BAY remains in profit despite further CDO loss

By The Nation

Bank of Ayudhya swung back to profitability in the second quarter, with the net profit of Bt2 billion compared to the net loss of Bt8.96 billion in the same period last year.

In the statement to the Stock Exchange, the bank also said its first-half operations also returned to the positive area, with a net profit of Bt3 billion compared to the net loss of Bt7.8 billion.

Its six-month profits before loan-loss provisions and the price adjustment of held collateralised debt obligation (CDOs) was Bt7.2 billion. The bank said that during January and June, the value of CDOs in its possession dropped and created additional loss of Bt862 million.

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BAY remains in profit despite further CDO loss

Bank of Ayudhya swung back to profitability in the second quarter, with the net profit of Bt2 billion compared to the net loss of Bt8.96 billion in the same period last year.

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