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Fitch ups view of four Thai banks
Fitch Ratings said it revised the outlooks to stable from negative for the four largest private Thai banks including Bangkok Bank plc, Siam Commercial Bank plc, Kasikornbank plc and Bank of Ayudhya plc. TMB Bank plc's international ratings continue to have a negative outlook.
The outlook change reflects the resilient performance of the four banks for the past nine months despite a significant decline in Thailand's GDP, Fitch said.
While Fitch said it believes the risk of a further increase in provisioning remains in the next six to 12 months due to time lags and a higher relapse on restructured and rescheduled loans, these banks' performance will remain resilient.
However, TMB Bank's performance remains poor due to weaker asset quality and significant loan contraction, the agency said.
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