Most major Thai banks reported weaker-than-expected quarterly earnings on Thursday as they booked higher provisions for bad debt, with loans weak amid a tepid recovery in the country's economy. Bangkok Bank, the top lender by assets, reported a first-quarter net profit of 8.3 billion baht, down 0.15% from a year earlier. That was below the average forecast of 8.6 billion baht by four analysts polled by Reuters. Third-ranked Siam Commercial Bank's net profit rose 1% rise in the first quarter to 11.9 billion, but that missed market expectations. Fitch Ratings said in January Thai banks' profits were likely to remain under pressure from asset-quality issues and slow fee-income growth.

Source: Bangkok Post April 20, 2017 13:52 UTC