TMBThanachart Bank Public Company Limited offers commercial banking products and services to individuals, large, medium, and small businesses, and corporate customers, primarily in Thailand. It operates through Commercial Banking and Retail Banking segments. The bank provides wholesale banking services such as corporate loans, letters of guarantee, deposits, trade finance, foreign exchange, supply chain solutions, and financial management, as well as small enterprise services including corporate loans, deposits, and bancassurance. It also offers deposits, housing loans, hire purchase, finance lease, personal loans, card services, mutual funds, and foreign currency services. Formerly known as TMB Bank Public Company Limited, it changed its name to TMBThanachart Bank Public Company Limited in May 2021. Founded in 1957, it is headquartered in Bangkok, Thailand.
TTB gains from wealth push, high rates, and returning foreign funds
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New Webull partnership expands wealth management TTB launched 'My Wealth' with Webull, letting customers invest in US stocks and ETFs via ttb touch. It expects at least half of its 600,000 customers to use it, boosting fee income and shifting focus from loans to wealth.
This is a new, company-specific growth driver that directly supports TTB's revenue and profit outlook.
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Fed rate hike and high bond yields favor banks The Fed raised rates to 3.75–4.00% and may hike again. Brokers say this pressures growth stocks but helps banks like TTB, which earn more from high interest rates. TTB was named a beneficiary by several securities firms.
This macro shift is a key new force lifting bank stocks, including TTB, by improving their earnings outlook.
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Fitch outlook upgrade and foreign buying lift bank stocks Fitch revised Thailand's credit outlook to stable, and foreign investors bought 6.7bn baht of Thai stocks in three days. Bank stocks rose, with TTB cited as a beneficiary. DAOL expects TTB to gain most from the outlook revision.
This new development improves investor confidence and brings fresh money into Thai banks, directly supporting TTB's price.
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Q3 profit seen up, dividend payout raised Pi Securities estimates TTB's Q3 profit at 5.4bn baht, up 3% year on year, and raised the dividend payout to 70% from 60%. Loans are still shrinking, but fee income and steady margins support earnings.
This new analyst forecast gives a concrete, near-term positive earnings and dividend signal for TTB.
Q3 2026
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TTB hits 8-year high on buyback, dividends, but ING selldown caps gains
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Strong Q2 earnings and 8-year high TTB's Q2 profit beat forecasts, lifting shares to an eight-year high and first-half profit up 5.8% to 10.68 billion baht. This earnings strength showed the bank's profitability and drove investor optimism.
Earnings beat is a key positive driver of the stock's price surge.
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35 billion baht buyback and high dividend yield A 35 billion baht buyback, with 21 billion completed early, retired 10.29% of shares. Combined with a ~7% dividend yield, the best among Thai banks, this returned cash to shareholders and supported the stock.
Buybacks and dividends directly boost shareholder value and demand for the stock.
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New wealth partnerships and SME credit measures New DBS/Webull wealth partnerships and SME credit measures could add up to 200 billion baht in yearly loans. Brokers upgraded TTB on cheap valuation, citing growth potential from these initiatives.
These partnerships and upgrades signal future growth and improved sentiment.
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ING selldown and Fitch warning on bad loans ING's €475 million selldown cut its stake to 11.6%, creating a supply overhang that capped gains. Fitch warned Thai bank profits will shrink in 2026 on slow growth and rising bad loans, while TTB's loans continue shrinking.
These factors created selling pressure and negative outlook, limiting upside.
