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 maintain a Neutral rating, as the 4Q24 earnings growth (+16% YoY, +1% QoQ) was in line with our expectations, supported by lower provisioning and a rebound in loan growth QoQ.</li><li>From a fundamental perspective, the recommendation remains buy.</li><li>The fair value (FV) remains unchanged at Bt20.10, based on a required return of 8.0%, representing upside of approximately +15% from the market price. </li></ul>

We maintain a Neutral rating, as the 4Q24 earnings growth (+16% YoY, +1% QoQ) was in line with our expectations, supported by lower provisioning and a rebound in loan growth QoQ.From a fundamental perspective, the recommendation remains buy.The fair value (FV) remains unchanged at Bt20.10, based on a required return of 8.0%, representing upside of approximately +15% from the market price. 

NGERN TID LOR - In-Line 4Q24 Earnings; Better Asset Quality

Ngern Tid Lor

NGERN TID LOR - In-Line 4Q24 Earnings; Better Asset Quality