Siam Commercial Bank's profit edged up 1% to THB12.7b

Loan also grew 1.7%.

According to Maybank Kim Eng, SCB posted 3Q13 net profit at THB12.7b, up 1% QoQ and 26% YoY, in line with market and estimate.

PPOP beat the estimate, but SCB took this opportunity to set aside extra provision by THB1.5b on top of normal.

Here's more from Maybank Kim Eng:

Loan expanded 1.7% QoQ (+8.5% Ytd), while NIM expanded 12bps QoQ to 3.23%. Net-interest-income then rose 5% QoQ and 16% YoY. Fee income soared 9% QoQ and 26% YoY, thanks to CPALL-MAKRO deal.

Non-NII expanded 13% QoQ and 35% YoY, driven by dividend income. Opex was well controlled, with low 38% cost-toincome ratio.

PPOP grew 7% QoQ and 30% YoY (beating our estimate). Credit cost increased due to extra provision (Counter-Cyclical). For asset quality, NPLs stayed low at 2.0% with rising coverage ratio to 157%.

Also Read

OCBC Ignite aims to double poly graduate intake

Singapore’s big banks aim for 96% emissions cut by 2050

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