BankThai's Q1 profits jump 49%
BankThai has announced a net profit of Bt301.7 million in the first quarter of the year, an increase of 49 per cent over the first quarter last year when it recorded a net profit of Bt202.2 million.
BankThai's president, Phirasilp Subhapholsiri, said the bank's covered asset pool (CAP), an agreement with the Finance Institutions Development Fund to manage bad assets, ended on December 31, 2005 and the CAP is currently under examination and assessment of its results for gain and loss sharing.However, BankThai has succeeded in collecting Bt59 billion of the Bt115 billion in bad loans under its management. It collected Bt7.6 billion more than originally antici pated. Meanwhile, Tisco Bank announced that it pocketed a net profit of Bt544 million in the first quarter, compared with a Bt517.1 million in the corresponding period last year.
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