The final quarter of 2026 has arrived, and the financial results for Thailand's commercial banks for the first nine months of 2026 have all been released. Thairath Money invites you to closely examine the financial statements of all 10 banks amid multiple challenges, including the downward trend in interest rates and an uneven economic recovery.
During the first nine months of 2026 (January to September), the bank with the highest operating income and net profit ranked number one. Kasikornbank (KBank) Reported total revenue of 146,886 million baht, a slight decrease of 0.04% year-on-year (YoY). However, net profit remained high at 40,635 million baht, growing 3.43% YoY.
Meanwhile, Bank of Ayudhya (BAY) Ranked second with total revenue of 126,862 million baht, up 7.7% YoY, and net profit of 25,572 million baht, growing 3.90%. It was the only bank among the top five to show positive growth in both revenue and net profit, supported by strong growth in large corporate loans and in ASEAN markets.
Third place was Bangkok Bank (BBL) With operating income of 121,810 million baht, down 11.56% YoY, and net profit of 29,981 million baht, down 21.60%. The decline stemmed from reduced net interest income after the bank cut rates to support economic recovery and ease customers’ financial burdens. The net interest margin (NIM) stood at 2.47%.
As for Siam Commercial Bank, which is the main business and revenue source contributing over 96.3%, SCB X Public Company Limited (SCBX) Ranked fourth, recently announced total revenue of 119,060 million baht, down 8.40% YoY, and net profit of 31,989 million baht, down 14.3% YoY. The main causes were declines in interest income, investment income, and trading income.
And finally, fifth place Krung Thai Bank (KTB) Had operating income of 114,081 million baht, down 7.20% YoY, and net profit of 37,145 million baht, a slight drop of 0.80% YoY. The decrease was due to a 13.0% drop in interest income, although non-interest income grew well from wealth management and money and capital market businesses.
If looking at which banks had the highest revenue and profit growth rates, it was the smaller-sized banks that posted higher rates. The highest operating income growth was from Thai Credit Bank (Credit) With 12,510.5 million baht, growing 14% YoY.
The bank with the strongest net profit growth among the 10 banks was Kiatnakin Phatra Bank (KKP) Reporting net profit of 6,466 million baht, soaring 56.10% YoY, supported by a 40.2% YoY increase in non-interest income from wealth management, fees, digital investment services through Dime!, and others, as well as reduced losses from repossessed car sales due to improved credit quality.
Looking into the details, the main reason bank revenues declined was because the Bank of Thailand lowered its policy interest rates, and many banks also cut their rates to assist specific customer groups.
One key figure reflecting how much profit banks earn from interest is the net interest margin (NIM). In the third quarter of 2026, several banks saw their NIM decrease compared to the same period last year, such as:
The bank with the highest NIM was Thai Credit Bank at 7.80%, up from 7.60% in Q3 2025. The financial statements attributed this improvement to a reduction in interest expense by 20.9 million baht.
Next was TISCO Financial Group Public Company Limited (TISCO) With a NIM of 5.00%, up from 4.84% in Q3 2025, driven by lower deposit costs. TISCO's NIM is higher than other banks because its loan portfolio mainly consists of retail loans, especially hire-purchase loans that typically have higher average interest rates than mortgages or other loans.
Additionally, banks with higher proportions of retail loans, especially hire-purchase loans, tend to have higher and rising NIMs, such as Kiatnakin Phatra Bank with a NIM of 4.6%, up from 4.50%. Thanachart Bank ( ttb) Reported a NIM of 3.09%, up from 2.97% in Q3 2025.
However, NIM is not the only reason for changes in bank revenues or net profits. Other factors include net interest income, loan loss provisions, and one-off items in prior financial statements that may impact current results.
Amid the K-shaped economic recovery, banks must pay close attention to the lower K group that may face problems and become non-performing loans (NPLs). As of 30 September 2026, how significant are the NPLs among major banks?
In banking financial statements, the term for non-performing loans may vary. For example, the Bank of Thailand uses "Stage 3" for loans overdue by 90 days or more. Some banks use terms like non-accrual loans. Bangkok Bank (BBL) defines NPLs as credit-impaired loans totaling 102,850 million baht at the end of Q3 2026, down 2.3% quarter-on-quarter (QoQ) but up 8.6% year-to-date (YTD), with an NPL ratio of 3.20%.
Kasikornbank refers to these as gross non-performing loans, totaling 92,640 million baht at the end of Q3 2026, up 2.07% YoY (NPL ratio: 3.18%). SCBX reports non-performing loans at 92,399 million baht, down 3.0% YoY (NPL ratio: 3.21%).
The NPL ratio, which is the ratio of non-performing loans to total loans, indicates the percentage of loans that have become impaired. Analysts closely monitor this figure to assess banks’ business health.
During economic downturns or prolonged shocks, NPLs tend to rise, serving as an economic warning sign.
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