[Update-1] KBANK, SCB report third-quarter earnings

Leading commercial bank Kasikornbank (KBANK) and Siam Commercial Bank (SCB) on Thursday announced their financial results for the third quarter of 2021.

Kasikornbank (KBANK)

Kasikorn saw net profits of 8.62 billion baht in the third quarter of 2021, down 2.96 per cent from the previous quarter, as the bank set higher credit-loss provisions due to uncertainties from the Covid-19 outbreak.

Year-on-year, KBANK’s third-quarter earnings rose by 29 per cent.

For the first nine months of 2021, KBANK booked profits of 28.15 billion baht, up 73.5 percent from low base levels a year earlier. 

The bank’s non-performing loan (NPL) ratio stood at 3.85 per cent as of September 30.

As of Thursday midday, KBANK shares traded at 143 baht, up 0.35 per cent from its prior closing. 

Siam Commercial Bank (SCB)

SCB reported net profits of 8.8 billion baht for the third quarter, the same level of the previous quarter but a 90-per-cent increase from a year earlier, owing to lower credit-loss provisions and low base levels in 2020. 

SCB’s net profits for the first nine months of 2021 were 27.7 billion baht, up 24.6 per cent year-on-year.

The bank’s non-performing loan (NPL) stood at 3.89 per cent as of September 30.

By midday SCB’s share price was 125.50 baht, equal to its prior closing.

Besides KBANK and SCB, Bangkok Bank (BBL) was also expected to announce its third-quarter earnings later on Thursday.

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