Krungsri Securities sees positive Q2 2026 earnings for listed firms after strong bank results, unveils 7 stocks with profit growth

EarningsAnalyst
โดย efinanceThai·Read original
Summary · why it matters

Krungsri Securities assesses the earnings direction of listed companies in the second quarter of 2026 as positive and likely to come in better than market expectations, supported by the banking sector's performance which was mostly in line to better than expected. Only BBL reported profit below market expectations but still in line with its own assessment. A key positive factor for the banking group is fee income from wealth management business, which is growing and becoming a new S-curve for the business. Meanwhile, asset quality remains manageable despite the impact of the war situation, with only SCB still vulnerable due to non-performing loan formation and BBL seeing mainly migration of existing debtors. Most banks' loans returned to expansion compared to the previous quarter, reflecting the positive effect of the investment cycle, with KBANK and KTB showing outstanding loan growth, while SCB remains the only bank with contracting loans. On the real sector side, stocks are starting to show positive signals, with SCGP reporting profit 21 percent above market expectations due to tight supply conditions in the Middle East, and PTTGC reporting profit above expectations from greater-than-expected supply disruption, similar to IVL and SCC. The research team views the decline in banking stocks after earnings announcements due to profit-taking as an opportunity to gradually accumulate, as fee income from wealth management is growing as a new support factor, asset quality has passed the peak risk point, and the impact from net interest margin has been largely priced in. Recommended top picks in the banking group are KBANK and KKP from wealth management growth, and KTB from strong asset quality. The team also unveils a list of standout stocks for the earnings season, expecting second-quarter 2026 results to be strong or to have passed the trough, including ADVANC, SCC, IVL, BH, KBANK, AOT, and ICHI.

Impact on stocks 13

Financials▲ · 3 stocks
Kasikornbank Public Company Limited
KBANK
▲ PositiveDemandrelevance

KBANK shows outstanding loan growth reflecting positive effect of investment cycle; also benefits from wealth management fee income growth.

Materials▲ · 2 stocks
Digital Finance & Tokenization▼ · 2 stocks
SCB X Public Company Limited
SCB
▼ NegativeDemandrelevance

SCB remains vulnerable due to non-performing loan formation and is the only bank with contracting loans.

Bangkok Bank PCL
BBL
± MixedCapitalrelevance

BBL reported profit below market expectations but in line with its own assessment; mentioned as an exception among banks.

Climate Adaptation & Water▲ · 1 stocks
Critical Materials & Supply Chain▲ · 1 stocks
Indorama Ventures PCL
IVL
▲ PositiveSupplyrelevance

PTTGC and IVL reported profit above expectations from greater-than-expected supply disruption; IVL similarly benefits.

Cloud & Digital Infrastructure▲ · 1 stocks
Industrials▲ · 1 stocks
Health Care▲ · 1 stocks
Consumer Staples▲ · 1 stocks
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