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CGSI expects Q3/2026 bank profits to shrink 9.2%, names KBANK as Top Pick
CGS International Securities (Thailand), or CGSI, estimates that the combined net profit of the eight banks covered by its analysts in the third quarter of 2026 will come to 57.4 billion baht, down 9.2% from the same period a year earlier but up 1.8% from the previous quarter. The decline is pressured by an overall commercial banking sector loan book that is trending toward slower expansion, based on monthly loan data from the Bank of Thailand for August 2026, which showed that large corporate customers of Bangkok Bank, or BBL, and Kiatnakin Phatra Bank, or KKP, made substantial debt repayments. As a result, the combined loans of the banks covered by the analysts fell 0.1% in August from the previous month, though they still grew 3.0% from the same period a year earlier and are up 2.4% since the start of the year. The banks still posting positive loan growth are led by Thai Credit Bank, or CREDIT, Krung Thai Bank, or KTB, and Tisco Financial Group, or TISCO. Pre-provision operating profit is expected to fall 6.8% from the same period a year earlier but rise 1.7% from the previous quarter, while the net interest margin is expected at 2.89% and the non-performing loan ratio at 3.66%. Breaking it down bank by bank, KKP is expected to post the strongest performance, with net profit growing as much as 32.2% from the same period a year earlier, followed by TMBThanachart Bank, or TTB, whose net profit is expected to grow 4.6% from the same period a year earlier. On the other hand, BBL is expected to post the weakest results, with net profit down 24.5% from the same period a year earlier, followed by KTB, whose net profit is expected to fall 16% from the same period a year earlier. On investment strategy, CGSI recommends maintaining a Neutral weighting and selects Kasikornbank, or KBANK, as its Top Pick for the sector, given that fee income from wealth management accounted for as much as 18% of its non-interest income in 2025, and it expects a dividend yield of as much as 6.2% in 2026, beating the sector average of 5.6%.
BBL.BK · Capital · Negative BBL expected to post the weakest results with net profit down 24.5% YoY, pressured by large corporate debt repayments.
KBANK.BK · Capital · Positive CGSI selects Kasikornbank as its Top Pick with a Neutral sector weighting.
KKP.BK · Capital · Positive KKP expected to post the strongest performance with net profit growing 32.2% YoY.
KTB.BK · Capital · Negative KTB expected to post net profit down 16% YoY, among the weakest results.
CREDIT.BK · Capital · Positive Thai Credit Bank is among the banks still posting positive loan growth.
TISCO.BK · Capital · Positive CGSI notes TISCO is among the banks still posting positive loan growth, a favorable mention in the Q3/2026 earnings preview.
4 brokerages expect Q3/2026 bank group profits to slow to 49,400-54,980 million baht
Four leading brokerages estimate that the combined net profit of seven commercial banks in the third quarter of 2026 will slow compared with a year earlier and hold steady to edge down from the previous quarter, with combined net profit expected at around 49,400 to 54,980 million baht, according to Yuanta Securities (Thailand), Bualuang Securities, Finansia Syrus Securities, and Kasikorn Securities. The main pressures come from net interest margins narrowing along the rate-cutting cycle, lower investment and FVTPL gains from a high base a year earlier, and still-limited growth in retail and SME loans. These are partly offset by lighter provisioning after many banks front-loaded reserves in the first half, a steady average non-performing loan ratio of about 3.5%, and fee income beginning to recover on wealth management and capital markets business. For the fourth-quarter outlook, the brokerages see the overall picture weakening further both year on year and quarter on quarter, possibly marking the year's low, while for the full year 2026 they expect the bank group's combined net profit to fall about 3.5% to 5.3% before returning to roughly 5% growth in 2027. On top picks, Yuanta chose KKP with a target price of 130 baht, Bualuang chose KKP, TISCO, BBL, KBANK and TTB, Finansia Syrus chose BBL with a target price of 240 baht and KTB with a target price of 47.30 baht, while Kasikorn chose KTB and KKP, raising their target prices by 1% to 3%.
KKP.BK · Capital · Positive KKP is a top pick for both Yuanta (130 baht target) and Kasikorn Securities, which raised its target price.
KTB.BK · Capital · Positive Finansia Syrus picks KTB with a 47.30 baht target and Kasikorn Securities also selects KTB while raising target prices.
BBL.BK · Capital · Neutral Bualuang and Finansia Syrus name BBL a top pick with a 240 baht target, but the group's Q3/2026 profits are seen slowing on margin pressure.
KBANK.BK · Capital · Neutral Bualuang lists KBANK among top picks, yet the bank group's Q3/2026 net profit is expected to slow on narrowing NIMs and lower FVTPL gains.
