Ms. Kattiya Indaravijaya, Chief Executive Officer of Kasikornbank, revealed that the Thai economy in 2025 faced pressures from both structural issues and negative factors that gradually impacted throughout the year. The industrial production continued to contract, while the tourism sector did not recover as expected. Additionally, signals from domestic spending showed a weakening trend, as household consumption faced constraints from high household debt levels and uneven income recovery. The uncertainty surrounding U.S. import tax measures and domestic political factors affected private sector investment decisions. Although the export sector expanded significantly due to accelerated exports before the U.S. import tax measures took effect, and the domestic interest rate cuts helped ease the financial burden for some borrowers, these supports were still insufficient to offset the pressures from the overall economic slowdown.

For 2026, the Thai economy is expected to continue slowing down due to the intensified impact of external factors, including U.S. import taxes, the trade war between the U.S. and its trading partners, and the global economic slowdown, which will pressure Thailand's export sector. Meanwhile, private sector spending, both consumption and investment, remains constrained by economic and political uncertainties. Although government spending still plays a role in supporting the economy, it may not provide significant additional support.

Amid increasing business challenges from both domestic and international economic factors, Kasikornbank and its subsidiaries continue to operate cautiously, following the 3+1 strategy and continuously improving operational productivity to deliver sustainable value to all stakeholders, including depositors, investors, individual customers, business clients, and providing stable returns to shareholders, while also supporting government projects to assist customers fully within the context of a highly uncertain economy.

In 2025, the bank and its subsidiaries reported a net profit attributable to the bank of 49.565 billion baht, remaining close to the previous year. The profit from operations before expected credit loss and income tax was 109.951 billion baht, a decrease of 4.043 billion baht or 3.55% from the previous year, resulting from net interest income of 137.152 billion baht, which decreased by 10.852 billion baht or 7.33% due to interest rate conditions, including interest rate cuts during the year to help enhance liquidity and reduce financial burdens for customers, along with a slowdown in loan growth. This led to a net interest margin (NIM) of 3.23%. However, non-interest income amounted to 57.648 billion baht, an increase of 7.408 billion baht or 14.75%, primarily due to 1) growth in insurance service performance, 2) growth in net fees and service income, mainly from wealth management services provided to customers through a comprehensive range of financial products from both the bank and its subsidiaries, as well as partners, in line with favorable market conditions for investment, and 3) net profits from various financial instruments and investment income, supported by a risk diversification policy and appropriate return generation in line with market conditions. Other operating expenses totaled 84.849 billion baht, a slight increase of 599 million baht or 0.71%, which included special expenses for employee care. The bank and its subsidiaries continue to prioritize operational productivity management, with the cost-to-income ratio at 43.56%. Additionally, the bank and its subsidiaries considered setting aside expected credit loss reserves of 40.312 billion baht, a decrease of 6.939 billion baht or 14.69%, while still maintaining a cautious reserve level that has been consistently applied to ensure the reserve level is appropriate in line with the situation and uncertainties of the economic factors that continue to pose challenges.

In the fourth quarter of 2025, compared to the previous quarter, the bank and its subsidiaries had a profit from operations before expected credit loss and income tax of 24.825 billion baht, a decrease of 3.455 billion baht or 12.22% due to reduced net interest income. Additionally, other operating expenses amounted to 23.027 billion baht, an increase of 2.061 billion baht or 9.84%, which is seasonal spending. The bank and its subsidiaries considered setting aside expected credit loss reserves of 10.265 billion baht, which is similar to the previous quarter, to maintain an appropriate reserve level to support the uncertainties of the continuously slowing economy, while future conditions continue to face challenges from both domestic and international volatility. The net profit attributable to the bank in the fourth quarter of 2025 was 10.278 billion baht, a decrease of 2.729 billion baht or 20.98% from the previous quarter.

As of December 31, 2025, the bank and its subsidiaries had total assets of 4,558.618 billion baht, an increase of 217.664 billion baht or 5.01% compared to December 31, 2024. This increase was primarily due to net investments, which were made based on market conditions and interest rate trends. However, net loans slightly decreased in line with economic conditions, as the bank continues to focus on quality loan expansion with risk-adjusted returns and maintains a strong emphasis on asset quality. The ratio of non-performing loans (NPL) to total loans (%NPL gross) stood at 3.20%, necessitating careful monitoring of asset quality in the face of ongoing economic uncertainties. The coverage ratio for expected credit loss reserves to non-performing loans increased to 162.75%. The total capital ratio to risk-weighted assets of Kasikornbank's financial business group, according to Basel III guidelines, remained strong at 20.35% as of December 31, 2025.