruments 9,049 8,195 6,884 6,100
2.3 Foreign debt instruments 68,825 14,881 59,367 5,224
2.4 Marketable equity securities - domestic 57,518 44,703 3,546 3,247
2.5 Marketable equity securities - overseas 38,039 15,869 20,083 2,969
Total 337,045 266,798 250,650 198,830
3. Held-to-maturity debt instruments - Cost Value /
Amortised Cost Value
3.2 Private enterprise debt instruments 119,634 99,175 11,791 2,626
3.3 Foreign debt instruments 34,778 33,284 - -
3.4 Investments in receivables 697 872 693 867
Total 404,894 371,498 17,505 8,431
Less Allowance for impairment (20) (473) - (453)
Total 404,874 371,025 17,505 7,978
4. General investments - Cost Value
4.1 Non-marketable equity securities - domestic 1,722 1,623 1,416 1,367
4.2 Non-marketable equity securities - overseas 3,395 3,224 1,213 1,193
Total 5,117 4,847 2,629 2,560
Less Allowance for impairment (221) (221) (93) (93)
Fair value hedge adjustments (74) (70) (74) (70)
Total 4,822 4,556 2,462 2,397
Total Investments - net 768,551 661,655 287,705 224,815
18
6.2 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)
Consolidated
Cost Value/ Allowance for Cost Value/ Allowance for
Book Value Fair Value Impairment Book Value Fair Value Impairment
1. Listed companies which meet SET’s
criteria for delisting, and are in
default on debt instruments
- Debt Instruments - - - 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 Securities 34 - (34) 34 - (34)
3. Investments in receivables with
uncertainty in settlement or in default 5 - (5) 5 - (5)
Total 39 - (39) 538 - (538)
19
(Million Baht)
The Bank
Cost Value/ Allowance for Cost Value/ Allowance for
Book Value Fair Value Impairment Book Value Fair Value Impairment
1. Listed companies which meet SET’s
criteria for delisting, and are in
default on debt instruments
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 Securities 22 - (22) 22 - (22)
Total 22 - (22) 521 - (521)
20
7 INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES – NET

Details of the Bank’s subsidiaries, associated companies and joint venture are as follows:
% Shareholding of the Bank
Direct and Indirect
Direct 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 CO., LTD. 1)
100.00 100.00
KASIKORN LABS CO., LTD. 1)
100.00 100.00
KASIKORN SOFT CO., LTD. 1)
100.00 100.00
KASIKORN PRO CO., LTD. 1)
100.00 100.00
KASIKORN SERVE CO., LTD. 1)
100.00 100.00
KASIKORN X CO., LTD. 1)
100.00 100.00
Muang Thai Group Holding Co., Ltd. (“MTGH”) 3)
51.00 51.00
KASIKORNTHAI BANK Limited 100.00 100.00
KASIKORNBANK (CHINA) COMPANY LIMITED 100.00 100.00
K-SME Venture Capital Co., Ltd. 100.00 100.00
BEACON VENTURE CAPITAL COMPANY LIMITED 100.00 100.00
KASIKORN VISION COMPANY LIMITED (“KVision”) 100.00 100.00
KASIKORN GLOBAL PAYMENT COMPANY LIMITED 100.00 -
Phethai Asset Management 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. 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. 100.00 100.00
PROGRESS STORAGE CO., LTD. 100.00 100.00
PROGRESS H R CO., LTD. 100.00 100.00
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
21
% Shareholding of the Bank