TTB.BK · Capital · Negative Brokerages expect the bank group's Q3/2026 combined net profit to slow on narrowing net interest margins and lower investment/FVTPL gains, with TTB named among Bualuang's top picks.
TISCO.BK · Capital · Positive TISCO is named among Bualuang Securities' top picks for the bank group.
TTB launches ES-ULTIMATE GAIF fund targeting 7% annual returns
TTB has launched a new fund, ES-ULTIMATE GAIF, after the ES-ULTIMATE GA Series of risk level 5 funds saw their combined net asset value surpass 50 billion baht as of September 25, 2026. Kanokwan Phetphisitchot, Head of the Banking Products and Wealth Management Group at TTB, said the success reflects investor demand for comprehensive investment solutions in a single fund. The ES-ULTIMATE GAIF fund, or Eastspring Ultimate Global Allocation Income Focus Fund, carries a risk level of 5 and focuses on generating cash flow alongside asset growth opportunities by diversifying investments across global equities, global fixed income, a volatility management strategy using ELN, and liquidity-enhancing assets. It targets total returns of approximately 7% per year and recommends an investment horizon of three years or more. Yingyong Jiaravuthi, Deputy Managing Director of the Investment Management Division at Eastspring Asset Management (Thailand) Company Limited, said the fund builds on the portfolio management approach of the ES-ULTIMATE GA Series, retaining its strength in global multi-asset allocation under the management of Amundi Asset Management.
TTB.BK · Capital · Positive TTB launches the ES-ULTIMATE GAIF fund, expanding its wealth-management product lineup after its GA Series funds surpassed 50 billion baht in NAV.
Eastspring Asset Management (Thailand) Company Limited · Capital · Positive Eastspring Asset Management (Thailand) is the fund manager of the newly launched ES-ULTIMATE GAIF fund, building on its ES-ULTIMATE GA Series approach.
Asia Plus expects 8 banks' Q3/2026 profit at 65 billion baht, up 1.6% QoQ
Asia Plus Securities estimates the combined net profit of eight banks in the third quarter of 2026 at 65 billion baht, growing 1.6% from the previous quarter but falling 8.8% from a year earlier, due to the high base of securities trading revenue last year, particularly at Bangkok Bank. It expects only KKP, TISCO and TTB to post year-on-year profit increases. Quarter-on-quarter growth is led by Krungthai Bank, up 7%, on a recovery in net interest income in line with loans and trading revenue boosted by mark-to-market gains on low-cost THAI shares, followed by Bangkok Bank, up 5%, on expected seasonal declines in OPEX and ECL. Other banks are estimated to be flat to down 1% to 2%. If in line with expectations, first-nine-month profit for 2026 will be 194 billion baht, down 3.6% from a year earlier, accounting for 78% of the research house's full-year forecast and 76% of the BB Consensus. Group net interest income recovered 1.4% quarter on quarter, lifting NIM by 4 bps to 3.02%, while credit cost stood at 1.4%, down from 1.5% in the second quarter, and NPLs to loans are expected to be flat at 3.6%. The research house maintains a Neutral weighting, with KTB and then KBANK as its top strategic picks.
BBL.BK · Capital · Negative Q3/2026 profit expected down 8.8% YoY due to high base of securities trading revenue, particularly at Bangkok Bank, though QoQ up 5% on lower OPEX and ECL.
KTB.BK · Capital · Positive Krungthai Bank leads QoQ growth at 7% on recovery in net interest income and trading revenue, and is Asia Plus's top strategic pick.
KKP.BK · Capital · Positive KKP is one of only three banks expected to post year-on-year profit increases in Q3/2026.
TISCO.BK · Capital · Positive TISCO is one of only three banks expected to post year-on-year profit increases in Q3/2026.
KBANK.BK · Capital · Neutral Named as Asia Plus's second top strategic pick after KTB, but no specific Q3 profit estimate given; other banks flat to down 1-2%.
TTB.BK · Capital · Positive TTB is among only three banks expected to post year-on-year profit increases in Q3/2026, per Asia Plus Securities.
