Siam Commercial Bank still stays in healthy financial status in 3rd quarter 2009

BANGKOK, 26 October 2009 (NNT) – The Bank of Thailand (BoT) says that Siam Commercial Bank’s turnover in the 3rd quarter 2009 goes against the global economic slump due to the overrated reserves on non performing loans (NPL).

Assistant Governor of the Financial Institutions Policy Group, Bank of Thailand Krirk Vanikkul said that Siam Commercial Bank reported the revenue of 24,987 million baht in the 3rd quarter statement or an increase of 5.63% in revenue, compared with the recent year.

He also said that Siam Commercial Bank was still in a healthy financial status in the 3rd quarter 2009 as a result of 85% overrated reserves on non performing loan following the rule of multinational accounting (IAS39) from the last 3 years, causing Siam Commercial Bank to be in secure position in this year.

Mr Krirk added that all BoT had to do now was to keep watch on NPL while letting Siam Commercial Bank to make loan leasing on its own ways.