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Thai Banks Enjoy Strong Year in 2003.
Byline: Darana Chudasri
Apr. 6--Thai banks enjoyed a banner year in 2003, with many institutions posting sharp profit gains due to lower provisioning and funding costs, while revenues rose as loans picked up in line with economic growth.
Kasikornbank, one of the bellwether stocks of the banking sector, was no exception. The bank posted 2003 profits of 14.8 billion baht, up 121 percent from the previous year due to investment gains, cost-cutting and transfers from its asset management subsidiaries. The bank also made strides forward in its efforts to capture the lucrative consumer finance market, with rapid growth in its credit card and retail banking ...
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Source: HighBeam Research, Thai Banks Enjoy Strong Year in 2003.