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>We initiate our coverage on BBL with a Neutral rating and a 12M FV of Bt138.23, based on the earnings yield and a required rate of return of 16.7%.</li><li>The valuation metrics suggest that the current share price is fully valued, as the earnings growth has already peaked.</li><li>Earnings growth is projected at a 3.4% CAGR in 2024-26E.</li></ul>

We initiate our coverage on BBL with a Neutral rating and a 12M FV of Bt138.23, based on the earnings yield and a required rate of return of 16.7%.The valuation metrics suggest that the current share price is fully valued, as the earnings growth has already peaked.Earnings growth is projected at a 3.4% CAGR in 2024-26E.

Bangkok Bank

Bangkok Bank BBL Banking