Bangkok Bank, Thailand's largest lender, posted a 6.2% profit increase to 34.8 billion baht for the first nine months of 2024, driven by a rise in net interest income. TMBThanachart Bank also saw profit growth, while Tisco Financial Group and LH Financial Group reported declines due to higher provisions and lower investment gains, respectively.
Bangkok Bank (BBL), the largest lender in Thailand by assets, reported a 6.2% increase in net profit, amounting to 34.8 billion baht over the first nine months of 2024.
This performance was driven by a 4.4% rise in net interest income, as detailed in a filing with the Stock Exchange of Thailand (SET).
The bank's net interest margin stood at 3.05%, supported by effective liquidity management and improved yields.
Non-interest income also saw growth from investments, bancassurance, and mutual fund fees.
Despite a decline in total loans to 2.63 trillion baht, loans to large corporate clients expanded.
Meanwhile, TMBThanachart Bank (ttb) reported a 17.1% increase in net profit to 15.9 billion baht.
Conversely, Tisco Financial Group saw a 5.82% decrease in net profit due to higher expected credit losses, and LH Financial Group experienced a 15.7% decline in their net profit, largely due to reduced investment gains.