THE banking industry’s first-quarter profits were hit by the subdued recovery of the Thai economy and substantial loan-loss provisioning, with combined net earnings in the first three months down 11.6 per cent to Bt35.82 billion year on year.

Digital business in CLMV countries (Cambodia, Laos, Myanmar and Vietnam) offer opportunities for this country’s banking industry, said Thai Bankers’ Association (TBA) chairman Boontuck Wungcharoen.