First-half operating results for two SET-listed financial institutions saw lower net profit and higher bad-loan ratios, in line with most commercial banks' disappointing results as the pandemic took a bite out of their fortunes. Siam Commercial Bank (SCB) and its subsidiaries reported consolidated net profit for the second quarter of 8.36 billion baht, down 24% year-on-year, mainly from higher loan-loss provisions. For the first half of 2020, net profit stood at 17.61 billion baht, down 13% year-on-year, while pre-provision operating profit grew by 15% year-on-year. Krungthai Bank (KTB) and its subsidiaries announced a net profit of 3.82 billion baht for the second quarter, down 53.1% year-on-year. First-half net profit was 10.29 billion baht, down 33.5% year-on-year.

Source: Bangkok Post July 21, 2020 23:15 UTC