Brokers expect Q3/2026 banking sector core profit to grow 5% to 42.9 billion baht
Bualuang Securities' Research team estimates that the combined core profit of the banking sector in the third quarter of 2026 will be 42.9 billion baht, up 5% YoY and 7% QoQ, higher than the third-quarter 2026 GDP estimate of 2.0% YoY. Two main factors support this: lower provisioning and growing fee income. For provisioning, the sector's average rate is expected at 1.30%, down 17bps YoY and 2bps QoQ, while the average non-performing loan ratio to total loans is expected to edge up slightly from 2.98% at the end of June 2026 to 3.00% at the end of September 2026. The ratio of loan-loss reserves to non-performing loans is expected at 204.1%, flat QoQ. Total net fee income is expected at 40.3 billion baht, up 14% YoY and 5% QoQ, driven mainly by the wealth management business, whose combined net asset value of bank-owned asset management companies stood at 7.8 trillion baht at the end of August 2026, up 4% since the start of the quarter and up 11% YoY. Securities brokerage fee income is likely to grow significantly both YoY and QoQ, from securities trading value expected to rise 64% YoY and 34% QoQ in the third quarter of 2026. Counting total net profit of the banking sector in the third quarter of 2026, it is expected at 55.2 billion baht, down 11% YoY and flat QoQ, due to lower average net interest margin and lower mark-to-market gains on financial instruments. Banks expected to post YoY core profit growth are KKP +73%, TISCO +23%, BBL +20%, KBANK +5% and TTB +4%, while KTB is expected to see core profit fall 11% YoY and SCB is expected to be flat YoY. For the fourth quarter of 2026, combined core profit is expected at 39.7 billion baht, up 10% YoY but down 8% QoQ, on higher operating expenses. For 2027, the banking sector's combined net profit is expected at 221 billion baht, up 1% YoY, supported by loan growth expected at 2% YoY and net fee income growth of 4% YoY, while average net interest margin has likely already passed its trough in the second quarter of 2026 after most loan and deposit rate adjustments were completed.
Bank stocks slump on fears flood-relief measures will pressure NIM; brokers recommend buying KBANK, KTB, KKP, TTB
Banking stocks fell sharply in trading on September 30, 2026, after the market worried that relief measures for customers affected by flooding would pressure net interest margins, or NIM. As of 11:04 a.m., KBANK stood at 232 baht, down 10 baht or 4.13%; KTB at 41 baht, down 2.25 baht or 5.20%; BBL at 185.50 baht, down 3.50 baht or 1.85%; SCB at 149.50 baht, down 3.50 baht or 2.29%; TTB at 2.92 baht, down 0.08 baht or 2.67%; and KKP at 109.50 baht, down 3 baht or 2.67%. KGI Securities (Thailand), or KGI, disclosed that several commercial banks have rolled out relief measures to help both retail loan customers and SME business loan customers, covering everything from a three-to-six-month suspension of interest payments, reduced principal repayments, lower monthly instalments, extended debt repayment periods, to special interest rates. For SME customers, most banks are offering extra help, such as additional working capital loans and special-rate loans of around 3.5%. Combined with assistance from state specialised financial institutions, or SFIs, this is expected to support borrowers nationwide comprehensively. KGI assesses that KTB will be hit hardest, as retail customers make up as much as 40% of its total loans, followed by SCB at 15%, then KBANK at 10%, and BBL at less than 10%. However, the research team views these measures as an opportunity for banks to accelerate debt restructuring, which would help ease pressure on bad-debt provisioning expenses. It forecasts bad-debt provisioning expenses in 2026 at 1.04% for KTB, 1.24% for BBL, 1.50% for KBANK, and 1.62% for SCB. It maintains an Overweight stance on the commercial banking sector even though these stocks have underperformed the SET Index recently, and it expects the floods will not significantly affect the overall economy or GDP growth. It sees the share price pullback as an opportunity to accumulate, and picks KBANK, KTB, KKP, and TTB as its top buy recommendations.
KTB.BK · Pricing · Negative KTB is assessed as hardest hit by flood-relief measures, with retail loans at 40% of its book, pressuring NIM.
