Muangthai Capital or MTC expects its business in the second half of 2026 to recover after the agricultural sector shows signs of improvement. The company targets loan portfolio and revenue growth of 8-10% in 2026 through its network of over 9,000 branches nationwide. Mr. Paritat Patcharai, Chief Executive Officer, said that higher prices of palm oil, rubber, and off-season rice have helped increase income and liquidity for farmer customers. Meanwhile, financial costs remain manageable, and the company maintains an NPL coverage ratio as high as 140% to absorb volatility, with NPL at 2.61%. Krungsri Securities research maintains a "Buy" recommendation and a 2027 target price of 44 baht, viewing asset quality as controllable and expecting net profit for 2026-27F to have upside potential from credit costs. The current share price trades at a PBV of 1.3-1.4 times, which is 1.75 standard deviations below the average.
Muangthai Capital Public Company LimitedAgricultural recovery (higher palm oil, rubber, off-season rice prices) boosts farmer income and liquidity, supporting MTC's loan portfolio and revenue growth of 8-10% in 2026.
