Krungsri's 11% loan growth in FY16 the highest in the industry
Will robust growth continue in 2017?
Even though 4Q16 earnings fell short of analysts' expectations (-8%/-2% against Maybank Kim Eng's/consensus, mainly due to the slowdown in bad-debt recovery), Bank of Ayudhya (Krungsri)'s underlying toplines remained solid.
"In particular, loans continued to expand strongly by 3.2% QoQ, making BAY’s loan growth by far the highest in the industry for FY16 (+11% vs +2.5% industry average and SCB’s 5.8%. With the funding/technology support from BAY’s parent bank, Mitsubishi UFJ Financial Group, strong loan growth is likely to continue," says Maybank Kim Eng.