Direct and Indirect
Indirect subsidiaries
KHAO KLA Venture Capital Management Co., Ltd.2) 100.00 100.00
Muang Thai Life Assurance PCL (“MTL”)3) 38.25 38.25
Muang Thai Broker Co., Ltd.3) 50.98 50.98
MT Insure Broker Co., Ltd.4) 38.25 38.25
FUCHSIA VENTURE CAPITAL COMPANY LIMITED3) 38.25 38.25
AI GEN Company Limited3) 51.00 -
BEACON INTERFACE COMPANY LIMITED 100.00 100.00
PROGRESS MULTI INSURANCE BROKER CO., LTD. 100.00 100.00
Associated companies
Processing Center Co., Ltd. 30.00 30.00
National ITMX Co., Ltd. 25.43 22.76
BCI (THAILAND) CO., LTD. 22.17 -
Sovannaphum Life Assurance PLC4) 18.74 18.74
Goco Co., Ltd.5) 22.65 22.65
Lawson-Marsh Events Co., Ltd.5) 35.71 35.71
O&H Honeycomb Paper Co., Ltd.5) 40.99 40.99
LD Restaurant Co., Ltd.5) 35.30 35.30
Tee Entertainment Co., Ltd.5) 27.61 27.61
Joint venture
KASIKORN LINE CO., LTD. 6) 50.00 50.00
1)
Companies under Kasikorn Business-Technology Group.
2)
The Bank holds shares indirectly through KASIKORN ASSET MANAGEMENT CO., LTD.
3)
The Bank holds 51% of total issued shares of MTGH and MTGH holds 100% of total shares issued by AI GEN Company Limited and holds
99.97% of total shares issued by Muang Thai Broker Co., Ltd and holds 75% of total shares issued by MTL and FUCHSIA VENTURE CAPITAL
COMPANY LIMITED.
4)
The Bank holds shares indirectly through MTL.
5)
The Bank holds shares indirectly through K-SME Venture Capital Co., Ltd.
6)
The Bank holds shares indirectly through KVision.
The accounting for investments in associated companies and joint venture using the equity method in the consolidated
financial statements is based on financial information obtained from unaudited or unreviewed financial statements.
22
Subsidiaries, associated companies and joint venture were incorporated in Thailand except for KASIKORNTHAI BANK
Limited, KASIKORNBANK (CHINA) COMPANY LIMITED, and Sovannaphum Life Assurance PLC incorporated in Lao PDR,
People's Republic of China and Kingdom of Cambodia, respectively.
On 2 January 2019, the Bank established a new subsidiary company under the name KASIKORN GLOBAL PAYMENT
COMPANY LIMITED. The Company has Baht 200 million of authorised share capital of which Baht 120 million is paid-up, of
which 100% of shares are held by the Bank.
On 22 April 2019, Phethai Asset Management Co., Ltd., a subsidiary of the Bank reduced its authorised, issued and paid-
up share capital by Baht 60 million.
On 24 May 2019 and 21 June 2019, the Bank has invested in BCI (THAILAND) Company Limited in the amount of Baht 118
million, in which the Bank holds 28.48% of shares. In September 2019, BCI (THAILAND) Company Limited increased its
authorized share capital to other shareholders, as a result the Bank holds 22.17% of shares.
On 12 June 2019, FUCHSIA VENTURE CAPITAL COMPANY LIMITED, a subsidiary of the Bank increased its authorized
and fully paid up share capital by Baht 700 million.
On 23 July 2019, KASIKORN VISION COMPANY LIMITED, a subsidiary of the Bank, additionally partially paid up capital of
Baht 598 million, totaling paid up share capital by Baht 1,200 million.
On 26 July 2019, KASIKORN VISION COMPANY LIMITED, a subsidiary of the Bank, increased its investment in KASIKORN
LINE COMPANY LIMITED by Baht 1,011 million, remaining the same share holding.
On 20 September 2019, the Bank established a new subsidiary company under the name AI GEN COMPANY LIMITED, of
which 100% of shares are held by Muang Thai Group Holding Company Limited. The Company has Baht 5 million of
authorized share capital.
On 25 September 2019 and 30 September 2019, BEACON VENTURE CAPITAL COMPANY LIMITED, a subsidiary of the
Bank, additionally partially paid up capital of Baht 105 million to Baht 2,255 million of the Baht 2,650 million authorized
share capital.
23
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
30 September 2019
Loans and Net amount used for % Used for setting
Accrued Interest setting the Allowance the Allowance for Allowance for
Receivables for Doubtful Accounts Doubtful Accounts Doubtful Accounts
1. Minimum reserve under BOT’s Regulations
Pass 1,802,048 547,619 1 5,476
Special Mention 45,967 10,805 2 216
Sub-Standard 22,146 8,636 100 8,636
Doubtful 20,333 7,448 100 7,448
Doubtful of Loss 36,936 11,161 100 11,161
Total 1,927,430 585,669 32,937
2. Excess allowance 86,713
3. Credit balance transaction 1,728 -
4. Loans in life insurance business 23,058 265
Total 1,952,216 119,915
24
(Million Baht)
Consolidated
31 December 2018
Pass 1,783,072 574,273 1 5,743
Sub-Standard 18,614 8,093 100 8,093
Doubtful 23,740 10,418 100 10,418
Doubtful of Loss 32,075 14,067 100 14,067
Total 1,893,897 614,407 38,472
3. Credit balance transaction 2,104 -
4. Loans in life insurance business 21,458 265
Total 1,917,459 117,689
25
(Million Baht)
The Bank
30 September 2019
Pass 1,780,858 647,731 1 6,477
Sub-Standard 21,622 8,423 100 8,423
Doubtful 20,047 7,327 100 7,327
Doubtful of Loss 35,545 9,879 100 9,879
Total 1,901,110 684,026 32,319
Total 115,810
(Million Baht)
The Bank
31 December 2018
Pass 1,764,863 670,199 1 6,702
Sub-Standard 18,247 7,979 100 7,979
Doubtful 23,287 10,240 100 10,240
Doubtful of Loss 30,838 12,967 100 12,967
Total 1,870,697 708,827 38,037
Total 113,849
26
8.2 Non-performing loans (NPL)

