Bangkok Bank PCL's third-quarter net profit slid 57% compared with the same period a year earlier, largely due to a jump in operating expenses following its acquisition of Bank Permata in Indonesia.

The Thai lender posted net profit of 4.02 billion baht ($128.8 million), it said late Tuesday. Operating expenses rose 52% to THB19.43 billion as the bank took on Permata's operating expenses and booked provisions for expenses related to the integration of branches in Indonesia, it said.

Net interest income rose almost 11% to THB19.85 billion due to the consolidation of Bank Permata's income, while non-interest income fell 22% to THB9.57 billion.

Bangkok Bank noted that the Thai economy had improved in the quarter amid the easing of restrictions on movement to contain the Covid-19 pandemic. Going forward, it said the biggest risk factor to the economy will be second-wave outbreaks in many countries.

Write to Singapore editors at singaporeeditors@dowjones.com

(END) Dow Jones Newswires

10-21-20 0200ET