RETAIL BANKING | Tony Chua, Thailand

Thailand banks' profits surge as loans recover

Kasikornbank, Kiatnakin, Siam City, Tisco among local lenders that reaped growth despite political unrest.

Local banks have announced improved results for the first half of this year, thanks to healthy loan growth in line with an improving economy despite the political turmoil during the second quarter.

Kasikornbank on Monday reported a net profit for the first half of 9.12 billion baht ($282.4 million), an increase of 21.68% from the same period last year, supported by higher interest and non-interest revenue.

The country's fourth-largest bank by assets said that interest and dividend income was 24.56 billion baht ($760.48 million), up 12.45% from the same period last year. The bank's net interest margin for the second quarter increased to 3.78% compared with 3.66% in the previous quarter.

Bank booked total outstanding debt at 973.56 billion baht ($30.14 billion) as of June 30, up 3.73% from the end of last year. It said gross non-performing loans were a satisfactory at 3.19% of total credit outstanding, down from 3.51% at the end of March.

View the full story in Bangkok Post.

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