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Thai Kasikornbank Q3 net profit down 19 pct on higher provisions
October 20, 2015 / 10:34 AM / 2 years ago

Thai Kasikornbank Q3 net profit down 19 pct on higher provisions

BANGKOK, Oct 20 (Reuters) - Kasikornbank Pcl, Thailand’s fourth-largest lender, said on Tuesday quarterly net profit fell 19 percent from a year earlier mainly due to higher loan loss provisions to cover rising bad debt.

Net profit was 10.12 billion baht ($285.96 million) for July-September quarter, in line with the average 10.3 billion baht forecast by 15 analysts polled by Reuters.

The bank’s non-performing loans (NPLs) rose to 2.62 percent of total lending at the end of September, versus 2.39 percent in the second quarter, with loans growing 3.32 percent in the first nine months, it said in a statement. ($1 = 35.3900 baht) (Reporting by Khettiya Jittapong; Editing by Michael Perry)

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