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 our Neutral rating and 12-month forward FV of Bt2.54, based on a 9.6% required return.</li>
<li>2Q26 results were in line with our forecast, while asset quality continued to improve, reflected in lower credit costs and repossession losses, with repossessed vehicle inventory below Bt100mn.</li>
<li>THANI reported 2Q26 net profit of Bt360mn, up 29.0% YoY and 5.6% QoQ, broadly in line with our forecast.</li>
</ul>


We maintain our Neutral rating and 12-month forward FV of Bt2.54, based on a 9.6% required return.
2Q26 results were in line with our forecast, while asset quality continued to improve, reflected in lower credit costs and repossession losses, with repossessed vehicle inventory below Bt100mn.
THANI reported 2Q26 net profit of Bt360mn, up 29.0% YoY and 5.6% QoQ, broadly in line with our forecast.


RATCHTHANI LEASING Plc. (THANI): Asset Quality Continued to Improve

Ratchthani Leasing

RATCHTHANI LEASING Plc. (THANI): Asset Quality Continued to Improve