BANGKOK, April 21 Thailand's second-largest
lender, Krung Thai Bank, reported a 2 percent drop in
quarterly net profit on Monday, mainly due to a lack of dividend
income from the state Vayupak fund and higher provisions related
to a weaker economic outlook.
The state-controlled bank posted a net profit of 8.3 billion
baht ($258 million) in the January-March quarter, down from 8.55
billion baht a year earlier. That compared with an 8 billion
baht average forecast by nine analysts polled by Reuters.
Thailand's biggest state bank has cut its loan growth target
to 4.5 percent this year to reflect the weaker economic outlook
and the impact from prolonged political unrest.
Shares in Krung Thai Bank, valued at $8.5 billion, have
fallen nearly 20 percent in the past 12 months, making them the
worst performer among major Thai banks. The sector index
fell 8 percent in the same period.
($1 = 32.1750 Thai Baht)
(Reporting by Khettiya Jittapong; editing by Jane Baird)