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>KTC reported 3Q25 net profit of Bt1.95bn, up 2% YoY and 3% QoQ, broadly in line with our and market expectations.</li><li>Overall asset quality remained well under control, with Stage 2 loans and Stage 3 (NPLs) stable at 11% and 1.85%, respectively, while the coverage ratio improved to 426%.</li><li>Regarding the insurance brokerage business, the company has obtained its operating license and is in the preparation stage, with a soft launch expected by the end of the year.</li></ul>

KTC reported 3Q25 net profit of Bt1.95bn, up 2% YoY and 3% QoQ, broadly in line with our and market expectations.Overall asset quality remained well under control, with Stage 2 loans and Stage 3 (NPLs) stable at 11% and 1.85%, respectively, while the coverage ratio improved to 426%.Regarding the insurance brokerage business, the company has obtained its operating license and is in the preparation stage, with a soft launch expected by the end of the year.

Krungthai Card Plc. (KTC): Earnings In Line With Expectations; Asset Quality Remains Solid.