Non-performing loans (NPL gross) are defined as sub-standard quality loans, being outstanding loans of sub-standard,
doubtful, doubtful of loss and loss loan accounts in accordance with the BOT’s directive number SOR NOR SOR 5/2559,
dated 10 June 2016, regarding the “Classification and provision criteria of financial institution”.
Non-performing loans, net (NPL net) refers to the non-performing loan value, net of total 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)
30 September 2019
Phethai Asset
KASIKORNBANK Management Others Consolidated
Non-performing loans, gross
Non-performing loans(1) 77,170 99 2,099 79,368
Total loans used for NPL gross ratio calculation(1) 2,212,752 99 158,204 2,248,081(2)
Ratio of total loans (%) 3.49 99.78 1.33 3.53
Non-performing loans, net
Non-performing loans(1) 51,301 76 505 51,882
Total loans used for NPL net ratio calculation(1) 2,186,883 76 156,610 2,220,595(2)
(Million Baht)
31 December 2018
Phethai Asset
KASIKORNBANK Management Others Consolidated
Non-performing loans, gross
Non-performing loans(1) 72,346 100 1,954 74,400
Total loans used for NPL gross ratio calculation(1) 2,188,430 100 153,145 2,224,329(2)
Non-performing loans, net
Non-performing loans(1) 40,769 77 585 41,431
Total loans used for NPL net ratio calculation(1) 2,156,853 77 151,776 2,191,360(2)
(1)
Excluding loans from KSecurities and MTL.
(2)
Excluding loans to and from subsidiaries.
27
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, summarised as follows:
(Million Baht)
30 September 2019 31 December 2018 30 September 2019 31 December 2018
Non-accrual loans(1) 178,966 176,293 176,660 174,133
Total loans used for ratio calculation(1) 2,248,081(2) 2,224,329(2) 2,212,752 2,188,430
Percentage of total loans (%) 7.96 7.93 7.98 7.96
(1)
Excluding loans from KSecurities and MTL.
(2)
Excluding loans to and from subsidiaries.
8.4 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 Loans and
Accrued Allowance for Accrued Allowance for
Interest Collateral Doubtful Interest Collateral Doubtful
Receivables Value Accounts Receivables Value Accounts
Listed companies which meet SET’s
criteria for delisting 368 368 - 566 478 1
28
9 TROUBLED DEBT RESTRUCTURING

The Bank and its subsidiaries engaged in debt restructuring contracts that incurred losses during the nine-month periods
ended 30 September 2019 and 2018 as follows:
(Million Baht)
Consolidated
Outstanding Debt Transferred Assets Losses on
Before After Debt
Types of Restructuring Cases Restructuring Restructuring Types Fair Value Restructuring
2019 2018 2019 2018 2019 2018 2019 2018 2019 2018
Transfers of assets 9,919 11,828 2,078 2,024 - - Cash, land, 1,353 1,209 725 815
and premises
Changes of repayment 5,963 5,800 47,930 50,092 47,877 49,982 - - - 1,835 1,429
conditions
Debt restructuring in 22 9 1,533 352 998 171 Cash, land, 516 126 62 65
various forms and premises
Total 15,904 17,637 51,541 52,468 48,875 50,153 1,869 1,335 2,622 2,309
(Million Baht)
The Bank
Outstanding Debt Transferred Assets Losses on
Before After Debt
Types of Restructuring Cases Restructuring Restructuring Types Fair Value Restructuring
2019 2018 2019 2018 2019 2018 2019 2018 2019 2018
Transfers of assets 9,919 11,828 2,078 2,024 - - Cash, land, 1,353 1,209 725 815
and premises
Changes of repayment 5,855 5,715 47,606 49,802 47,553 49,692 - - - 1,830 1,425
conditions
Debt restructuring in 22 9 1,533 352 998 171 Cash, land, 516 126 62 65
various forms and premises
Total 15,796 17,552 51,217 52,178 48,551 49,863 1,869 1,335 2,617 2,305
29
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 which were restructured by changing the repayment conditions and restructuring
in various other forms and which resulted in losses on debt restructuring during the nine-month periods ended 30 September
2019 and 2018 are as follows:
(Million Baht)
Consolidated
Outstanding Debt
Terms of debt restructuring
agreements Cases Before Restructuring After Restructuring End of Period
2019 2018 2019 2018 2019 2018 2019 2018
Less than 5 years 1,222 1,328 5,316 8,077 4,814 7,794 2,821 6,336
5 to 10 years 831 2,131 10,549 20,928 10,549 20,924 9,304 18,564
Over 10 years 3,932 2,350 33,598 21,439 33,512 21,435 32,144 20,569
Total 5,985 5,809 49,463 50,444 48,875 50,153 44,269 45,469
(Million Baht)
The Bank
Outstanding Debt
Terms of debt restructuring
agreements Cases Before Restructuring After Restructuring End of Period
2019 2018 2019 2018 2019 2018 2019 2018
Less than 5 years 1,114 1,245 4,992 7,792 4,490 7,509 2,498 6,060
5 to 10 years 831 2,129 10,549 20,923 10,549 20,919 9,304 18,560
Over 10 years 3,932 2,350 33,598 21,439 33,512 21,435 32,144 20,569
Total 5,877 5,724 49,139 50,154 48,551 49,863 43,946 45,189
30
The Bank and its subsidiaries recognised interest income from debt restructuring for the periods ended 30 September 2019
and 2018 as follows:
(Million Baht)
For the Three-month For the Nine-month For the Three-month For the Nine-month
Period Period Period Period
2019 2018 2019 2018 2019 2018 2019 2018
Debt restructuring contracts that
incurred losses 1,000 686 2,672 1,968 999 685 2,668 1,964
The Bank had commitments to extend additional loans to these borrowers as follows:
(Million Baht)
Consolidated and The Bank
Debt restructuring contracts that incurred losses 743 772
The Bank and its subsidiaries had outstanding balances on restructured loans that incurred losses during period/year as
follows:
(Million Baht)
2019 2018 2019 2018
Debt restructuring contracts which were not classified as NPL 41,190 52,668 40,876 52,366
Debt restructuring contracts which were classified as NPL 3,079 3,262 3,070 3,225
Total 44,269 55,930 43,946 55,591
The Bank and its subsidiaries had outstanding balances on restructured loans that incurred losses as follows:
(Million Baht)
2019 2018 2019 2018
Debt restructuring contracts which were not classified as NPL 64,538 66,585 64,107 66,190
Debt restructuring contracts which were classified as NPL 4,404 3,020 4,254 2,866
Total 68,942 69,605 68,361 69,056
31
10 ALLOWANCE FOR DOUBTFUL ACCOUNTS