BBL.BK · Pricing · Negative Flood-relief measures (interest suspensions, reduced repayments, special rates) are expected to pressure net interest margins, hitting BBL's lending profitability.
KBANK.BK · Pricing · Negative KBANK's participation in flood-relief measures, with retail loans at 10% of its book, is seen pressuring NIM.
SCB.BK · Pricing · Negative SCB's flood-relief measures, with retail loans at 15% of its book, are expected to pressure net interest margins.
TTB.BK · Pricing · Negative TTB shares fell as flood-relief measures (interest-payment suspensions, reduced instalments, special rates) are feared to pressure banks' net interest margins.
KKP.BK · Pricing · Negative KKP shares fell amid the sector-wide NIM pressure from flood-relief measures, though it is not singled out in KGI's exposure breakdown.
TTB launches "Set Up" relief measures with debt suspension and burden reduction for flood victims through 31 December 2026
TTB has introduced its "Set Up" measures to assist customers affected by flooding in Bangkok and several nearby areas, covering all customer groups including retail customers, business operators and SMEs. Home loan customers can suspend principal payments for up to 3 months, paying only interest, or request additional loan limits to repair their homes through the home-for-cash cash card with 0% interest for the first 2 months at an interest rate of MRR plus 0.77% per year, or 7.875% per year, based on MRR as of 2 March 2026 at 7.105% per year. Meanwhile, auto loan and auto-for-cash customers can suspend installments for up to 3 months, while personal loan and credit card customers can suspend debt payments for 3 billing cycles, with interest charged as normal. For business and SME customers, long-term loans will be considered for principal-free repayment for up to 6 months, revolving credit lines can have their principal repayment period extended by up to 6 months, and business hire-purchase loans can have their repayment period extended or their installment amounts reduced by up to 70% of the original installment, for 6 months. Affected customers can register their interest in joining the measures from today until 31 December 2026 through the bank's website, while business and SME customers can contact their business relationship managers or the TTB business customer service center directly.
TTB.BK · Capital · Negative TTB launches debt suspension and burden-reduction measures for flood-affected customers, deferring principal and installments, which pressures its loan book and earnings.
TISCO warns SMEs of bloated stockpiles as Chinese goods flood the market; ttb flags rising-star businesses
The TISCO Economic and Strategic Analysis Center, or TISCO ESU, is warning that Thai SME operators are facing multiple risks: harder access to funding, rising financial costs, production costs pushed up by inflation, slowing consumer purchasing power, and intensifying competition. Methas Rattanasorn, head of economic research at TISCO ESU, said that more than half of the inventory increase in the second quarter came from categories where sales fell but stockpiles rose, such as automobiles, petroleum, and chemicals, which could drag on economic growth from the first quarter of 2027 onward. He also noted that exports in the first two quarters of 2026 grew 20%, but the manufacturing sector grew only 0.1%, reflecting that goods produced for the domestic market barely grew and were displaced by Chinese products. Meanwhile, Thailand's exports rely increasingly on imported goods and components, rising from 48% in 2018 to about 70% today, creating a hollowing-out effect, with real economic value added barely moving since mid-2024. Methas proposed that the government use tax incentives for operators that use domestic raw materials and labor, or local content, such as tax exemptions for using 50% local content, following the example of Singapore, Indonesia, and Saudi Arabia. Thakorn Piyapan, chief executive of TMBThanachart Bank, or ttb, said the group of greatest concern is operators that have opened many branches to the point of fierce market competition, such as beverage shop chains. Rising-star businesses that align with an aging society include pet-related businesses, both dog and cat hotels and pet food, as well as health hospitality, massage, meditation, and health food, along with niche-market businesses such as small boutique hotels, electronic components and AI, and clinics certified by the Food and Drug Administration, or FDA. Electric vehicle businesses still have opportunities, especially repair shops that adapt to serve EVs, including paint repair, inspections, and specialized services. Thakorn advised SMEs to start with small, modest investments first to gauge the market, and not to rush into opening 10 branches at once.
TISCO.BK · · Neutral TISCO ESU warns of SME risks from bloated stockpiles, weak domestic demand, and Chinese import displacement, but no direct financial impact on TISCO is stated.
