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KTB's net profit fall 87%

State-owned Krung Thai Bank said Friday its second quarter net profit plunged 87 per cent from a year earlier due mainly to substantially higher loan loss provisioning.

The bank reported a net profit for the second quarter of Bt527.9 million, down from Bt4.02 billion a year earlier.

The bank set aside Bt6.90 billion in additional loan loss reserves in the second quarter, up from Bt1.91 billion in the second quarter of last year, to comply with new international accounting standards.- The Nation

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KTB's net profit fall 87%

State-owned Krung Thai Bank said Friday its second quarter net profit plunged 87 per cent from a year earlier due mainly to substantially higher loan loss provisioning.

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