Bangkok Bank net profits go beyond Bt9 bn in third quarter

[PeteC]

I highlight the word below because we've talked about it before and people, including myself, have been frustrated by the practice when going into a bank to conduct any kind of business. As you can see it can be extremely profitable for a bank, so expect it to continue and the pressure by bank staff to increase.

In my opinion it's a sad state of affairs when any bank puts that first on their list as a reason for increased profits.

"Bancassurance is a relationship between a bank and an insurance company that is aimed at offering insurance products or insurance benefits to the bank's customers. In this partnership, bank staff and tellers become the point of sale and point of contact for the customer."
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Bangkok Bank and its subsidiaries posted net profits worth Bt9.438 billion for the third quarter of this year, marking a 4.5 per cent increase from the same period last year.

The earnings were mainly from a 9.6-per-cent rise in net fees and service income, driven by higher fees from Bancassurance and mutual funds in line with the bank’s strategic intent.

Net income from interest dropped slightly by 1.7 per cent due to a contraction in loans, while the net interest margin stood at 2.35 per cent.

The bank has continued to focus on prudent control over credit underwriting and risk-management to ensure loan quality and maintain appropriate allowance for doubtful accounts.

https://www.nationthailand.com/business/30377538