The mid-sized bank's net profit in the year was Bt14.02 billion, against Bt14.63 billion in the previous year.
In a statement to the Stock Exchange of Thailand, the bank attributed the lower net profit to extra loan-loss provision.
The bank set aside additional Bt2.55 billion as provision in June, to cope with the downward economic trend.
Siam Commercial Bank yesterday reported the annualised net profit of Bt50 billion for 2013.