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BAY aiming for 10% profit growth: Loan expansion will help offset tax bite.

Bangkok Post (Bangkok, Thailand)

| February 06, 2006 | COPYRIGHT 2006 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Umesh Pandey

Feb. 6--CHIANG RAI -- Bank of Ayudhya Plc expects its net profits for this year to grow by at least 10 percent, based on an expected 8 percent expansion in loans in line with the country's continued economic growth.

"For this year our expectations are that our net profits will show a growth of more than 10 percent, despite the fact that the bank will have to pay taxes on its profits starting this year," said president Pongpinit Tejagupta.

BAY, Thailand's sixth largest bank in terms of loans and fifth in terms of deposits, expects profitability growth to come from continued expansion of its loan book and increases in ...

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