Muangthai Capital, or MTC, reported second-quarter 2026 net profit of 1.91 billion baht, up 4.5% from the previous quarter and 15.7% from a year earlier, beating the Bloomberg Consensus estimate of 1.83 billion baht. The result was supported by loan growth accelerating to 189 billion baht, up 2.5% from the prior quarter and 7.9% from a year earlier. Net interest margin recovered to 13.4% from 13.1% in the first quarter. First-half credit costs came in at 2.34%, below the full-year target of no more than 2.6%, creating a chance for full-year credit costs to come in below the guidance range and support second-half earnings. The company expects loan growth to accelerate in the second half on seasonal factors and some relaxation of approval criteria, targeting full-year loan growth of 8 to 10% from a year earlier while still emphasizing debtor quality. The latest NPL ratio stood at 2.61%, up slightly from 2.57% in the first quarter, but a coverage ratio of 142.6% remains a solid buffer against volatility. The average target price from IAA Consensus is 43.22 baht.
Muangthai Capital Public Company LimitedQ2 profit beat estimates, loan growth accelerated, NIM recovered, and credit costs below target.
