Bank of Ayudhya Q3 net profit up 1.4 pct, missing forecast
BANGKOK Oct 18 (Reuters) - Thailand's fifth-largest lender, Bank of Ayudhya, reported a 1.4 percent rise in quarterly net profit on Friday, due to continued loan growth, rising fee income and lower provisions.
The bank made a net profit of 3.79 billion baht ($122 million) for the July-September quarter, up from 3.74 billion a year earlier, and below the average 4.5 billion baht forecast by four analysts polled by Reuters.
Japan's Mitsubishi UFJ Financial Group (MUFG) is in the process of buying a stake in Bank of Ayudhya from minority shareholders after General Electric sold its 25.33 percent stake in the Thai bank to MUFG.
Shares in Bank of Ayudhya, valued at $7.4 billion, have risen 24 percent in the past 12 months, outperforming a 14 percent rise in the main Thai index. ($1 = 31.0350 Thai baht) (Reporting by Khettiya Jittapong; Editing by Martin Petty)