Thai Credit Bank Public Company Limited provides financial services to micro, small, and medium-sized enterprises in Thailand. It operates in two segments: e-Wallet Business and Banking Business. The company offers micro-SME, home, personal, cash, nano and microcredit, and gold loans; deposit products including current, savings, fixed deposit, tax free, and other accounts; and mutual funds. It also provides international trade finance, such as international trade credit, international remittance services for import and export, and foreign exchange rates; and other services comprising non-performing assets, cards, money transfer, PromptPay, and safe deposit box services. The company was formerly known as The Thai Credit Retail Bank Public Company Limited and changed its name to Thai Credit Bank Public Company Limited in September 2023. It was incorporated in 1970 and is headquartered in Bangkok, Thailand. Thai Credit Bank Public Company Limited is a subsidiary of Vnb Holding Company Limited.
Brokers say bank stocks will survive, eye Q3 earnings growth, recommend accumulating KKP and CREDIT, wait for a dip on KBANK
Chayut Krailatrattanasiri, Assistant Director of the Securities Analysis Department at Land and Houses Securities, disclosed that the decline in banking stocks, particularly KBANK, stemmed from pressure from foreign capital continuing to flow out of the Thai stock market in September, together with concerns over the earnings outlook for the third quarter of 2026. He expects the group's net profit to fall about 1.6% quarter-on-quarter and 10.6% year-on-year, weighed down by the high profit base of the previous year and the impact of interest rate adjustments. For KBANK, third-quarter net profit is expected to contract by nearly 10% quarter-on-quarter and by roughly 7% year-on-year, while non-interest income should hold up, especially at banks with a strong wealth management business. Investors should monitor the actual earnings announcements in mid-October, with three key variables: the recovery in lending, still-strong asset quality, and financial costs and provisions coming in lower than expected. On investment strategy, he recommends gradual accumulation, selecting individual stocks whose third-quarter earnings can still grow. CREDIT stands out most in the group and is expected to grow both quarter-on-quarter and year-on-year, while KKP is expected to post outstanding growth compared with the same period last year. For KBANK and the large banks, he advises waiting for a good entry point to accumulate.
KBANK.BK · Capital · Negative KBANK's third-quarter net profit is expected to contract nearly 10% quarter-on-quarter and about 7% year-on-year, and brokers advise waiting for a dip before accumulating.
CREDIT.BK · Capital · Positive CREDIT stands out most in the group and is expected to grow both quarter-on-quarter and year-on-year, so brokers recommend accumulating it.
KKP.BK · Capital · Positive KKP is expected to post outstanding growth compared with the same period last year, leading brokers to recommend accumulating it.
Kasikorn Securities: Bangkok Flooding Has Limited Impact on Finance Sector, CREDIT and TIDLOR Most Exposed with Highest Bangkok Loan Shares
Kasikorn Securities stated that about 10% of the Bangkok area was affected by flooding from rainfall during September 25–28, with roughly 329,000 households and about 700,000 people affected, and expects conditions to return to normal by October 1, or a total flood duration of about 5 days. Within the financial business group, CREDIT has the highest proportion of loans in Bangkok and its vicinity at about 80% of its loan portfolio, followed by TIDLOR at 28%, while MTC, SAWAD and TURBO each have about 10% of their total loan portfolios. SAK is the only company with no loans in Bangkok, so the impact on the group is expected to be limited, since the affected area is not widespread and most financial operators have loan portfolios spread across the country. The impact is expected to show up in loan yields and credit cost in the fourth quarter of 2026, after the flooding occurred late in the third quarter of 2026, through customer assistance measures such as debt payment holidays and debt restructuring. Historical data from the southern Thailand floods in the fourth quarter of 2025 suggests the impact on profits was limited, with TIDLOR the only company to set aside an additional 200 million baht in reserves and to reverse some reserves in the first quarter of 2026. The research team maintains a neutral view on the financial group, with top picks MTC at a target price of 39.0 baht, TURBO at a target price of 2.56 baht, and THANI at a target price of 2.4 baht, all expected to see limited impact.
