Analysts at UOB Kay Hian Securities Thailand have raised their target price for KBANK shares to 285 baht from 260 baht, while maintaining a buy recommendation. The revision follows an upward adjustment of net profit forecasts for 2026 to 2028 by 3.5 percent, 2.7 percent, and 2.6 percent respectively, reflecting strong second-quarter 2026 results. Management reaffirmed a minimum dividend payout policy of 50 percent, and 50 to 60 percent over the medium term. The bank is expected to have room to increase the payout ratio or pay a special dividend in the future, given a share buyback program worth 3.48 billion baht out of a total budget of 8.8 billion baht, representing 40 percent of the budget, and a price-to-book ratio near 1.0 times. On the lending front, management indicated that loan growth in 2026 is likely to be at the upper end or slightly above target. In the second quarter of 2026, there was demand for working capital loans from large corporate clients. Although some loan repayments are expected in the second half, the bank remains confident of achieving its loan growth target and will focus on increasing the proportion of large corporate loans.
Kasikornbank Public Company LimitedUOB Kay Hian raises target price to 285 baht and maintains buy, citing higher profit forecasts and dividend potential.