Thai banks are growing strongly as the country recovers from devastating floods in 2011, with the sector as a whole posting a 14% year-on-year increase in second-quarter profits, according to Nomura analyst James Moss.
Moss, who had actually predicted even higher growth (17%), is negative on the retail segment, “where growth is slowing and NPL formation rising”, and positive on the corporate and SME sector, where lending is accelerating for the first time since the 2011 floods.
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