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

Thematic (Sector/Industry)

Thailand Banks / Thematic (Sector/Industry)

<ul><li>Although we expect the banking sector's 2Q26E earnings to decline due to pressure on net interest margins (NIM) and seasonal factors, we anticipate a gradual recovery in 2H26E.</li><li>We therefore maintain our <strong>Overweight</strong> stance on the banking sector.</li><li>KBANK remains our top sector pick, with an <strong>Outperform</strong> rating and a target price of Bt237.00.</li></ul>

Although we expect the banking sector's 2Q26E earnings to decline due to pressure on net interest margins (NIM) and seasonal factors, we anticipate a gradual recovery in 2H26E.We therefore maintain our Overweight stance on the banking sector.KBANK remains our top sector pick, with an Outperform rating and a target price of Bt237.00.

Banking: 2H26E Fundamentals to Improve, but Short-Term Valuations Appear Stretched - Overweight