SCB shows another record quarterly results

 

The stock ended at Bt165.50, down 0.3 per cent. But it hit Bt170 on October 4, as investors anticipated positive performance. 

In the quarter, the bank's net profit reached Bt10.02 billion, thanks to higher net interest income.

 

Chairman Vichit Suraphongchai, stated that “the continued strong financial results underscore the high level of core profitability and its sustainability. For three consecutive quarters, the bank has delivered record high results for each quarter and this speaks to the effectiveness of the Bank’s strategies and its execution as well as the soundness of the post-flood economic recovery”. 

Cumulative net profit in the first nine months is Bt30.4 billion, 24.4 per cent up from the same period last year.

In the third quarter, the bank experienced a 20.2 per cent annualised loan growth, primarily on mortage and auto loans and loans to SMEs. This pushed the net interest income to Bt16.2 billion, up 19.6 per cent from the same period last year. Its non-performing loans were at 2.13 per cent, down from 2.61 per cent at the end of 2011.

  

 

 “The results are the outcome of the bank’s ability to successfully identify and grow specific customer segments through innovative products and services. These efforts are anchored on avowed ‘Customer First’ principle and driven by highly motivated and engaged employees.  It is through this virtuous cycle of customers and employees that the Bank steadily delivers on its ’Bank of Choice’ vision to its many stakeholders," said President Kannikar Chalitaporn.