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>The finance stocks under our coverage reported a combined net profit of Bt4.27bn in 1Q24, growing 4.7% YoY and 11.2% QoQ.</li><li>We expect the operating performances for the remainder of 2024E to continue improving, thanks to a decrease in provisions resulting from effective asset quality control.</li><li>We maintain our Overweight rating for auto title loan providers, and a Neutral rating for truck hire purchase loan operators.</li></ul>

The finance stocks under our coverage reported a combined net profit of Bt4.27bn in 1Q24, growing 4.7% YoY and 11.2% QoQ.We expect the operating performances for the remainder of 2024E to continue improving, thanks to a decrease in provisions resulting from effective asset quality control.We maintain our Overweight rating for auto title loan providers, and a Neutral rating for truck hire purchase loan operators.

Road to Recovery During the Remainder of the Year

TIDLOR

Road to Recovery During the Remainder of the Year