Siam Commercial Bank sees better first quarter profit

The lender bank sought to finalize deal for a possible merger in the petrochemical sector worth $2bn.

Thailand's Siam Commercial Bank said on Tuesday it expected its first quarter net profit would be higher both on the year and on the quarter due to rising loan growth and higher fee-based income.

The bank expected to conclude financial advisory deal for a possible merger in the petrochemical sector worth up to 60 billion baht ($2 billion) soon, Senior Executive Vice President Arthid Nanthawithaya told Reuters in its report last Tuesday.