Krung Thai Bank posts over 30% drop in 2017 profit

Bangkok

KRUNG Thai Bank Pcl, Thailand's fourth largest lender by assets, posted a more than 30 per cent drop in 2017 profit and missed analysts' expectations, hurt by higher provisions for impairment.

Profit in 2017 dropped 30.5 per cent from the previous financial year to 22.45 billion baht (S$929.6 million). This compared with expectations of 25.5 billion baht in a Thomson Reuters poll of 23 analysts.