In a Thursday statement, the bank said there was a 12.3% decline in operating expenses due to better optimisation of resources and cost management.
This resulted in an improved cost-to-income ratio of 55.7% as compared to 9M20.
The bank added that there was a 6% decrease in expected credit losses despite a 5.4% drop in operating income.
For the three quarters, the bank reported a 5.4% decline in operating income to THB10.88bil due to a 9.4% drop in interest income on loan and hire purchase business from lower credit expansion.
This was partially offset by a 16.7% increase in net fee and service income, driven by higher fee income from insurance and mutual fund brokerage.
Other operating income increased 0.2% due to an increase in gains on financial instruments measured at fair value through profit or loss.
Net interest margin (NIM) over earning assets stood at 3.1% in 9M21, compared to 3.3% in 9M20, resulting from lower interest income on loans and hire purchase business.
The gross NPL stood at THB9.6bil, with a lower equivalent gross non-performing loan (NPL) ratio of 4.4% compared to 4.6% as at 31 December 2020.
The lower NPL ratio was mainly due to the sale of some NPLs in 2021, more efficient risk management policies, improved asset quality management and loan collection processes.
CIMB Thai Group’s loan loss coverage ratio as at Sept 30, 2021, stood at 105.9% from 93.3% at the end of December 2020.
Total allowance for expected credit losses stood at THB9.4bil, THB1.7bil over the Bank of Thailand’s reserve requirements.
Total consolidated capital funds as at Sept 30, 2021, stood at THB54bil.
BIS ratio stood at 20.7%, 15.0% of which comprised Tier-1-capital.