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Thai Kasikornbank 2012 net profit meets forecast at 35.3 bln baht
January 18, 2013 / 1:24 AM / in 5 years

Thai Kasikornbank 2012 net profit meets forecast at 35.3 bln baht

BANGKOK, Jan 17/18 (Reuters) - Kasikornbank, Thailand’s fourth-largest lender, reported a 153 percent rise in quarterly net profit on Friday, reflecting a low base in the same period of 2011 when the economy was hit by severe flooding.

Kasikornbank made an October-December net profit of 7.7 billion baht ($33.59 million), up from 3.03 billion a year earlier but down from 9.2 billion in the third quarter.

Ten analysts polled by Reuters had forecast average earnings of 7.5 billion baht.

For 2012 as a whole, the bank reported a net profit of 35.3 billion baht, up from 24.2 billion a year earlier, due to strong loan demand.

Like other Thai banks, Kasikornbank should benefit from robust loan demand on the back of healthy growth in the economy. It has aimed for loan growth of 9-11 percent in both 2012 and 2013.

$1 = 29.7700 Thai baht Reporting by Apornrath Phoonphongphiphat; Editing by Kim Coghill

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