CREDIT.BK · Supply · Negative CREDIT has the highest Bangkok-area loan exposure (~80% of portfolio), making it most vulnerable to flood-driven yield and credit-cost pressure.
TIDLOR.BK · Supply · Negative TIDLOR has 28% of its loan portfolio in Bangkok, exposing it to flood-related credit cost and reserve needs in Q4 2026.
MTC.BK · Supply · Neutral MTC has ~10% of loans in Bangkok, so flood impact is limited; it is also a top pick with a 39.0 baht target price.
SAWAD.BK · Supply · Neutral SAWAD has ~10% of loans in Bangkok, implying only limited flood-related exposure.
SAK.BK · Supply · Positive SAK is the only company with no loans in Bangkok, so it is insulated from the flooding impact.
THANI.BK · Supply · Neutral THANI is named as a top pick with a 2.4 baht target price and expected limited flood impact, but its Bangkok loan share is not specified.
CREDIT launches debt relief measures with up to 2-month principal and interest payment suspension to help flood-affected customers
Thai Credit Bank Public Company Limited, or CREDIT, has announced urgent relief measures to ease the hardship of customers affected by flooding in Bangkok, its surrounding provinces, and flood-hit areas nationwide, aiming to boost liquidity and help customers resume their businesses without interruption. Those eligible for assistance include debtors across all segments: SME, MSME, Retail, Consumer, and Nano & Micro Finance. The relief takes the form of a suspension of both principal and interest payments for up to 2 months. Customers in Bangkok and its surrounding provinces can apply to join the programme from 24 September 2026 to 7 November 2026, while those in other areas can apply within 45 days of being affected. Those interested in further details can call 02 697 5454.
CREDIT.BK · Capital · Negative CREDIT suspends principal and interest payments for up to 2 months for flood-affected customers, deferring cash flows and pressuring earnings.
Flash floods force 8 banks to temporarily close over 200 branches in Bangkok, surrounding provinces and the East
Following heavy rain and widespread flooding in many areas of Bangkok, its surrounding provinces and provinces in the East, several financial institutions announced the temporary closure of more than 200 branches on 28 September 2026, while also adjusting the opening and closing hours of some branches. Krungthai Bank temporarily closed the most branches, 105 in total, comprising 74 closed due to flood impact and 31 closed for a special public holiday. Kasikornbank closed 57 branches, Siam Commercial Bank closed 37, Bank of Ayudhya closed 26, TTB closed 16, UOB closed 15, Land and Houses Bank closed 4, TISCO Bank and Thai Credit Bank closed 3 branches each, and CIMB Thai Bank closed 1 branch. Each bank has advised customers to use nearby branches or the bank's digital channels instead.
Fitch Upgrades Thailand's Outlook to Stable, Bank Stocks Rise Across the Board
Fitch Ratings has revised Thailand's credit rating outlook from Negative to Stable while affirming the rating at BBB+, an investment grade level. As a result, bank stocks rose across the board at 3:00 p.m., led by KBANK up 2.77% to 260.00 baht on trading value of 3.83 billion baht, followed by BAY up 2.61% to 39.25 baht, SCB up 2.30% to 156.00 baht, CREDIT up 1.32% to 23.00 baht, BBL up 1.29% to 196.00 baht, KTB up 1.11% to 45.50 baht, and TISCO up 0.39% to 128.00 baht. TISCO Securities noted four main reasons behind the outlook upgrade: reduced political risk following the election and the formation of a stable government, continuity of economic policy, an improving public debt outlook expected to hold below 63% of GDP in fiscal year 2028, better-than-expected GDP growth driven by investment in AI and data centers, and a strong external position supported by expectations of a return to a current account surplus of 1.5% next year. Based on a study of market movements after Moody's last upgraded Thailand's outlook on April 21 this year, bank stocks delivered positive returns and outperformed the SET across all timeframes, with SETBANK at +1.16%, +1.22%, +4.56%, and +28.56% versus the SET at -0.11%, +0.56%, +3.43%, and +11.55% respectively. The recommended strategic stocks are KBANK with a base target of 290 baht, KTB at 50 baht, and TTB at 3.3 baht. Meanwhile, the yield on 10-year Thai government bonds fell from 2.38% to 2.26%, a decline of 12 basis points, which is positive for interest-rate-sensitive stocks. Preferred picks are MTC at 55 baht, TIDLOR at 25 baht, and power plant stocks such as GULF at 82 baht and EGCO at 144 baht.
