Bank of Ayudhya and Krung Thai Bank have bucked a trend among their commercial peers by announcing a rise in net profits in the third quarter this year. Other major banks have recorded year-on-year falls.

Bank of Ayudhya announced yesterday that its net profit in the third quarter was Bt1.87 billion, or Bt0.65 per share, up 15.52 per cent from Bt1.62 billion, or Bt0.56 per share, on the corresponding quarter last year.

The result makes its nine-month net profit Bt5.37 billion, compared to Bt4.62 billion in the corresponding period last year.

"The improvement for this quarter was mainly due to an increase of Bt472 million, or 11 per cent, in net interest and dividend income, and a rise of Bt551 million, or 45 per cent, in non-interest income," the bank said.

It said its gains on investment have increased strongly this year, mainly due to the proceeds of non-bank business investments. Also, its fee-based income and gains on foreign exchange have risen by Bt169 million and Bt48 million, or 18 per cent and 38 per cent, respectively. Non-interest expenses have increased by Bt248 million, or 8 per cent, as a result of business growth.

Krung Thai Bank's net profit rose 9.95 per cent to Bt5.08 billion, while its nine-month net profit rose 11.55 per cent to Bt13.65 billion.

President Apisak Tantivora-wong said the higher profit was due to higher net interest margins as well as rising income from fees.

Earlier, Siam Commercial Bank announced a 30.1-per-cent fall in net profit in the third quarter, from Bt5.27 billion, or Bt2.99 per share, in last year's third quarter to Bt3.69 billion, or Bt1.95 per share.

The bank's third-quarter net profit also fell by 11.6 per cent from the second quarter. Therefore, its net profit for the first nine months fell by 16.57 per cent to Bt12.08 billion, compared to Bt14.48 billion in the corresponding period last year,.

SCB said the fall was due mainly to a one-time adjustment amounting to Bt714 million in the value of loans sold to the Thai Asset Management Corporation. The value of machinery collateral was revised down.

During the quarter, SCB's non-performing loans declined from the second quarter by Bt1.35 billion, or 8.9 per cent, to Bt58.43 billion, following debt restructuring and write-offs.

Kasikornbank's net profit for the third quarter also fell by 14.03 per cent to Bt3.08 billion, or Bt1.29 per share, from last year's third-quarter figures of Bt3.58 billion or Bt1.51 per share. Its nine-month net profit is Bt10.24 billion, down from last year's Bt11.27 billion in the corresponding period.

Siam City Bank's third-quarter net profit rose 2.63 per cent to Bt1.35 billion, or Bt0.64 per share, from Bt1.32 billion, or Bt0.62 per share, in last year's third quarter.

However, its net profit for the first nine months fell to Bt3.36 billion, from Bt4.58 billion in the corresponding months last year.

BankThai's net profit for the third quarter increased 65 per cent year on year to Bt384

million. It also reserved an additional provision of Bt69 million in the third quarter. Bangkok Bank reported the net profit of Bt4.23 billion in the third quarter. In nine months, the net profit was Bt13.80 billion.