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>TIDLOR’s 3Q25E net profit is estimated at Bt1.29bn (+30% YoY, flat QoQ), with results expected to be announced on November 11, 2025.</li><li>The YoY growth is driven by improved asset quality from prudent lending and effective debt collection, likely leading to a 31% YoY drop in provisions and a continued decline in NPLs to 1.76% (–12bps YoY, –2bps QoQ).</li><li>We raise our 2025–27E profit forecasts by 8%, 4%, and 1%, respectively, reflecting lower provisions from better-than-expected asset quality, while trimming loan growth assumptions to account for continued prudent lending.</li></ul>

TIDLOR’s 3Q25E net profit is estimated at Bt1.29bn (+30% YoY, flat QoQ), with results expected to be announced on November 11, 2025.The YoY growth is driven by improved asset quality from prudent lending and effective debt collection, likely leading to a 31% YoY drop in provisions and a continued decline in NPLs to 1.76% (–12bps YoY, –2bps QoQ).We raise our 2025–27E profit forecasts by 8%, 4%, and 1%, respectively, reflecting lower provisions from better-than-expected asset quality, while trimming loan growth assumptions to account for continued prudent lending.

TIDLOR HOLDINGS Plc. TIDLOR: Solid Asset Quality Control To Support 3Q25E Profit

Ngern Tid Lor

TIDLOR HOLDINGS Plc. TIDLOR: Solid Asset Quality Control To Support 3Q25E Profit