Bank of Ayudhya a star performer in first half of year despite weak economy

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Bank of Ayudhya a star performer in first half of year despite weak economy

By The Nation

 

 

Nine listed commercial banks have reported total net profit of Bt107.59 billion for the first half of this year, up 3.62 per cent year on year (YoY), according to their reports to the Stock Exchange of Thailand on Friday.

 

Bank of Ayudhya saw its net profit surge to Bt19.7 billion for the first half, a 58 per cent growth YoY. CIMB Thai recorded a net profit of Bt430 million for the first half, up 19.44 per cent YoY while Krungthai Bank had a net profit of Bt15.4 billion in the first half, up 6.73 per cent YoY.

 

Kiatnakin Bank reported a net profit of Bt2.69 billion in the first half, down 11.91 per cent YoY. Siam Commercial Bank reported a net profit Bt20.1 billion, down 10.43 per cent YoY while Kasikornbank reported net profit of Bt19.9 billion in the first half, down 7.88 per cent YoY.

 

Ronadol Numnonda, Bank of Thailand deputy governor for finance institutions’ stability, blamed the slow economic growth, lower demand for loans and reduction in fee income due to increasing use of digital banking by customers for the decline in profits of some commercial banks.

He, however, added that the performance of these banks may recover in the second half when the new government launches measures to lift the economy. In addition, a recovery in the global markets may boost the country’s exports.

 

Source: https://www.nationthailand.com/business/30373311

 

-- © Copyright The Nation Thailand  2019-07-21

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[30la]

Strange is it? No, certainly not, the banks in Thailand are no different to the world banks, they are always in gain, the people lose and do not know where to get the money to survive, while governments, religions and banks continue to make money out of proportion.
For years we have been told that Thailand is growing, but if I look around I see more and more poor and "criminals" who are the result of society!