July 19, 2018 / 11:32 AM / 3 months ago

Thailand's Siam Commercial Bank profits slide 6.7 pct on fee cuts

BANGKOK, July 19(Reuters) - Thailand’s second-largest bank, Siam Commercial Bank Pcl (SCB) , on Thursday reported an 6.7 percent drop in second-quarter net profit due to higher expenses and lower non-interest income.

SCB’s profits of 11.1 billion baht ($331.84 million) for the quarter ended June were down from 11.9 billion baht a year ago, but above an average estimate of 9.9 billion baht from three analysts polled by Thomson Reuters.

Loan growth stood at 6.7 percent, but non-interest income fell 6.2 percent year-on-year to 10.5 billion baht due to a digital transaction fee waiver. ($1 = 33.4500 baht) (Reporting by Chayut Setboonsarng; Editing by Himani Sarkar and Jan Harvey)

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