Krung Thai Bank 2013 net profit up 45 pct, beats forecast

BANGKOK Tue Jan 21, 2014 7:11am EST

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BANGKOK Jan 21 (Reuters) - Krung Thai Bank, Thailand's second-largest lender by assets, reported a higher than expected 45 percent rise in 2013 net profit, thanks to strong loan growth, higher net interest and fee income.

The state-controlled bank posted a net profit of 33.9 billion baht ($1.03 billion) in 2013, with lending up by 11.8 percent, it said in a statement.

That compared with 23.4 billion baht in 2012 and the average 30.7 billion baht forecast by seven analysts polled by Reuters.

The country's biggest state bank set aside loan loss provision of 11.6 billion baht, down 22.7 percent from a year earlier. ($1 = 32.8400 Thai baht) (Reporting by Khettiya Jittapong; Editing by David Goodman)