BAY.BK · Monetary · Positive BAY rose 2.61% as Fitch upgraded Thailand's outlook to Stable and 10-year bond yields fell 12bp, positive for rate-sensitive bank stocks.
BBL.BK · Monetary · Positive BBL rose 1.29% amid the sovereign outlook upgrade and falling Thai government bond yields benefiting banks.
CREDIT.BK · Monetary · Positive CREDIT gained 1.32% as the Fitch outlook upgrade and lower bond yields lifted Thai bank stocks broadly.
KBANK.BK · Monetary · Positive Fitch upgraded Thailand's outlook to Stable and KBANK rose 2.77%, with the bank named as a recommended strategic stock with a 290 baht target.
KTB.BK · Monetary · Positive Fitch outlook upgrade lifted Thai bank stocks and KTB is a recommended strategic pick with a 50 baht target.
SCB.BK · Monetary · Positive SCB rose 2.30% as Thai bank stocks gained across the board after Fitch revised Thailand's outlook to Stable.
CREDIT moves ahead with SME loan expansion, targets portfolio of 200 billion baht
Thai Credit Bank, or CREDIT, has unveiled its plan for the second half of 2026 to accelerate the expansion of its micro-SME, nano, and micro-credit loan base, following the slowdown in lending by major banks. The bank targets year-end outstanding loans of 200 billion baht, up from 194 billion baht in the first half, and growth of 13% year-on-year. Chief Executive Officer Roy Agustinus Gunara said the strength of the SME customer group lies in its high adaptability, keeping NPL at 4.3%, lower than the industry average of 9%, and helping maintain ROE at 16.1%, with a full-year target of 16-20%. Meanwhile, NIM is expected to be in the range of 7.5-8%. The bank views the slowdown in lending by competitors as an opportunity to support customers, and it also benefits from government measures such as Thai Chuay Thai Plus.
CREDIT.BK · Demand · Positive CREDIT is accelerating expansion of its micro-SME, nano, and micro-credit loan base, targeting 200 billion baht in outstanding loans, up 13% year-on-year.
Thai Credit Bank, or CREDIT, disclosed that loans for micro-merchants and small entrepreneurs grew robustly in the first half of 2026, with new loan volume jumping 55 percent. The expanding loan portfolio is a testament to the determination of micro-merchants who continuously develop their businesses. The bank continues to press ahead with comprehensive support programs, including shop signage, financial literacy training through the Tang To Know-How project, and scholarships for merchants' children. For the second half of the year, the bank will focus on developing loan products and digital services via the MicroPay e-wallet application and promoting QR code payments for merchants to receive money, using transaction data to enhance credit assessment and expand access to funding in the future.
Brokerage expects CREDIT to pay a dividend of 1.11 baht this year, raises target price to 29 baht
Analysts at Pi Securities forecast that CREDIT will pay a dividend of 1.11 baht in 2026 and 1.25 baht in 2027, based on a 30% payout ratio assumption, with a possible increase in the payout rate to align with the banking sector average of around 55–60%. Net profit is expected to grow 14% in 2026 and 13% in 2027, driven by expansion of high-yield personal loans and lower funding costs, lifting ROE to 16.4% over 2026–2027. The research team maintains a buy recommendation and raises the target price to 29 baht from 25 baht, reflecting improved profitability. Second-quarter 2026 net profit came in at 1 billion baht, up 7% year-on-year but down 15% quarter-on-quarter, while the NPL ratio rose to 4.3%.
