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Thailand's Siam Commercial Bank Q4 net profit jumps 45 pct
January 21, 2013 / 10:42 AM / in 5 years

Thailand's Siam Commercial Bank Q4 net profit jumps 45 pct

BANGKOK, Jan 21 (Reuters) - Siam Commercial Bank (SCB) , Thailand’s third-largest lender by assets, reported a 45 percent rise in quarterly net profit on Monday, helped by solid loan growth a low comparative base a year earlier when the Southeast Asian country had been hit by severe flooding.

SCB made a net profit of 9.7 billion baht ($326 million) in the October to December period, up from 6.7 billion baht a year earlier and compared with the 9.4 billion baht forecast by 10 analysts polled by Reuters.

For 2012, the bank reported a net profit of 40.2 billion baht, up 29 percent from a year earlier.

SCB is 21.3 percent owned by the Thai royal family’s investment arm, the Crown Property Bureau. It posted loan growth of 19.7 percent in 2012, it said in a statement. ($1 = 29.73 baht) (Reporting by Khettiya Jittapong; Editing by Chris Gallagher)

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