TTB.BK · · Neutral ttb CEO comments on at-risk SME operators and rising-star businesses, but the article states no direct financial impact on ttb.
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.
Kasikorn Securities Maintains Positive View on Banking Sector, Picks KTB and KKP as Top Picks
Kasikorn Securities stated in an analysis that the third-quarter 2026 profits of the seven banks under its coverage will come in at 49.4 billion baht, down 2% QoQ and 15% YoY, with the main pressure coming from lower fair value through profit or loss gains and lower investment gains QoQ as government bond yields rose. However, core operating performance is expected to improve QoQ on an anticipated 2bps QoQ rise in net interest margin thanks to lower interest costs, and a credit cost that is expected to fall 7bps on smaller management overlay provisions compared with the second quarter of 2026. Looking at individual stocks, KKP, TISCO and TTB are expected to report standout YoY third-quarter 2026 profit growth of 25%, 6% and 5% respectively, while BBL, KTB and SCB are expected to see significant YoY profit declines on weaker net interest margins and lower realized fair value through profit or loss and investment gains. For the fourth-quarter 2026 and 2027 outlook, banking sector profits are expected to remain supported by easing interest costs and credit costs gradually returning to normal levels, with loan growth expected to accelerate in the fourth quarter of 2026 driven mainly by corporate and government loans. The research team maintains a positive view on the banking sector, selecting KTB and KKP as top picks, and has shifted the valuation base year for all banking stocks from mid-2027 to end-2027, raising individual target prices by 1–3% without any change to earnings forecasts.
Bangkok Bank, Krungthai, Siam Commercial, and ttb roll out debt-relief measures for flood-hit customers
Thailand's commercial banks, including Bangkok Bank, Krungthai Bank, Siam Commercial Bank, and ttb, are rushing out relief measures for customers affected by flooding in several areas of Bangkok and nearby provinces, covering retail customers, SMEs, and businesses through principal payment deferrals, reduced installments, lower interest rates, debt restructuring, and new loans for home repairs and business recovery. Each bank has set different conditions and timeframes depending on loan type and the level of impact. Bangkok Bank is granting business loan customers a temporary suspension of principal payments of up to 12 months and cutting monthly installments on home and personal loans by as much as 40% for a period of up to 6 to 12 months, along with SME business loans with terms of up to 5 years and a fixed interest rate starting at 3.5% per year for 2 years. Krungthai Bank is reducing installments on home loans and SSME business loans to 75% of current installments for 1 year, with 0% interest per year for 3 months and a fixed interest rate of 2.5% per year for 33 months, for a total special-rate period of 3 years. Siam Commercial Bank is allowing individual customers to defer principal payments for up to 3 months and SME customers for up to 6 months, while increasing temporary revolving credit lines by up to 20% of the existing limit but not exceeding 10 million baht. ttb is allowing home loan customers to defer principal payments for 3 months and is considering principal-free repayment of up to 6 months for business and SME customers. Customers interested in joining each bank's measures can register their interest until December 31, 2026.
BBL.BK · Capital · Negative Bangkok Bank defers principal up to 12 months and cuts installments up to 40%, plus offers SME loans at 3.5%, pressuring its margins and cash flow.
KTB.BK · Capital · Negative Krungthai cuts home and SSME installments to 75% with 0% interest for 3 months and 2.5% fixed for 33 months, reducing interest income.
SCB.BK · Capital · Negative SCB X's Siam Commercial Bank allows principal deferrals and raises temporary credit lines, weighing on its loan book and earnings.
TTB.BK · Capital · Negative ttb defers home loan principal for 3 months and considers up to 6 months principal-free for business/SME customers, hurting its interest income.
