Company Coverage
Krung Thai Bank (KTB TB) 2Q26: Results Beat; Provision Expenses Down yoy And qoq
BUY (Maintained)
Current price:
Target price:
Upside:
Previous TP :
Bt42.50
Bt52.00
+22.4%
Bt44.00
Analyst
Highlights
- KTB reported a net profit of Bt12.1b in 2Q26, up 9% yoy but down 3% qoq.
- Loan portfolio grew yoy and qoq in 2Q26.
Maintain BUY with a higher target price of Bt52.00 (previously: Bt44.00).
Analysis- 2Q26 results beat. Krung Thai Bank (KTB) reported a 2Q26 net profit of Bt12.1b, up 9% yoy but down 3% qoq. The results beat our and consensus forecasts by 8%. KTB’s pre-provision operating profit decreased 1% yoy and 5% qoq in 2Q26.
- Loan portfolio grew yoy and qoq in 2Q26. KTB reported outstanding loans of around Bt2.83t in 2Q26, up 5% yoy and 1.2 qoq, driven by the retail, corporate and government sectors. In 1H26, the loan portfolio grew 3.6%, higher than loan growth target of 0-2% in 2026.
- NII weakened yoy and qoq. KTB reported a net interest income (NII) of
Bt23.3b in 2Q26 (-14% yoy, -1% qoq). Meanwhile, NIM contracted from 2.48%
in 1Q26 to 2.45% in 2Q26, pressured by the lower lending rate environment.
Highlights
- KTB reported a net profit of Bt12.1b in 2Q26, up 9% yoy but down 3% qoq.
- Loan portfolio grew yoy and qoq in 2Q26.
Maintain BUY with a higher target price of Bt52.00 (previously: Bt44.00).
Analysis- 2Q26 results beat. Krung Thai Bank (KTB) reported a 2Q26 net profit of Bt12.1b, up 9% yoy but down 3% qoq. The results beat our and consensus forecasts by 8%. KTB’s pre-provision operating profit decreased 1% yoy and 5% qoq in 2Q26.
- Loan portfolio grew yoy and qoq in 2Q26. KTB reported outstanding loans of around Bt2.83t in 2Q26, up 5% yoy and 1.2 qoq, driven by the retail, corporate and government sectors. In 1H26, the loan portfolio grew 3.6%, higher than loan growth target of 0-2% in 2026.
- NII weakened yoy and qoq. KTB reported a net interest income (NII) of
Bt23.3b in 2Q26 (-14% yoy, -1% qoq). Meanwhile, NIM contracted from 2.48%
in 1Q26 to 2.45% in 2Q26, pressured by the lower lending rate environment.
BUY (Maintained)
Current price:
Target price:
Upside:
Previous TP :
Bt42.50
Bt52.00
+22.4%
Bt44.00
Analyst
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