By P.R. Venkat

Siam Commercial Bank PCL's second-quarter net profit fell nearly 24% from a year earlier as the lender booked higher provisions to weather the impact of Covid-19 on businesses of its various customers.

Net profit for the quarter ended June was 8.36 billion baht ($263 million), the bank late Monday. The lender made a provision of THB9.7 billion in the second quarter.

Siam Commercial Bank's net interest income was down 7% to THB23.8 billion as it suffered from the low interest-rate environment following multiple rate cuts by the country' central bank.

"Although economic activity has begun to recover, the long-term impact of this pandemic on the business sector still remains highly uncertain," Siam Commercial Chief Executive Arthid Nanthawithaya said.

Write to P.R. Venkat at venkat.pr@wsj.com