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Thailand's Kbank Q3 profit falls on higher provisions
October 20, 2017 / 2:50 AM / a month ago

Thailand's Kbank Q3 profit falls on higher provisions

BANGKOK, Oct 20 (Reuters) - Kasikorn Bank, Thailand’s third largest lender, on Friday reported a 12.4 percent drop in third-quarter profit at 9.47 billion baht ($285.8 million), hurt by higher provisions.

Provision for loan losses was 95.4 billion baht during the quarter, up from 81.3 billion baht in the same time last year.

The bank’s non-interest income rose 5.6 percent from last year to 16.4 billion baht, while net interest income grew 6 percent to 23.7 billion baht.

Non-performing loans ratio to total loans was 3.3 percent. The bank’s earnings fell short of expectations of 9.8 billion baht, based on four analysts polled by Reuters.

Its performance followed peers with fee and interest income growing, but earnings growth was held back by expenses and higher provisions. ($1 = 33.1400 baht) (Reporting by Chayut Setboonsarng; Editing by Gopakumar Warrier)

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