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 Outperform rating and raise our 12month forward fair value to Bt160.00 (from Bt157.00), based on a PBV of 1.07x (from 1.05x).</li><li>We expect SCB to report 2Q26E net profit of Bt11.0bn (-13.7% YoY, +8.2% QoQ).</li><li>If 2Q26E earnings come in as expected, 1H26E earnings would account for 50% of our full-year forecast.</li></ul>

We maintain our Outperform rating and raise our 12month forward fair value to Bt160.00 (from Bt157.00), based on a PBV of 1.07x (from 1.05x).We expect SCB to report 2Q26E net profit of Bt11.0bn (-13.7% YoY, +8.2% QoQ).If 2Q26E earnings come in as expected, 1H26E earnings would account for 50% of our full-year forecast.

SCB X Plc. (SCB): 2Q26E Earnings Expected To Increase QoQ But Decline YoY