Bank profits up 3.97% in H1
According to financial statements submitted to the Stock Exchange of Thailand (SET), 11 SET-listed banks and their subsidiaries posted a combined net profit of 134.5 billion baht for the first half of 2025, marking a year-on-year increase of 3.97%.
Among the six domestic systemically important banks (D-SIBs), only SCB X -- the holding company of Siam Commercial Bank (SCB) -- and Bangkok Bank (BBL) recorded net profit growth.
SCB X reported the highest net profit growth in the sector, rising 18.7% year-on-year to 25.2 billion baht. BBL followed with a net profit of 24.4 billion baht, up 9.5%.
The remaining four D-SIBs -- Krungthai Bank (KTB), Kasikornbank (KBank), Krungsri (Bank of Ayudhya), and TMBThanachart Bank (ttb) -- posted either flat or declining net profits.
KBank reported the highest net profit among all banks at 26.2 billion baht, but this figure represented a 0.98% decline from the same period last year.
The marginal increase in the sector's overall net profit was primarily driven by non-interest income and effective cost control measures.
However, the overall industry saw a decline in net interest income (NII), reflecting the downward trend in interest rates and weak loan demand in line with Thailand's economic conditions. The six D-SIBs reported a combined NII of 327 billion baht for the first half of 2025, down 6.57% year-on-year.
As of June 2025, the banks reported total outstanding loans of 13.2 trillion baht, a 0.97% decrease from the end of 2024. Five of the six D-SIBs recorded loan contractions. Only BBL, Thailand's largest lender by total assets, reported marginal loan growth of 0.73%.
Kanjana Chockpisansin, head of banking and financial sector research at K-Research, noted that the banking industry is expected to continue facing challenges in the second half of the year due to both domestic and external pressures.
Ongoing global uncertainties, particularly stemming from the impact of US tariffs on Thai exports, are expected to weigh on Thailand's economic growth and loan expansion in the second half of the year. Additionally, the declining interest rate environment is likely to continue pressuring the sector's NII.
K-Research projects that total loan growth for the banking sector will contract by 0.6% in 2025, in line with a weakening economic outlook in the second half of the year. The centre forecasts Thai GDP growth of just 1.4% for this year.
Arthid Nanthawithaya, chief executive of SCB X, said in the financial statement to the SET that despite persistent macroeconomic uncertainties and the prolonged household debt issue, SCB X remains committed to supporting all borrowers through various ongoing assistance measures, including its "You Fight, We Help" debt relief programme.
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