The movements in the allowance for doubtful accounts during the period/year were as follows:
(Million Baht)
Consolidated
30 September 2019
Allowance Allowance
from from
Special Sub- Doubtful Excess Securities Insurance
Pass Mention Standard Doubtful of Loss Allowance Business Business Total
Balance at the beginning
of the period 5,743 151 8,093 10,418 14,067 78,952 - 265 117,689
Doubtful accounts (220) 65 543 (2,970) 19,428 7,761 - (3) 24,604
Bad debt written off - - - - (19,839) - - - (19,839)
Others (47) - - - (2,495) - - 3 (2,539)
Balance at the end
of the period 5,476 216 8,636 7,448 11,161 86,713 - 265 119,915
(Million Baht)
Consolidated
31 December 2018
Allowance Allowance
from from
Special Sub- Doubtful Excess Securities Insurance
Pass Mention Standard Doubtful of Loss Allowance Business Business Total
Balance at the beginning
of the year 5,481 250 10,779 8,385 11,560 65,214 46 269 101,984
Doubtful accounts 283 (99) (2,686) 2,033 18,174 13,738 (46) (4) 31,393
Bad debt written off - - - - (9,306) - - - (9,306)
Others (21) - - - (6,361) - - - (6,382)
Balance at the end
of the year 5,743 151 8,093 10,418 14,067 78,952 - 265 117,689
32
(Million Baht)
The Bank
30 September 2019
Special Sub- Doubtful Excess
Pass Mention Standard Doubtful of Loss Allowance Total
Balance at the beginning of the period 6,702 149 7,979 10,240 12,967 75,812 113,849
Doubtful accounts (225) 64 444 (2,913) 19,064 7,679 24,113
Bad debt written off - - - - (19,657) - (19,657)
Others - - - - (2,495) - (2,495)
Balance at the end of the period 6,477 213 8,423 7,327 9,879 83,491 115,810
(Million Baht)
The Bank
31 December 2018
Special Sub- Doubtful Excess
Pass Mention Standard Doubtful of Loss Allowance Total
Balance at the beginning of the year 6,364 248 10,687 8,284 10,438 62,626 98,647
Doubtful accounts 338 (99) (2,708) 1,956 17,937 13,186 30,610
Bad debt written off - - - - (9,045) - (9,045)
Others - - - - (6,363) - (6,363)
Balance at the end of the year 6,702 149 7,979 10,240 12,967 75,812 113,849
11 REVALUATION ALLOWANCE FOR DEBT RESTRUCTURING

