Thai Farmers Bank profit nose-dives

22 April 1998

Thai Farmers Bank profit nose-dives

THAI Farmers Bank said its net profit in the first quarter dropped 95% to Bt1332 million ($3.4m)

The bank gave no explanation for the decline, but analysts said the poor performance probably had a lot to do with the banks strategy. Many Thai banks are facing financial ruin after proceeding down the path of making high provisions for non-performing loans.

• Financial Times 22/04/98 page 38