Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Equity Bottom-Up

<ul><li>The 3Q24E performance of the two small banks under coverage remains under pressure due to sluggish loan growth, in line with the downturn in the automotive industry.</li><li>Net profit is expected to be Bt2,612mn, down 17% YoY but up 4% QoQ.</li><li>TISCO stands out, benefiting from the policy interest rate cut, with an upside of around 15% from the current price.</li></ul>

The 3Q24E performance of the two small banks under coverage remains under pressure due to sluggish loan growth, in line with the downturn in the automotive industry.Net profit is expected to be Bt2,612mn, down 17% YoY but up 4% QoQ.TISCO stands out, benefiting from the policy interest rate cut, with an upside of around 15% from the current price.

3Q24E Earnings of Small Banks Likely to Contract YoY But Recover QoQ

TISCO Financial Group

3Q24E Earnings of Small Banks Likely to Contract YoY But Recover QoQ