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Thailand's big banks post a profit dip despite a rising economy

Companies cautious of returning despite economic pick up

  © Reuters

BANGKOK The combined net profit for Thailand's four biggest banks dropped 14% on the year for the July-September period. This marks the second consecutive quarter of declining earnings, despite recent government statistics that have shown promising signs about the country's economic recovery.

Bangkok Bank, Krung Thai Bank, Siam Commercial Bank and Kasikornbank, the four largest lenders by assets, posted an aggregate net profit of 33.6 billion baht ($1.01 billion) for the third quarter, according to stock exchange filings released on Oct. 19 and 20.

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