The movements in the revaluation allowance for debt restructuring during the period/year were as follows:
(Million Baht)
Balance at the beginning of the period/year 1,796 1,451 1,790 1,438
Increase 1,825 1,974 1,820 1,971
Bad debt written off (798) (1,395) (798) (1,395)
Amortisation to interest income (1,029) (847) (1,026) (842)
Others 186 613 186 618
Balance at the end of the period/year 1,980 1,796 1,972 1,790
33
12 CLASSIFIED ASSETS
Classified assets of the Bank and its subsidiaries, consisted of 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
30 September 2019
Loans and Accrued Properties
Investments Interest Receivables Foreclosed Other Assets Total
Pass - 2,122,915 - - 2,122,915
Special Mention - 45,798 - - 45,798
Sub-Standard - 22,146 - - 22,146
Doubtful - 20,333 - - 20,333
Doubtful of Loss 165 36,936 1,588 4,516 43,205
Total 165 2,248,128 1,588 4,516 2,254,397
(Million Baht)
Consolidated
31 December 2018
Pass - 2,113,628 - - 2,113,628
Sub-Standard - 18,614 - - 18,614
Doubtful - 23,740 - - 23,740
Doubtful of Loss 708 32,075 1,530 4,471 38,784
Total 708 2,224,358 1,530 4,471 2,231,067
34
(Million Baht)
The Bank
30 September 2019
Pass - 2,092,714 - - 2,092,714
Sub-Standard - 21,622 - - 21,622
Doubtful - 20,047 - - 20,047
Doubtful of Loss 1,628 35,545 1,503 4,516 43,192
Total 1,628 2,212,796 1,503 4,516 2,220,443
(Million Baht)
The Bank
31 December 2018
Pass - 2,082,717 - - 2,082,717
Sub-Standard - 18,247 - - 18,247
Doubtful - 23,287 - - 23,287
Doubtful of Loss 2,229 30,838 1,460 4,471 38,998
Total 2,229 2,188,456 1,460 4,471 2,196,616
13 PREMISES AND EQUIPMENT – NET

During the period of 2019, the Bank completed the revaluation of its premises. The appraisal surplus on asset revaluation
increased by Baht 4,503 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 40 million. Such reversal was presented in
premises and equipment expenses in profit or loss.
14 EMPLOYEE RETIREMENT BENEFITS

The Bank recognised Baht 2,598 million and Baht 2,938 million of actuarial loss on defined benefit plans, which was
presented in other comprehensive income for the three-month and nine-month period ended 30 September 2019,
respectively, due to changes in the assumptions for discount rate.
35
15 INSURANCE CONTRACT LIABILITIES

Insurance contract liabilities consisted of:
(Million Baht)
Consolidated
Long-term technical reserves 431,162 405,978
Others 5,359 4,770
Total 436,521 410,748
Long-term technical reserves

(Million Baht)
Consolidated
Balance at the beginning of the period/year 405,978 359,349
Reserve increase from new and inforce policies in the period/year 52,409 80,165
Reserve released for benefits payment, lapse and cancellation in the period/year (27,225) (33,536)
Balance at the end of the period/year 431,162 405,978
16 DIVIDEND PAYMENTS
On 29 August 2019, the Board of Directors Meeting of the Bank approved to pay an interim dividend from the first six-
month operating results of 2019 at the rate of Baht 0.50 per share, totaling Baht 1,197 million, which was paid on
27 September 2019.
On 4 April 2019, the Annual General Meeting of Shareholders of the Bank approved to pay a dividend from the operating
results of 2018 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 27 September 2018 and the remaining dividend was paid at the rate of
Baht 3.50 per share, totaling Baht 8,376 million, on 30 April 2019.
On 30 August 2018, the Board of Directors Meeting of the Bank approved to pay an interim dividend from the first six-
month operating results of 2018 at the rate of Baht 0.50 per share, totaling Baht 1,197 million, which was paid on
27 September 2018.
On 4 April 2018, the Annual General Meeting of Shareholders of the Bank approved to pay a dividend from the operating
results of 2017 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 28 September 2017 and the remaining dividend was paid at the rate of
Baht 3.50 per share, totaling Baht 8,376 million, on 30 April 2018.
36
17 ASSETS PLEDGED AS COLLATERAL AND UNDER RESTRICTION

Assets pledged as collateral and under restriction consisted of:
(Million Baht)
Deposits 5,539 4,663 4,640 3,553
Government bonds 183,468 166,444 79,714 70,846
Total 189,007 171,107 84,354 74,399
The Bank and its subsidiaries has pledged these assets as collateral for derivatives, for electricity consumption, for court
collateral, for repurchase agreements, reserve in accordance with foreign government agencies and pledged with the
registrar as life assurance policy reserve in accordance with Section 24 of the Life Assurance Act B.E. 2535 and
amendment Act (No. 2) B.E. 2551
37
18 CONTINGENT LIABILITIES AND COMMITMENTS

Contingent liabilities and commitments consisted of:
(Million Baht)
2019 2018 2019 2018
Avals to bills 4,179 6,130 4,179 6,130
Guarantees of loans 8,970 8,157 8,970 8,157
Liability under unmatured import bills 34,710 33,729 34,710 33,729
Letters of credit 34,401 38,945 34,416 39,403
Other contingencies
- Obligation under firmed commitment underwriten 2,975 - 2,975 -
- Unused credit line of overdraft 252,171 231,874 252,479 232,182
- Other guarantees 361,171 362,340 359,216 359,902
- Others* 36,587 36,471 36,712 39,012
Total 735,164 717,646 733,657 718,515
*Including items contracted but not provided.
Under normal business operations, the Bank is a defendant in various litigations. These include cases of wrongful acts
brought against the Bank, with total claims amounting to Baht 1,551 million and Baht 1,267 million as of 30 September
2019 and 31 December 2018, respectively. The Management believes that any liability resulting from these litigations will
not be material to the Bank’s financial position or the results of its operations.
38
19 RELATED PARTY TRANSACTIONS AND BALANCES

