E_1 Legal_FA_2015_12_29-c A FFeeCCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended September 30, 2017 The Thai economy maintained steady growth in the

strategy that is based on three major pillars: topline growth, operational excellence, organization development. The “fixing the basics” program is nearly complete, resulting in upgrades of technical assets

strengthen business confidence both in the manufacturing and the service sectors. However, cost of manufacturing tended to rise following to the labor coat and material prices, while increasing prices of good

31.5% in the corresponding period last year. the rise in gross profits were achieved by both sale growth and improved gross profit margins mentioned above. The improvement in gross profit margins were

Ms. Areewan Aimdilokwong, Assistant Secretary-General of the Securities and Exchange Commission (SEC), joined the panel discussion on “Reshaping the Thai Capital Market towards Sustainable Growth

last year. When excluding exports of gold, value of exports declined by 3.5% mainly from the slow economic growth of trading partners including 3 the shutdown measures imposed by several countries with

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due

, decreased by Baht 153 million or 15% from Q2/2018. The drop was due to the rise in natural gas prices while Fuel tariff (Ft) rate remained constant; therefore, the gross profits of Rayong Central Utility

attributed to a rise in non-interest income, especially net profit from investment. Meanwhile, net interest income maintained its growth even though net interest margin (NIM) dropped as a result of impacts

achieve sustainable growth and returns while maintaining our long-term market leadership. Guided by our core strategies of “Customers’ Life Platform of Choice” along with “Customer Centricity”, KBank has