Ten local commercial banks, including nine listed on the SET, reported consolidated net profit for the first nine months of 2023 of 177 billion baht, up 15.1% year-on-year, attributed to rising interest income as a result of policy rate hikes.
Bangkok Bank (BBL), the country’s largest lender by total assets, reported a net profit of 32.8 billion baht, up 50.8% year-on-year as a result of a 33% increase in net interest income (NII), in line with the rising interest rate trend, the bank said in a statement to the Stock Exchange of Thailand.
The Thai economy will continue to face challenges from global economic uncertainties as central banks maintain high interest rates to control inflation, while China’s economic…
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