Krung Thai Bank Pub

Thai Banks Screener; Krung Thai and Kasikorn Are Our Top Picks

Equity Bottom-Up
219 Views, 24 May 2022 00:12
EXECUTIVE SUMMARY
  • The six value oriented Thai banks all have healthy credit quality, NPL coverage and sound capital adequacy ratios; in addition, encouraging cost of risk trends support the earnings outlook
  • Of these, we believe Krung Thai Bank screens well, with its attractive pre-provision and post-provision profitability versus peers, whilst trading on relatively undemanding multiples; we also like Kasikorn Bank
  • We see TMBThanchart as an early stage “turn around” stock, especially if management can improve credit quality, and push down its cost of risk sustainably to lower levels
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Victor Galliano
Financials & FinTech, EM & Southern Europe
Galliano's Latin Notes
FinancialsEquity Bottom-UpThematic (Sector/Industry)

Victor Galliano is an experienced equity banks analyst, having covered Latin America banks and non-bank financials for o... 

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