Relationships between the Bank and related persons or entities consisted of subsidiaries, associated companies, joint venture,
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:
19.1 Assets, liabilities and contingencies between the Bank and related persons or entities as follows:
(Million Baht)
2019 2018 2019 2018
Interbank and Money Market Items (Assets)
Subsidiaries - - 3,991 3,916
Loans (Including financial institutions)
Subsidiaries
- KASIKORN LEASING CO., LTD. - - 103,397 99,459
- Others - - 19,577 17,893
Other Related Entities 1,286 2,844 1,286 2,844
Other Related Persons 213 162 208 160
Other Assets
Associated Companies 11 44 11 44
Deposits (Including financial institutions)
Associated companies and joint venture 2,951 427 2,951 427
Other Related Persons 20,557 18,097 20,428 17,975
(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.
39
(Million Baht)
2019 2018 2019 2018
Other Liabilities
Subsidiaries - - 587 490
Other Related Entities 22 6 22 6
Contingencies
Derivatives (notional amount)
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 30 September 2019 and 31 December 2018, the Bank and its related parties have rental agreements with remaining
tenures amounting to Baht 59 million and Baht 53 million, respectively.
The Bank has entered into a 1 year Information Technology service agreement with Kasikorn Business-Technology Group
and BEACON INTERFACE COMPANY LIMITED. As of 30 September 2019 and 31 December 2018, the Bank has
commitment to pay total service fees amounting to Baht 530 million and Baht 1,445 million, respectively.
40
19.2 Revenue and expenses between the Bank and related persons or entities is summarised as follows:
(Million Baht)
For the Three-month Period For the Three-month Period
Ended 30 September Ended 30 September
2019 2018 2019 2018
Interest income
Other income
Associated companies and joint venture 3 3 3 3
Interest expenses
Other expenses
(Million Baht)
For the Nine-month Period For the Nine-month Period
2019 2018 2019 2018
Interest income
Other income
Associated companies and joint venture 88 125 88 125
Interest expenses
Other expenses
41
19.3 Key management personnel(1) compensation

(Million Baht)
For the Three-month For the Three-month
Period Ended 30 September Period Ended 30 September
2019 2018 2019 2018
Short-term employee benefits 458 416 276 235
Post-employment benefits 26 22 17 15
Total 484 438 293 250
(Million Baht)
For the Nine-month Period For the Nine-month Period
2019 2018 2019 2018
Short-term employee benefits 1,609 1,374 966 747
Post-employment benefits 106 67 53 46
Total 1,715 1,441 1,019 793
(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.
42
20 SEGMENT INFORMATION
20.1 Information about reportable segments
The Bank and its subsidiaries (“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
The Group’s Corporate Business Customers include registered companies and certain private individual business
customers, government agencies, state enterprises, and financial institutions etc. The Group 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
The Group’s Retail Business comprises individual customers who use the Group’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 Group’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 Group’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.
43
(Million Baht)
Consolidated
For the Three-Month Period Ended 30 September 2019
Treasury Muang Thai
and Capital Group
Corporate Retail Markets Holding
Business Business Business Business Others Elimination Total
Interest income - net 11,199 7,438 2,903 4,570 57 (71) 26,096
Non-interest income 5,867 6,634 3,128 (375)(1)
3,070 (2,552) 15,772
Total operating income - net 17,066 14,072 6,031 4,195 3,127 (2,623) 41,868
Total other operating expenses 6,636 8,037 536 1,403 2,954 (1,764) 17,802
Operating profit before impairment
loss on loans and debt securities
and income tax expense 10,430 6,035 5,495 2,792 173 (859) 24,066
Impairment loss on loans and debt
securities 10,060
Operating profit before income tax
expense 14,006
(Million Baht)
Consolidated
For the Three-Month Period Ended 30 September 2018
Treasury Muang Thai
and Capital Group
Interest income - net 11,290 7,046 2,417 4,303 17 (69) 25,004
Non-interest income 5,737 6,841 436 (446)(1) 2,735 (2,253) 13,050
Total other operating expenses 6,079 7,771 588 1,306 2,021 (1,561) 16,204
and income tax expense 10,948 6,116 2,265 2,551 731 (761) 21,850
securities 8,211
expense 13,639
44
(Million Baht)
Consolidated
For the Nine-Month Period Ended 30 September 2019
Treasury Muang Thai
and Capital Group
Interest income - net 33,699 21,775 8,797 13,246 (191) (208) 77,118
Non-interest income 17,052 19,574 4,045 1,361 (1)
11,096 (11,482) 41,646
Total other operating expenses 19,232 23,644 1,642 4,207 7,847 (5,019) 51,553
and income tax expense 31,519 17,705 11,200 10,400 3,058 (6,671) 67,211
securities 25,187
expense 42,024
(Million Baht)
Consolidated
For the Nine-Month Period Ended 30 September 2018
Treasury Muang Thai
and Capital Group
Interest income - net 33,238 21,067 6,839 12,224 (92) (209) 73,067
Non-interest income 17,340 21,645 2,665 2,522 (1)
9,186 (8,959) 44,399
Total other operating expenses 17,951 23,224 1,847 4,052 6,340 (4,545) 48,869
and income tax expense 32,627 19,488 7,657 10,694 2,754 (4,623) 68,597
securities 24,024
expense 44,573
45
(Million Baht)
Consolidated
30 September 2019
Treasury and Muang Thai
Corporate Retail Capital Markets Group Holding
Reportable segment - Loans(2) 1,345,800 526,501 17,191 22,426 159,549 (122,975) 1,948,492
Unallocated assets 1,291,642
Total assets 3,240,134
Deposits and bills of exchange(3) 633,484 1,360,628 10,976 - 1 (6,203) 1,998,886
(Million Baht)
Consolidated
31 December 2018
Treasury and Muang Thai
Corporate Retail Capital Markets Group Holding
Reportable segment - Loans(2) 1,344,381 487,632 14,647 20,880 163,878 (117,346) 1,914,072
Unallocated assets 1,241,019
Total assets 3,155,091
Deposits and bills of exchange(3) 638,744 1,352,016 10,493 - 2 (6,254) 1,995,001

