Thailand’s fourth largest lender, Kasikorn Bank Plc (KBANK), net profit dropped 23 percent from a year ago in the fourth, meeting analysts’ expectations, as higher operating expenses outweigh loan income.

The bank’s profit in October through December was 2.79 billion baht, down from 3.63 billion baht a year ago, hurt by the global financial crisis, lower net interest margins, and slower loan growth in 2009.