Thai banks' 2Q13F earnings predicted to jump 12% to Bt56.9b

Most banks expected to post record highs.

Maybank Kim Eng forecasts aggregate 2Q13F earnings for Thai banks at Bt56.9bn, up 12% QoQ and 29% YoY. Most banks (except TMB) are likely to post new quarterly record highs. 

Maybank also said that BBL will be the bank with earnings growth lacking peers. Loan growth still carries momentum, while the non-NII will be key driver for strong growth (partly due to extra gains).

"Opex is still well under control. A key risk factor will be asset quality as the economy shows signs of a slowdown. However, bank management are still confident that asset quality remains under control. Credit costs are expected to be at the normal level (except extra provisioning for TCAP)," Maybank Kim Eng said.