Three major banks on Thursday reported higher net profits for 2013 compared with 2012, but the last quarter showed a significant drop from the previous quarter, mainly due to extra loan-loss provision.
Siam Commercial Bank announced a net profit of 50.2 billion baht ($1.53 billion) for 2013, a 28 percent rise from 2012. The substantial gain was attributed to higher net interest income and solid growth in non-interest income, including from fees and insurance premiums.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 32.8150 Thai baht) (Bangkok Newsroom; Editing by Subhranshu Sahu)