10 Thai banks record 3.60% decline in total profit for first nine months
Fee income, loan growth and cost controls cushion pressure from falling interest rates, with results varying among 10 listed banking groups.
- Ten listed Thai banks saw their combined net profit fall by 3.60% to THB 198.97 billion in the first nine months of 2026 compared to the previous year.
- The primary reason for the overall profit decline was falling interest rates, which reduced net interest income (NII) and net interest margins (NIM) for several banks.
- Despite the aggregate drop, a number of individual banks reported profit growth by offsetting lower interest income with
Ten listed banking companies recorded combined net profit of approximately THB198.96812 billion in the first nine months of 2026, according to figures compiled by Thansettakij. The total was down THB7.42217 billion, or 3.60%, from THB206.39029 billion a year earlier. The companies were BAY, BBL, CREDIT, KBANK, KKP, KTB, LHFG, SCB, TISCO and TTB.
Taken together, the companies’ reported figures show that falling interest rates reduced net interest income (NII) and net interest margins (NIM) at several banks. Non-interest income, cost controls and lower credit losses provided varying degrees of support.
BAY profit rises 3.9% as TIDLOR supports margin
Bank of Ayudhya Public Company Limited (BAY) posted nine-month net profit of THB25.572 billion, up 3.9% year on year. Growth in large corporate lending and lending in Association of Southeast Asian Nations (ASEAN) markets, the contribution from the TIDLOR portfolio, higher non-interest income and efficient management of funding costs and expenses supported the result.
NIM rose to 4.58% from 4.28% a year earlier, reflecting higher yields on the loan portfolio after the TIDLOR portfolio was included, as well as deposit restructuring to reduce costs. Non-interest income increased by 3.7%, or THB1.444 billion, while the cost-to-income ratio fell to 45.6% from 46.4%. The non-performing loan (NPL) ratio declined to 3.19% from 3.26% at the end of 2025, with credit costs of 231 basis points.
BBL profit falls 21% on weaker interest income and investment gains
Bangkok Bank Public Company Limited (BBL) reported net profit of THB29.981 billion, down 21% year on year. NII fell to THB84.785 billion as the bank cut interest rates to ease customers’ burdens, with NIM at 2.47%. Loan growth partly offset the impact.
Non-interest income declined to THB37.025 billion, mainly because of lower investment gains, although net fee and service income rose through bancassurance, mutual funds and securities business. Operating expenses fell 4.6% to THB58.717 billion, while expected credit losses (ECL) decreased 13.9% year on year to THB25.444 billion. The NPL ratio rose to 3.2% from 3.0% at the end of 2025, and the coverage ratio was 322.1%.
CREDIT profit rises 19.4% as lending grows but margin narrows
Thai Credit Bank Public Company Limited (CREDIT) earned net profit of THB3.3929 billion, an increase of 19.4% year on year. Interest income rose 9.9%, or THB1.3372 billion, supported by growth in core lending and compensation income from debtor assistance measures. Total lending at the end of the third quarter was up 13.8% year on year.
Nine-month NIM declined to 7.3% from 7.7%. On a quarterly basis, NIM recovered from its first-quarter low, helped by lower funding costs and adjustments to loan products according to risk levels. The NPL ratio fell to 4.0% from 4.2% in the third quarter of the previous year, while the coverage ratio stood at 156.0%.
KBANK profit rises 3.43% with underlying earnings broadly flat
KASIKORNBANK Public Company Limited (KBANK) reported net profit attributable to the bank of THB40.635 billion, up 3.43%. Excluding one-off compensation income relating to investment value of THB1.455 billion, net profit was THB39.311 billion, broadly unchanged from a year earlier.
NII fell 8.87% to THB94.992 billion as interest rates declined and the bank lowered rates to help customers, leaving NIM at 2.89%. Non-interest income rose 21.51% to THB51.894 billion, supported by wealth management, fund management, investment and insurance services. Operating expenses decreased 3.07% to THB59.922 billion.
ECL amounted to THB30.171 billion, equivalent to credit costs of 1.60% of average loans. The NPL ratio was 3.18%, with a coverage ratio of 177.90%.
