Krungthai Card, or KTC, reported a record second-quarter 2026 net profit of 2.2 billion baht, up 17.4% year on year and 2.5% quarter on quarter, driven by fee income growth, operating expense control and lower provisions. Its net interest margin rose to 13.31% as funding costs fell to 2.62%. First-half net profit came to about 4.4 billion baht, or 4.41 billion baht, up 19.6% year on year and equal to 52% of the full-year estimate. Management is maintaining its 2026 growth targets, emphasizing quality over loan expansion. First-half credit card spending rose 4.7%, close to the full-year target of 5%, while personal loans grew 3%, in line with the target, and the non-performing loan ratio stood at just 1.86%, below the 2% target, with the coverage ratio at 426.3%. For the second half, the company expects the full-year cost-to-income ratio at around 36%, plus or minus, from 34.8% in the first half, as it begins amortizing a new IT system from July. Analysts raised their 2026 profit forecast by 5% to 8.48 billion baht, up 12.2% year on year, on the assumption of lower provisions, and kept a Buy rating with a target price of 50.00 baht. They see the insurance brokerage business as a key new growth path, with KTC expecting to receive a digital license in the fourth quarter of 2026 to expand insurance sales through digital channels and cross-sell to its existing customer base. The dividend yield is expected at around 4.8% a year.
Krungthai Card PCLKTC reported a record 2Q26 net profit of 2.2 billion baht, up 17.4% YoY, with analysts raising 2026 profit forecasts and keeping a Buy rating with a 50 baht target.
