Reuters: Hot Stocks: STOCKS NEWS THAILAND-Citigroup favours big banks

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STOCKS NEWS THAILAND-Citigroup favours big banks Jun 25th 2012, 05:09 Mon Jun 25, 2012 1:09am EDT Thailand's robust loan growth in May comes at a time when pressure was building up on funding and liquid assets were on the decline, positioning big banks better, Citigroup said. Citi Investment Research & Analysis, a division of Citigroup Global Markets Inc, kept its 'buy' rating on Kasikornbank Pcl and Bank of Ayudhya Pcl, while rating TISCO Financial Group Pcl as a 'sell', it said in a report dated June 22. "Competition on deposits may cap the net interest margin expansion despite robust lending growth. Small banks usually fare worse in this environment," it said. Loans for major banks in May grew 1.2 percent month on month and 14.6 percent year on year, led by retail and SME loans, while funding growth was down 0.3 percent month on month. 1126 (0426 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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