Thai banks show Bt173bn net profit in 2012
Play
Thai commercial banks showed the combined earnings of Bt173 billion in 2012, an increase of 21 per cent from the previous year, thanks to higher interest income, fee income and a lower corporate tax rate.
According to the Bank of Thailand's data, commercial banks witnessed a sharp increase in loand demand early in the year due to post-flood renovation. This allowed the banks to grow their loans by 13.7 per cent throughout the year. However, corporate loans expanded only 10.6 per cent on year, as exporters suffered from weak global demand and the issuance of more corporate bonds. Corporate loans at the end of the year accounted for 69.8 per cent of outstanding loans.
At the end of the year, the combined non-performing loans stood at Bt254.2 billion, or Bt11.9 billion down from the previous year. Gross NPL and net NPL slowed to 2.3 per cent and 1.1 per cent of outstanding loans, respectively.
