Krungthai Card, or KTC, reported second-quarter 2026 net profit of a record 2.2 billion baht, up 17.4% year on year and 2.5% from the previous quarter, driven by fee income growth, cost control and lower provisions. Its net interest margin rose to 13.31% after funding costs fell to 2.62%, bringing first-half profit to about 4.4 billion baht, with a credit cost of 5.0% and a cost-to-income ratio of just 34.8%. The second-half outlook remains positive on both margin and fee income, but expenses are expected to rise with the new IT system, as amortization of the Core System begins to be recognized gradually from July. The company expects its full-year cost-to-income ratio at around 36%, plus or minus, compared with 34.8% in the first half. Asia Plus Securities raised its 2026 profit forecast by 5% to 8.48 billion baht, up 12.2% from a year earlier, and maintained its Buy rating with a target price of 50.00 baht, viewing the insurance brokerage business as a new S-curve that has yet to generate its full revenue. It expects a digital license in the fourth quarter of 2026 and a dividend yield of about 4.8% a year.
Krungthai Card PCLKTC posted a record 2Q26 net profit of 2.2 billion baht, up 17.4% YoY, on fee income growth, cost control and lower provisions.
Asia Plus Group Holdings PCLAsia Plus Securities raised its 2026 profit forecast for KTC by 5% and maintained a Buy rating with a 50 baht target price.
