SCB named Bank of the Year 2017

BANGKOK, April 10 (TNA) -- Siam Commercial Bank or SCB was named by Thailand's Money and Banking magazine as Bank of the Year 2017. Money and Banking magazine, April issue, has reported the ranking of the Best Bank of the Year 2017 by comparing the company highlights of 14 commercial banks in the country in 2016 starting from January 1 to December 31, 2016. SCB came in the first place and was named Bank of the Year 2017, where the bank was able to reel in a net profit as high as 47.61 billion baht from increasing net interest and net fees, while the NPL loan has been lowered to 2.67 per cent. The second place went to Kasikornbank or KBank which generated a net profit of 40.17 billion baht , followed by Bangkok Bank in the third place generating a net profit of 31.815 billion baht, which also remained to be the bank with the highest value of assets at 2.944 trillion baht. Two banks stole the 4th place, including Krung Thai Bank or KTB and Kiatnakin Bank, while the sixth place went to Tisco, followed Thanachart Bank at number 7, Bank of Ayudhya (Krungsri) at number 8, Land and House Bank in the ninth place, whereas Thai Military Bank or TMB and ICBC (Thai) Bank took the 10th place. UoB came in the 12th place, Thai Credit Bank at 13th, and the last is CIMB (Thai). All 14 commercial banks have a generated a total profit of over 199 billion baht in 2016. (TNA)