Classifieds 50% off, use promo code FBkpkPromo The Phuket News Kata Rocks The Phuket News Outrigger Koh Samui Beach Resort
The Phuket News Business News
The Phuket News Phuket | Thailand | World | Business | Q&A | Weird World XML, RSS, Feed
The Phuket News The Phuket News
The Phuket News

Bank profits gain 16pc

BANGKOK: Banks reported a combined net profit of B54 billion during the July-to-September quarter, up from B46.6 billion posted over the same period last year, according to their filings to the Stock Exchange of Thailand (SET).

economics,


Bangkok Post

Saturday 29 October 2016, 08:00AM


Eleven SET-listed banks delivered a 16% year-on-year increase in net profit for the three months to September, thanks largely to lower impairment charges.
Eleven SET-listed banks delivered a 16% year-on-year increase in net profit for the three months to September, thanks largely to lower impairment charges.

They set aside a total of B39.1 billion for the third quarter, down significantly from B50.3 billion in the corresponding period a year ago.

Kiatnakin Bank was the best performer among its industry peers in terms of percentage.

The small bank's quarterly consolidated net profit stood at B1.69 billion, up 83% from B923 million year-on-year, with higher income from net interest, fees and services cancelling out higher impairment charges.

The bank's net interest rate income surged 19.5% year-on-year to B2.96 billion in the third quarter, and its net fee and services income rose 7.7% to B888 million. It put aside loan-loss reserves of B1.01 billion in the quarter, up from B941million a year earlier.

Krungthai Bank (KTB), the country's second-largest lender by assets, was the No.2 performer, with a 61% rise in quarterly consolidated net profit to B8.62 billion.

The gain was attributed to a sharp reduction in its impairment cost to B7.64 billion for the quarter from B10.45 billion a year earlier.

KTB's loan-loss coverage ratio stood at 106% at the end of September. In the third quarter last year, KTB was required by the central bank to fully set aside provisions for loans borrowed by debt-ridden Sahaviriya Steel Industries Plc (SSI) and its loss-making subsidiary SSI UK after it defaulted.

MY STORAGE - Secure, Clean and Cost Effective Self Storage at Jungceylon, Phuket, Thailand

The 12.5% rise in net interest income to B21.6 billion for the three months to September helped earnings, though KTB's net non-interest income fell by 17.3% year-on-year to B5.59 billion.

KTB's gross non-performing loans (NPLs) surged by 28.9% year-on-year to B98.4 billion baht in September. Its gross NPL ratio jumped to 4.2% at the end of last month from 3.2% in December. Corporate, small-business and retail loans, as well as the decline in KTB's loans outstanding, contributed to the NPL upsurge.

KTB's total loans dropped by almost 6% to B1.9 trillion at the end of September. For the first nine months, the bank's earnings shot up 14.4% year-on-year to B24.84 billion baht.

On the opposite end, TMB Bank was the worst performer in the third quarter. Its unreviewed consolidated net profit plunged 34% year-on-year to B1.85 billion as larger loan-loss provisions took a bite out of earnings. The bank set aside B2.54 billion in provisions for the period, up from B820 million a year earlier.

Bangkok Bank, Thailand's largest lender by assets, was the only bank among the big four that saw earnings dip. It posted a 11% year-on-year fall in unreviewed consolidated net profit for the period.

Read original story here.

 

 

The Phuket News
The Phuket News
Comment on this story
* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.
Comments Here:
Username:
Password:
E-mail:
Security:
    Forget your password?

Be the first to comment.

The Phuket News
The Phuket News The Phuket News The Phuket News
The Phuket News
Share this
The Phuket News
Have a news tip-off? Click here
The Phuket News
Related stories
The Phuket News
Phuket community

Recent Comments


August 3 set as final deadline for Patong taxis to return parking spaces to public

Pauly44,comment from 13.22.Of course in your country every foreigner gets treated like a friend and nobody would ever think of money making from touri...(Read More)


Phuket expats call for action over deadly Patong Hill road

Neither options would work in my book Christy, far too much traffic flows through there for any disruptions, have a weigh/checking station off the mai...(Read More)


Phuket expats call for action over deadly Patong Hill road

Pauly 44, The authorities were going to post police at the bottom of the hill which was going to cause congestion anyway. Not only is that futile, but...(Read More)


Chinese girl, 11, dies after snorkelling off Phuket

Timothy...she is an 11 year old child with parents, extended family and friends...a fellow human being. Compassion is obviously not one of your strong...(Read More)


August 3 set as final deadline for Patong taxis to return parking spaces to public

Jimbobwalton: I am the same, i avoid Patong like the plague and have not used a tuk tuk for about 19 years...and yes there weren't that many aroun...(Read More)


August 3 set as final deadline for Patong taxis to return parking spaces to public

CaptainJack69...I find ematt's comments far from "vapid" in that he has an extremely valid point and relevant. One only has to read his ...(Read More)


August 3 set as final deadline for Patong taxis to return parking spaces to public

Standard fare Captainjack from the don't like Thailand leave brigade; aka ematt, jor 12, eagle and the rest of sympathizers, it's the only com...(Read More)


August 3 set as final deadline for Patong taxis to return parking spaces to public

@ematt: No matter how valid your point may be, please refrain from vapid comments like "maybe time [for you] to leave". This is trolling and...(Read More)


Chinese girl, 11, dies after snorkelling off Phuket

Another day, another dead tourist, or two, or three....Ho hum... Let's get those arrival numbers up! Make sure they all have insurance, so we don&...(Read More)


August 3 set as final deadline for Patong taxis to return parking spaces to public

Ben - Regarding " just want to do checkpoints where they can take farangs money", the vast majority of checkpoint money is collected from Th...(Read More)

The Phuket News
Bangkok Hospital Phuket
PHUKET NEWS
Phuket
Thailand
World
Business
Q A
Weird World
ARCHIVE
POLL
CURRENCY
WEATHER
PHUKET TIDE TABLE
The Phuket News PHUKET LIFE
Phuket Arts
Phuket Community
Phuket Culture
Phuket Dining
Phuket Education
Phuket Entertainment
Phuket Environment
Phuket Health
Phuket People
Phuket Technology
Phuket Travel
Photo Galleries
COLOURING BOOK
The Phuket News PHUKET SPORT
Phuket
Thailand
World
SURF REPORT
PREDICTIONS
The Phuket News PHUKET CLASSIFIEDS
Phuket Buy and Sell
Phuket Jobs
Phuket Property
Phuket Cars and Boats
Phuket Community
Phuket Services
SEARCH CLASSIFIEDS
POST CLASSIFIED
The Phuket News The Phuket News PHUKET EVENTS
Phuket Event listings
Phuket Event calendar
Buy Tickets
POST EVENT
The Phuket News PHUKET DIRECTORY
Phuket Bars, pubs and clubs
Phuket Hotels and villas
Phuket Restaurants
Phuket Yellow Pages
POST LISTING
The Phuket News BARGAINS
The Phuket News ABOUT US
The Company
Distribution points
Subscribe
Advertise with us
Pay for advert
Contact us
CONTESTS
Content Google Map
Site map
Australian Visa Services
 
Currency - The Phuket News   Weather Report - The Phuket News   Surf Report - The Phuket News
LinkedIn - The Phuket News   Twitter - The Phuket News   YouTube - The Phuket News   Facebook - The Phuket News
Copyright © 2017 Class Act Media. All rights reserved. | Website usage terms and conditions | Privacy and Confidentiality Statement.