Thailand’s second-largest lender Kasikornbank Pcl abandoned a key earnings target on concerns that the already weak economy may deteriorate further, denting loan demand and increasing defaults.
The commercial lender is unlikely to fulfill the pledge it made to investors to increase return on equity to at least 10% by the end of 2026, according to Chief Executive Officer Kattiya Indaravijaya. The bank is exercising “much more prudent” business practices as the local economy has to grapple with US tariffs, border dispute and political instability, she said in an interview in Bangkok on Monday.
Kattiya Indaravijaya
Photographer: Valeria Mongelli/Bloomberg
“Thai economic outlook is much …