Pi Securities expects 8 banks to pay high interim dividends, with SCB, KKP, and TISCO yielding over 6%
Pi Securities assesses that eight commercial banks will pay high interim dividends, with the full-year average dividend yield for the banking group expected at 5.7%, excluding special dividends. Thanadech Rungsrithananon, Director of Research at Pi Securities, notes that SCB, KKP, and TISCO will have dividend yields of no less than 6%. SCB is expected to pay 10.42 baht per share for the full year, representing 6.8%. KKP is expected to pay 7.50 baht per share, representing 6.3%. TISCO is expected to pay 7.75 baht per share, representing 6%. For BBL, despite a decline in profit, it is still expected to pay the same 10 baht per share for the full year, representing 5.3%. KBANK is expected to pay 12 baht per share for the full year, representing 5.1%. Meanwhile, KTB is expected to pay 2.09 baht per share, representing 5%. TTB is expected to pay 0.13 baht per share, representing 4.6%. CREDIT is expected to pay 1.05 baht per share, representing 4.5%. BAY is expected to pay 1.40 baht per share, representing 3.5%. Regarding the profit trend for the second half of the year, Thanadech views that if capital market income is excluded, profits will not be spectacular, as net interest margins are starting to stabilize and loans may rise slightly in line with private sector investment.
Bank of Thailand reports commercial bank lending rates as of 31 July 2026
The Bank of Thailand has released commercial bank lending rates as of 31 July 2026, based on the latest data received from commercial banks at around noon. The lowest MOR rate is 6.275 percent from Siam Commercial Bank, and the highest is 8.13 percent from Thai Credit Bank Public Company Limited. The lowest MLR is 6.30 percent from Krung Thai Bank and Sumitomo Mitsui Trust (Thai), and the highest is 8.73 percent from Thai Credit Bank Public Company Limited. For MRR, the lowest is 6.50 percent from Bangkok Bank, and the highest is 9.60 percent from Thai Credit Bank Public Company Limited. The highest rate for general loans is 35.00 percent from Thai Credit Bank Public Company Limited, and the highest default rate is 35.00 percent from the same bank. Since 1 July 2005, personal loan rates under supervision have been excluded.
Thai Credit champions people and technology to drive financial equality
Thai Credit Bank has outlined its business approach that combines personnel and technology to create financial equality for small entrepreneurs and micro SMEs. It uses a network of over 500 retail credit branches nationwide as a channel for staff to go into communities and provide close consultation. The bank is also pressing ahead with developing digital platforms, such as the MicroPay e-wallet application for merchants and the alpha SME application for micro SME operators, to reduce paperwork and speed up loan approvals. In addition, it has expanded Business Center services to six branches in key economic hubs, namely Chiang Mai, Chonburi, Khon Kaen, Samut Sakhon, Nakhon Ratchasima, and Surat Thani, to offer credit advice by expert teams. It is also introducing the digital deposit product alpha Savings by Thai Credit, which offers interest of up to 1.6 percent per year on maximum deposits of 500,000 baht, and a mutual fund trading service via the Streaming Fund+ application, with investments starting from just 1 baht.
CREDIT.BK · Technology · Positive Bank is developing digital platforms (MicroPay, alpha SME, Streaming Fund+) to improve efficiency and customer reach.
