Thai banks surge on provision rules relaxation

Thai bank shares rose sharply in heavy volume on Jan. 25, 2001, on buying by local and foreign investors who decided a recent relaxation of rules over the accounting of loan loss provisions was good for the sector, analysts said.

The Bank of Thailand earlier this month decided to allow commercial banks to re-book, as revenue, monies previously set aside for bad loan provisions. Before this month, banks were only allowed to count as revenue part of the sum set aside.

"Banks in November 2000 cou

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