Banks post modest increase in profits

Quick Summary:

The banking sector reported a modest increase in profits for the first nine months of 2024, driven by gains in both interest and fee income, while continuing to allocate substantial reserves for loan losses in preparation for heightened uncertainties.

KBank, Thailand's third-largest lender by total assets, attributed its improved performance to increased interest and fee-based income, as well as financial support provided to customers.

However, six banks experienced a year-on-year decline in net profit, with Kiatnakin Phatra Financial Group (KKP) seeing the sharpest drop, with profits falling by 25%.

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Article Details

Category: EconomyBusiness

Markets: Thailand

Topics: Profit Baht Months Increase Reported Nine First 2024 Bank Year-on-year Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 04:00:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 504 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 23185003

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Official Website: bangkokpost.com

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Publisher ID: #66

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