Krungsri Securities Public Company Limited stated that its research team has selected KTC as its Top Pick in the Consumer Finance group, expecting it to report 3Q26F net profit of 2,160 million baht, up 11% y-y, on net interest income of an expected 3,708 million baht, up 1% y-y and 1% q-q, supported by a NIM of 13.9% and expected ECL provisions of 1,334 million baht, down 8% y-y. Although profit is expected to fall 3% q-q on operating expenses of an expected 2,520 million baht, up 7% q-q due to the first quarter of system upgrade expense recognition, total loans declined 1% q-q, or 3.9% YTD, and the NPL Ratio stood at 1.90%, up from 1.86% in 2Q26. Non-interest income is expected at 2,859 million baht, up 2% y-y and 2% q-q. The research team maintains its BUY recommendation and keeps its 2027F target price at 54 baht, along with keeping KTC as its Top Pick in the Consumer Finance group, citing balance sheet strength, especially a high Coverage Ratio of around 420%, attractive dividends with an expected dividend yield of 5-6%, 2026F net profit expected to set a new high following 2025, and new businesses in debt collection and insurance sales that are expected to drive future revenue.
Krungthai Card PCLKrungsri Securities names KTC Top Pick in Consumer Finance, maintains BUY and 54 baht target price on expected 3Q26F profit growth of 11% y-y
Bank of Ayudhya PCL