Bangkok--21 Jan--Siam Commercial Bank Siam Commercial Bank PCL posted impressive 2007 operating results (consolidated basis), showing preliminary net profit of 17,356 million baht, up 31% yoy from the previous year’s 13,286 million baht. Major driving elements behind the impressive 2007 results were continued growth in interest and dividend income (up 20.3%) and fee income (up 15.2%), as well as successful management in cutting NPLs to 6.1% from 7.9% the previous year. With a total net profit of 17,356 million Baht, 2007 marked the fifth year in a row that SCB recorded positive earnings with substantial profit, underscoring its consistent performance and strong potential for future growth. SCB President Khun Kanikar Chalitaporn said that the remarkable 2007 performance was driven by three major factors. According to Khun Kanikar, “The first factor was the growth of net interest and dividend income by 20.3%, partly due to total lending growth of 16.1% yoy. Of total loan growth, the SME loan portfolio soared by 38.5%, while corporate loan registered growth of 12.8%. Mortgage loan and hire purchase lending went up 6.9% and 43.7% respectively.” “The second factor was an increase in non-net interest income by 15.2% yoy from rising sales of products and services, a performance in line with the Bank’s operational strategy.” “The third factor was the reduction of gross NPLs down to 6.1% in 2007, reflecting our efficient approach in managing NPLs by keeping control of new NPLs and boosting the sell-off of existing NPLs, with successful sales of NPLs and NPAs worth over 10 billion Baht in the third and fourth quarters.” Chairman of the Executive Committee Dr. Vichit Suraphongchai also noted that, "in addition to the Bank's continued positive earnings success over the past five years, SCB had the largest market capitalization and became the third largest bank in Thailand in terms of asset size with the largest branch and ATM network in the country. These strong foundations developed through the years will assist SCB in progressing towards 2008 and beyond with continued success.” For more information please contact: Public Relations, Corporate Communications : (02) 544-4501-3