Siam Commercial Bank loans up 3.3% in 4Q13

Thanks to strong growth in these areas.

According to Maybank Kim Eng, Siam Commercial Bank's 4Q13 loans grew 3.3% QoQ, driven by strong growth in SME, housing and personal loans.

Here's more:

Net interest income was better than expected given solid loan growth of 12% with stable NIM of 3.18% in 2013. Non-interest income grew 24% YoY due to healthy net fee income and net trading income. Loan loss provisions jumped 45% YoY as the bank has a policy to book extra provisions from extra gains or income.

We expect SCB loan growth of 8% this year. NIM could drop 4bps to 3.14%, due to the recent interest rate cut, although the bank plans to reduce the deposit cost. We do not include gains on sales of Siam Commercial Samaggi Insurance, which we estimate the bank to book a THB1.6b gain in 2Q14.

This could provide upside to our earnings forecast of 3% in 2014. We prefer KBANK to SCB as we are cautious on credit quality deterioration on the retail loan segment, which is 45% of SCB’s loan books owing to elevated household debt levels.

Also Read

Malaysia's private sector credit grows 5.4% in April

Hong Kong mortgage loans drawdown rises by 9.9%

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia