Higher provisions dent SCB's earnings
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Siam Commercial Bank set aside Bt5.13 billion as loan-loss provisions in the second quarter.
The amount was high compared to Bt3.6 billion set aside in the first quarter of this year and Bt3.22 billion reserved in the second quarter of last year.
In a statement released today, the bank said that its non-performing loans stood at 2.2 per cent of outstanding loans at the end of June, compared to 2.11 per cent at the same period last year.
In the second quarter of this year, it showed the unaudited earnings of Bt13.2 billion, up by 0.5 per cent from the previous quarter. The earnings showed a 10.2 per cent decrease from the same period last year, when the bank booked extra income from the divestment of its insurance business.
In the quarter, interest income rose by 1.9 per cent on year to Bt20.8 billion as loan extension increased by 4.8 per cent. Non-interest income fell by 5.5 per cent to Bt12.45 billion.
