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Awards for Excellence 2009: Thailand

Best Bank: Siam Commercial Bank

Siam Commercial Bank retains the award for best bank in Thailand after another strong year of growth that saw it post a net profit for 2008 of Bt21.4 billion ($626.2 million), a record for the bank and the best among its peers. Return on assets and return on equity both grew year on year, to 1.8% and 18% respectively, and the bank now has the highest market capitalization among Thai commercial banks. Although some analysts suggest that the bank could be doing more to grow its loan base, with its performance in that field among the middle of the pack in the first quarter of 2009, they praise the bank for its strong retail presence and reduction of its ratio of non-performing loans.