Kasikorn Securities says bank stock pullback is an opportunity, recommends KKP, KTB, CREDIT
Kasikorn Securities notes that second-quarter 2026 banking group profit came in slightly above expectations, driven by wealth management and FVTPL gains. Combined profit for the seven banks under coverage was 50.4 billion baht, down 1% quarter-on-quarter and 3% year-on-year, but 4% above forecasts. The outlook for the second half of 2026 is expected to improve, supported by stable net interest margins, corporate loan growth, and lower expected credit losses after heavy provisioning in the first half. The research team maintains a positive view on the banking sector but emphasizes greater stock selectivity, recommending KKP, KTB, and CREDIT as top picks on expectations that second-half 2026 earnings will improve as expected credit losses decline.
CREDIT first-half profit surges to 2.15 billion baht, up 17.8%
Thai Credit Bank, or CREDIT, reported a first-half 2026 net profit of 2.1539 billion baht, an increase of 17.8 percent from the same period last year. Second-quarter net profit stood at 989.3 million baht, up 6.9 percent. The growth was driven by a 6.8 percent rise in interest income, following a 13.1 percent expansion in total loans to 194.0805 billion baht, with Micro SME loans growing as much as 13.9 percent. The net interest margin remained strong at 7.1 percent, while the non-performing loan ratio was 4.3 percent, still below the target of 4.5 percent. The bank is confident that full-year loan growth will be in double digits, while keeping NPLs within the target range.
Thai Credit Bank reports first-half profit of 2.15 billion baht, up 18%
Thai Credit Bank Public Company Limited, or CREDIT, reported a net profit of 2.15 billion baht for the first half of 2026, an increase of 17.8 percent from the same period last year. The growth was supported by a 6.8 percent rise in interest income, driven by the expansion of total loans, which stood at 194.08 billion baht at the end of the second quarter, up 13.1 percent year-on-year. Micro SME loans grew 13.9 percent following the launch of new products and dedicated business centers. The net interest margin rose to 7.1 percent for the first half. On asset quality, the non-performing loan ratio was 4.3 percent, while the loan loss coverage ratio remained high at 148.2 percent. The chief executive officer said the bank remains confident in achieving double-digit loan growth for the full year, while keeping the NPL ratio below 4.5 percent.
CREDIT.BK · Capital · Positive Net profit up 18%, interest income up 6.8%, loan growth 13.1%, NIM improved to 7.1%, and management confident in double-digit loan growth.
Major bank stocks dip on sell-on-fact pressure after second-quarter 2026 earnings reports
Shares of large commercial banks declined in morning trade today on profit-taking after the release of second-quarter 2026 results. BAY fell 7.10 percent to 42.50 baht, TTB dropped 3.38 percent to 2.86 baht, CREDIT lost 2.88 percent to 25.25 baht, TISCO shed 2.63 percent to 129.50 baht, KBANK decreased 2.10 percent to 232.00 baht, BBL slipped 1.97 percent to 199.00 baht, KKP was down 1.83 percent to 107.50 baht, SCB declined 1.58 percent to 156.00 baht, and LHFG edged 0.77 percent lower to 1.29 baht. Thanadech Rangsithananon, assistant managing director of securities analysis at Pi Securities, said that although earnings were quite good and in line with expectations, with a positive outlook for the second half, the strong share price rally has made valuations stretched. Many banks are trading at or slightly above a price-to-book value of one times, which may require analysts to upgrade earnings estimates and P/BV targets. Meanwhile, consistently high dividend payouts could result in lower dividend yields as share prices rise, causing stocks to consolidate after pricing in positive factors and absorbing significant fund inflows.
SET closes higher, bank stocks gain on better-than-expected earnings
The Thai stock market closed up 6.97 points, with buying in DELTA and construction stocks benefiting from the Landbridge project. Meanwhile, banking stocks rose on better-than-expected earnings. Krung Thai Bank reported first-half 2026 profit exceeding 24 billion baht, up 7.6%, while Bangkok Bank posted first-half net profit of 20.492 billion baht, despite a 16.2% decline. Thai Credit saw first-half profit surge 17.8%, driven by its Micro SME loan portfolio nearing 200 billion baht.
Thailand