(1)
Net of underwriting expenses
(2)
Loans = Loans to customers less deferred revenue
(3)
Excluding bills of exchange with embedded derivative
46
21 INTEREST INCOME
Interest income consisted of:
(Million Baht)
For the Three-Month Period For the Three-Month Period
2019 2018 2019 2018
Interbank and money market items 1,389 1,529 1,231 1,330
Investments and trading transactions 118 62 96 53
Investments in debt securities 5,589 4,815 1,507 959
Loans to customers 24,440 23,567 24,475 23,605
Hire purchase and financial lease 1,484 1,314 - -
Others 4 3 - -
Total 33,024 31,290 27,309 25,947
(Million Baht)
For the Nine-Month Period For the Nine-Month Period
2019 2018 2019 2018
Investments and trading transactions 315 189 269 180
Investments in debt securities 15,640 13,031 3,807 2,083
Loans to customers 72,211 69,279 72,319 69,420
Hire purchase and financial lease 4,351 3,902 - -
Others 10 11 - -
Total 97,612 91,942 80,940 76,598
47
22 INTEREST EXPENSES
Interest expenses consisted of:
(Million Baht)
2019 2018 2019 2018
Deposits 3,605 3,121 3,573 3,090
Interbank and money market items 365 342 360 363
Contributions to Financial Institutions Development
Fund and Deposit Protection Agency 2,297 2,190 2,296 2,190
Debts issued
- Subordinated debentures 307 307 307 307
- Others 318 294 317 294
Others 36 32 - -
Total 6,928 6,286 6,853 6,244
(Million Baht)
2019 2018 2019 2018
Deposits 10,346 9,194 10,242 9,101
Contributions to Financial Institutions Development
Fund and Deposit Protection Agency 6,839 6,602 6,836 6,601
Debts issued
- Subordinated debentures 912 912 912 912
- Others 1,012 926 1,011 923
Others 102 93 - -
Total 20,494 18,875 20,293 18,752
48
23 GAIN ON INVESTMENTS
Gain on investments presented in the statements of profit or loss and other comprehensive income consisted of:
(Million Baht)
2019 2018 2019 2018
Gain (loss) on disposal
Available-for-sale investments 3,097 315 2,721 30
Held-to-maturity debt instruments (163) 409 - -
Total gain on investments 2,934 724 2,721 30
(Million Baht)
2019 2018 2019 2018
Gain (loss) on disposal
Available-for-sale investments 3,823 2,062 2,758 1,110
Held-to-maturity debt instruments (163) 409 - -
General investments - 1 - -
Investments in subsidiaries and associates - 1 - -
Total 3,660 2,473 2,758 1,110
Reversal on impairment investment
Investments in subsidiaries and associates - - 60 110
Total - - 60 110
Total gain on investments 3,660 2,473 2,818 1,220
49
24 (LOSS) GAIN ARISING FROM TRANSLATING THE FINANCIAL STATEMENTS OF A FOREIGN OPERATION
(Loss) gain arising from translating the financial statements of a foreign operation consisted of:
(Million Baht)
2019 2018 2019 2018
Loss arising from translating the financial
statements of a foreign operation (610) (1,005) (26) (90)
Gain from hedging instrument 469 834 20 96
Total (141) (171) (6) 6
(Million Baht)
2019 2018 2019 2018
Loss arising from translating the financial
statements of a foreign operation (1,663) (994) (241) (40)
Gain from hedging instrument 1,476 624 231 40
Total (187) (370) (10) -
50
25 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.
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 30 September 2019 and
31 December 2018 are as follows:
(Million Baht)
Consolidated
Level 1 Level 2 Total Level 1 Level 2 Total
Financial Assets
Derivative assets
- Exchange rate - 27,394 27,394 - 17,957 17,957
- Interest rate - 11,355 11,355 - 5,938 5,938
- Others - 221 221 7 368 375
Trading investments 4,487 17,323 21,810 3,423 15,853 19,276
Available-for-sale investments 74,920 262,125 337,045 48,587 218,211 266,798
Total Financial Assets 79,407 318,418 397,825 52,017 258,327 310,344
Financial Liabilities
Derivative liabilities
- Exchange rate - 23,163 23,163 - 16,269 16,269
- Interest rate - 9,474 9,474 - 4,222 4,222
- Others 25 176 201 17 561 578
Total Financial Liabilities 25 32,813 32,838 17 21,052 21,069
51
(Million Baht)
The Bank
Level 1 Level 2 Total Level 1 Level 2 Total
Financial Assets
Derivative assets
- Exchange rate - 27,408 27,408 - 18,019 18,019
- Interest rate - 11,355 11,355 - 5,938 5,938
- Others - 108 108 - 546 546
Trading investments - 17,088 17,088 - 15,610 15,610
Available-for-sale investments 23,568 227,082 250,650 6,138 192,692 198,830
Total Financial Assets 23,568 283,041 306,609 6,138 232,805 238,943
Financial Liabilities
Derivative liabilities
- Exchange rate - 24,495 24,495 - 17,104 17,104
- Interest rate - 9,474 9,474 - 4,222 4,222
- Others - 159 159 - 560 560
Total Financial Liabilities - 34,128 34,128 - 21,886 21,886
During the nine-month period ended 30 September 2019, 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 486
million and from level 2 to level 1 amounting to Baht 250 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 and listed unit trusts classified as trading investments and available-for-
sale investments 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 unit trusts considered to be inactive 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.
26 EVENTS AFTER THE REPORTING PERIOD