KKP profit rises 56.1% on financial services income
Kiatnakin Phatra Bank Public Company Limited (KKP) recorded consolidated net profit of THB6.466 billion, up 56.1% year on year. The main driver was a 40.2% increase in non-interest income, supported by wealth management, Dime!’s digital and investment services, fund management fees, investment banking and insurance brokerage, alongside higher gains on financial instruments and dividend income.
NII recovered in the third quarter, rising 6.5% year on year through funding cost management. Total loans grew 3.7% from the end of 2025. Third-quarter ECL amounted to THB928 million, while the NPL ratio fell to 3.4% from 4.3% at the end of 2025. The coverage ratio was 154.7%.
KTB profit broadly steady as fees and wealth business provide support
Krung Thai Bank Public Company Limited (KTB) reported net profit attributable to the bank of THB37.145 billion, down 0.8% year on year. NII declined 13.0% as interest rates fell and the bank reduced rates to support debtors. Non-interest income continued to grow through wealth management, money and capital market businesses, and gains from revaluing investments in the transportation sector.
Cost controls reduced the cost-to-income ratio to 38.8% from 40.1%. The bank maintained appropriate provisions, with credit costs of 0.98%, an NPL ratio of 2.93% and a coverage ratio of 205.3%. Its reported NIM for the third quarter of 2026 was 2.44%.
LHFG profit rises 14.8% on interest and fee income
LH Financial Group Public Company Limited (LHFG) posted net profit of THB2.347 billion, up 14.8% year on year. NII increased 11.6% to THB5.6653 billion, while net non-interest income rose 14.4% to THB1.8702 billion. Fee and service income grew 48.2%, and gains on financial instruments also increased.
In its banking business, Land and Houses Bank Public Company Limited (LH Bank) reported NIM of 1.90%. Credit-impaired loans totalled THB9.5845 billion, representing an NPL ratio of 2.48%, with a coverage ratio of 140.8%.
SCB profit falls 14.3% as bond losses weigh despite core business progress
SCB X Public Company Limited (SCB) reported net profit of THB31.989 billion, down 14.3% year on year. Valuation losses on debt securities as bond yields rose weighed on the result. Third-quarter NII recovered to THB27.452 billion, up 0.5% from the previous quarter, with NIM at 3.07%.
Third-quarter fee and other income rose 6.2% year on year to THB11.498 billion, while nine-month growth was 12.8%, supported by wealth management. Nine-month operating expenses fell 3.6% to THB50.070 billion. Third-quarter ECL declined 23.7% year on year to THB8.250 billion.
TISCO profit rises 5.7% as lower deposit costs support interest income
TISCO Financial Group Public Company Limited (TISCO) earned net profit of THB5.30218 billion, up 5.7% year on year. Total operating income increased 4.4%, with NII rising 5.2% as deposit costs fell. Non-interest income from core businesses grew 2.7%.
In the third quarter, total income fell 2.3% as gains on financial instruments measured at fair value through profit or loss (FVTPL) declined, despite NII growth of 6.2%. Operating expenses rose 5.3% in the quarter, while ECL fell to 0.8% of average loans, consistent with well-controlled asset quality.
TTB profit rises 4.8% as non-interest income offsets lower NII
TMBThanachart Bank Public Company Limited (TTB) posted net profit of THB16.139 billion, up 4.8% year on year. NII declined 3.1% to THB37.179 billion, while non-interest income grew 25.7% to THB13.683 billion. The increase came from net fee and service income, gains on financial instruments, dividends and some income from the “You Fight, We Help” programme.
Nine-month operating expenses fell 3.1% to approximately THB23.744 billion, compared with THB24.530 billion a year earlier. ECL declined 5.8% to THB12.113 billion, the NPL ratio fell to 2.88%, and the coverage ratio rose to 159%. The bank continued to set aside additional provisions for risks arising from economic conditions and flooding.
Differing pressures shape profit performance
The nine-month figures show pressure on interest income at several banks, with the effect on profits varying according to their revenue and cost structures. BAY, KKP, CREDIT and LHFG benefited from non-interest income or loan growth.
KBANK and TTB used fee income and expense management to offset lower NII. BBL, KTB and SCB continued to face pressure from interest or investment income, although some improved their control of expenses and ECL.
