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Bangkok Bank Q3 net profit down 5.4 pct, provisions surge
October 20, 2015 / 12:30 PM / 2 years ago

Bangkok Bank Q3 net profit down 5.4 pct, provisions surge

BANGKOK, Oct 20 (Reuters) - Bangkok Bank Pcl, Thailand’s top lender by assets, said on Tuesday third-quarter net profit fell 5.4 percent as the amount it set aside for bad loans surged by 47 percent as the economy continued to weaken.

Net profit was 9.06 billion baht ($255.93 million) for the July-September quarter, slightly higher than the average 8.64 billion baht forecast by 12 analyts polled by Reuters. This compared with 9.57 billion baht a year earlier.

Loans grew 1.6 percent in the first nine months, with non-performing loans rising to 2.8 percent of total lending at the end of September compared with 2.5 percent in the previous quarter, the bank said in a statement. ($1 = 35.4000 baht) (Reporting by Khettiya Jittapong and Manunphattr Dhanananphorn, editing by Louise Heavens)

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