Bank OZK: 2022 Q1 Earnings – Key Points to Know!
- Rupam Deb
- Apr 29, 2022
- 1 min read
Bank OZK released its earnings for 2022 Q1 on 18 April 2022. The results were good, and there was not any material unexpected development. In 2022 Q1:
Total interest income decreased by 0.6% y/y (to USD 262m), as the average earning assets decreased slightly by 3.2% y/y.
However, net interest income increased by 6.3% y/y (to USD 249m) due to higher net interest margin of 4.24% (an increase of 0.38% point y/y).
Non-interest expense was kept in control, growing by only 1.6% y/y, leading to a good low efficiency ratio of 38.2% (lower than the 39.6% a year ago).
Net income (to common stockholders) decreased y/y by 13.7% or USD 20m (to USD 128m), mainly due to the negative impact due to changes in provision for credit losses of USD 36m. Excluding the impact of this provision, pre-tax pre-provision net revenue actually increased by 7.7% (or USD 12m) y/y to USD 173m.
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