On 2 October 2019, the Bank issued subordinated and unsecured debentures, with a 12 year maturity due in 2031, in the
amount of USD 800 million. Interest is payable semi-annually at 3.343% per annum.
On 8 November 2019 AI GEN COMPANY LIMITED., a subsidiary of the Bank, increased its authorized, issued, and fully paid-
up share capital by Baht 295 million.
53

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KASIKORNBANK PUBLIC COMPANY LIMITED

and Its Subsidiaries

KPMG Phoomchai Audit Ltd.

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

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

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

Net profit - - - - - - - 31,426,152 31,426,152 4,561,566 35,987,718

Transferred to retained earnings - - (118,612) - - (118,612) - 118,612 - - -

Nine-month period ended 30 September 2019

Net profit - - - - - - - 29,924,602 29,924,602 4,093,870 34,018,472

Transferred to retained earnings - - (136,196) - - (136,196) - 136,196 - - -

Net profit - - - - - - - 26,816,447 26,816,447

Transferred to retained earnings - - (108,219) - - (108,219) - 108,219 -

Nine-month period ended 30 September 2019

Net profit - - - - - - - 26,913,630 26,913,630

Transferred to retained earnings - - (125,802) - - (125,802) - 125,802 -

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

(Increase) Decrease in operating assets

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

Note Contents Page

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

2 BASIS OF PREPARATION OF THE INTERIM FINANCIAL STATEMENTS

b) Functional and presentation currencies

Total Risk-Weighted Assets 2,174,280 2,081,697

Total Risk-Weighted Assets 2,102,180 2,014,943

5 SUPPLEMENTARY INFORMATION OF CASH FLOWS

6.2 Investments in other companies having a going concern uncertainty

7 INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES – NET

% Shareholding of the Bank

8 LOANS TO CUSTOMERS AND ACCRUED INTEREST RECEIVABLES – NET

8.2 Non-performing loans (NPL)

8.3 Non-accrual loans based on the accrual basis

8.4 Listed companies that meet SET’s criteria for delisting

9 TROUBLED DEBT RESTRUCTURING

10 ALLOWANCE FOR DOUBTFUL ACCOUNTS

11 REVALUATION ALLOWANCE FOR DEBT RESTRUCTURING

13 PREMISES AND EQUIPMENT – NET

14 EMPLOYEE RETIREMENT BENEFITS

15 INSURANCE CONTRACT LIABILITIES

Long-term technical reserves

17 ASSETS PLEDGED AS COLLATERAL AND UNDER RESTRICTION

18 CONTINGENT LIABILITIES AND COMMITMENTS

19 RELATED PARTY TRANSACTIONS AND BALANCES

19.3 Key management personnel(1) compensation

Deposits and bills of exchange(3) 633,484 1,360,628 10,976 - 1 (6,203) 1,998,886

Deposits and bills of exchange(3) 638,744 1,352,016 10,493 - 2 (6,254) 1,995,001

25 FAIR VALUE OF ASSETS AND LIABILITIES

26 EVENTS AFTER THE REPORTING PERIOD

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