Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

<ul>
<li>Maintain BUY for BBL with a target price of Bt159. withstand uncertainty, sustainable profit growth, potential benefits from an upcycle of interest rates, and undemanding valuation. BBL’s 2Q22 net profit</li>
<li>2Q22 results BBL reported a net profit of Bt7.0bn in 2Q22, up 10% YoY           (-2% QoQ), which was 6% lower than expected on higher provisions. The YoY rise was supported</li>
<li>Lending growth in 2Q22 increased by 2.5% QoQ due to large corporate loans and loans made through the international network.The NPL ratio slightly increased to 3.4% and the coverage ratio </li>
</ul>


Maintain BUY for BBL with a target price of Bt159. withstand uncertainty, sustainable profit growth, potential benefits from an upcycle of interest rates, and undemanding valuation. BBL’s 2Q22 net profit
2Q22 results BBL reported a net profit of Bt7.0bn in 2Q22, up 10% YoY           (-2% QoQ), which was 6% lower than expected on higher provisions. The YoY rise was supported
Lending growth in 2Q22 increased by 2.5% QoQ due to large corporate loans and loans made through the international network.The NPL ratio slightly increased to 3.4% and the coverage ratio 


Bangkok Bank Public

BBL : Sustaining Growth Amid Uncertainty