Picture courtesy of Bangkok Post
Thai banking sector profits have seen a modest uptick for the first nine months of 2024, buoyed by rising interest and fee incomes.
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Thai banking sector profits have seen a modest uptick for the first nine months of 2024, buoyed by rising interest and fee incomes. Yet, the backdrop of swirling economic uncertainties has kept banks on their toes, continuing to stash away hefty reserves for potential loan losses.
The pack of 10 Stock Exchange of Thailand (SET) listed banks and their subsidiaries reported a collective net profit of 159 billion baht, reflecting a 3.49% increase year-on-year. Notably, Krungthai Bank’s (KTB) figures remain under wraps.
Leading the charge, Kasikornbank (KBank) posted a net profit of 38.1 billion baht, up 15.4% from the previous year, while TMBThanachart Bank (TTB) claimed the crown for the highest profit growth, leaping up by 17% to hit 15.9 billion baht.
However, it wasn’t smooth sailing for all. Six banks watched their profits shrink, with…