People visit commercial bank booths at Money Expo 2022 held in December at Impact Muang Thongn Thani. (Photo: Nutthawat Wicheanbut)
Net profit for the banking industry grew 13% in the first quarter thanks to improving business operations, despite setting higher loan-loss provisions amid global economic risks.
The 10 SET-listed commercial banks and subsidiaries reported a combined net profit in the first quarter of 2023 of 60.3 billion baht, up 13.3% year-on-year.
The gain was supported by operational profit covering better income under cost control.
The industry set aside higher expected credit losses (ECLs) and paid more attention to risk management to handle upside risks in the global economy.
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