the two languages, the Thai version shall prevail. The objective of this MD&A is to present the information and the explanation of financial status and operating results as of the date hereof. However

Microsoft Word - CS 2563-005 Q1 to SET (T_E) [ TRANSLATION ] Our Ref. JTS/CS-005/2563 May 8, 2020 Subject : Report on the Company’s operating results for the first quarter of the year 2020 To

Microsoft Word - CS 2562-013 Q3 to SET (T_E) [ TRANSLATION ] Our Ref. JTS/CS-013/2562 November 11, 2019 Subject : Report on the Company’s operating results of the third quarter of the year 2019 To

. Other operating expenses fell Baht 471 million or 2.83 percent over-quarter. Given that the decrease in income was more pronounced than that of other operating expenses, our cost to income ratio rose to

. Moreover, other operating expenses increased by Baht 4,381 million or 6.41 percent, especially from branding campaigns and marketing activities in line with KBank’s business direction. As a result, the cost

2.03 27% Core EBITDA/t (US$/t)) 107 100 94 14% 97 86 13% Net Operating Debt to Equity 0.84 0.80 0.99 0.84 0.99 Note: (1) Consolidated financials are based upon elimination of intra-company (or intra

3 VIII. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 5 IX. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 6 X. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 7 XI. INTERESTS OF EXPERTS AND COUNSEL 8

level of capital and the regular setting aside of additional provisions, commercial banks can maintain an adequate cushion for NPL in the banking system. V3 12/05/63 3 Adoption of the pack of Thai

operating performance allowed KBank and K Companies to meet business targets while also gaining wide acceptance and recognition at home and abroad, as reflected in the numerous awards we received in this

revenue from money market product increased from foreign exchange transaction. Moreover, other operating expenses increased Baht 1,976 million or 2.98 percent over-year, due mainly to marketing expenses. 1