Thailand’s Bank of Ayudhya books 11% Q3 profit rise
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Bank of Ayudhya PCL, Thailand’s fifth-largest lender, said on Friday its quarterly net profit rose 10.6 percent from a year earlier, boosted by higher net interest income as a result of strong loan growth from retail clients.
Bank of Ayudhya, controlled by Japan’s Mitsubishi UFJ Financial Group Inc, raised its 2016 loan target range to 8 per cent to 9 per cent, from 5 per cent to 6 per cent, after consolidating loans from Cambodia subsidiary Hattha Kaksekar, it said in a statement.
Questions & Answers
Q.What was the main reason for Bank of Ayudhya's increased net profit?
What was the main reason for Bank of Ayudhya's increased net profit?
The bank's net profit was boosted by higher net interest income. This resulted from strong loan growth originating from retail clients.
Q.Which company controls Bank of Ayudhya?
Which company controls Bank of Ayudhya?
Bank of Ayudhya is controlled by Japan’s Mitsubishi UFJ Financial Group Inc. It is Thailand's fifth-largest lender.
Q.How did the bank change its loan target for 2016?
How did the bank change its loan target for 2016?
The bank raised its 2016 loan target range to 8 to 9 percent. This was an increase from the previous target of 5 to 6 percent.
Q.What contributed to the change in the 2016 loan target?
What contributed to the change in the 2016 loan target?
The revised 2016 loan target was set after consolidating loans from its Cambodia subsidiary, Hattha Kaksekar.