BANGKOK, Jan 16 (Reuters) - Thailand’s fourth-largest lender, Kasikornbank, reported a 17 percent rise in 2013 net profit on Thursday due mainly to continued loan growth.
The bank reported 2013 net profit of 41.3 billion baht ($1.26 billion) versus 35.3 billion baht in 2012. That was in line with the 41.3 billion baht forecast by Thomson Reuters I/B/E/S.
Kasikornbank posted an October-December net profit of 9.53 billion baht, up from 7.69 billion baht a year earlier.
The bank has cut its 2014 loan growth target to 9 percent from 9-11 percent because the country’s economy looks like growing less than expected, hit by a continuing political crisis.
($1 = 32.8650 Thai baht)
Reporting by Khettiya Jittapong