Kasikorn says flood statistics only drag Thai stocks down 1%, advises waiting to buy at 1,565-1,580 points
Kasikorn Securities reviewed past flood statistics in Thailand, noting that since 2006 there have been more than 7 flood events, and found that the SET Index delivered negative returns of about 1% over a one-month period, except in 2011 when the great flood sent the SET down 14%. Sectors that outperformed the market were led by ICT and commercial banks, while financials and insurance fell about 2%, and electronics dropped the most at 8%, mostly due to 2011. As for the economic impact, excluding 2011, the monthly effect was in the range of 10 to 50 billion baht, or no more than 0.1-0.3% of GDP. And if assessed from the upside of extending the Khon La Khrueng co-payment scheme by 2 months, GDP estimates could come in around 2.0% plus or minus. Kasikorn Securities estimates the impact of this flood on the market's earnings per share forecast for 2026 to be fairly limited, and estimates the SET Index support range at 1,565-1,580 points, while viewing the decline as an opportunity to gradually accumulate banking, power plant, and electronics stocks, focusing on KTB, BBL, DELTA, and BGRIM. Meanwhile, many analysts view this flood situation, which occurred in late September 2026, as not yet as severe as the great flood of 2011, so panic selling is unlikely. Retail stocks benefit from stockpiling of food and essential goods, namely CPALL, CPAXT, and BJC, and after the water recedes it will be time for cleaning and home repairs, namely HMPRO, GLOBAL, and DOHOME, as well as road repairs, namely TASCO. Initially, state banks and commercial banks have rolled out customer assistance measures. For example, TMBThanachart Bank introduced the "Tang Lak" or "Get Back on Your Feet" measure covering all customer groups. Krungthai Bank introduced assistance measures for retail customers and SME operators, covering interest rate cuts and reduced installment payments, with customers able to express intent to join the program from September 26 to December 31, 2026. And Thai Airways is offering one free ticket change to help passengers affected by flooding in Bangkok and its vicinity.
DOHOME.BK · Demand · Positive DOHOME is cited as a home-repair beneficiary once floodwaters recede.
GLOBAL.BK · Demand · Positive GLOBAL is named as a home-repair/cleaning beneficiary after the flood recedes.
HMPRO.BK · Demand · Positive HMPRO is listed among home-repair/cleaning beneficiaries after the flood recedes.
BBL.BK · Monetary · Positive Kasikorn recommends accumulating banking stocks like BBL, and state/commercial banks are rolling out customer assistance measures amid the flood.
DELTA.BK · Demand · Positive Kasikorn recommends accumulating DELTA (electronics) as the flood-driven decline is seen as a buying opportunity.
KTB.BK · Demand · Positive KTB is recommended for accumulation and is rolling out customer assistance measures amid the flood.
Two brokers assess TTB: Krungsri raises target to 3.50 baht, Phillip recommends hold
Two brokers have issued analyses of TTB shares. Krungsri Securities recommends buying with a target price of 3.50 baht, expecting ROE to rise in 2026-2027 on net profit growth of 3% and 1% respectively. An increase in dividend payout to 70-75% puts dividend yield at 5% per year, and the remaining share buyback programme of 14 billion baht runs through 2028. Third-quarter 2026 net profit is expected at 5.40 billion baht, up 2% from a year earlier on fee income and FVTPL investment gains, but down 2% from the previous quarter on higher IT expenses. Phillip Securities expects third-quarter 2026 profit of 5.5 billion baht, up 4.4% from a year earlier and 0.3% from the previous quarter. It expects loans may contract 0.2% from the previous quarter, bringing a 1.9% decline from the end of 2025, and may push the NPL ratio back up from 2.9%. Phillip keeps its 2026 profit forecast at 21 billion baht, up 4.1%, and maintains a base price of 3 baht, with a 2026 dividend forecast of 0.16 baht per share, a dividend yield of 5.1%, and 0.19 baht per share in 2027, a yield of 6%. It therefore recommends hold.
TTB.BK · Capital · Neutral Two brokers diverge: Krungsri raises target to 3.50 baht on ROE/profit growth and buyback, while Phillip recommends hold with a 3 baht base price on loan contraction and rising NPLs.
TTB Reports 400% Growth in Sales of TTB US Multi-Asset Index Principal Protect 15/5 Life Insurance
TTB reported that sales of its TTB US Multi-Asset Index Principal Protect 15/5 life insurance product grew by as much as 400% compared with conventional index-linked life insurance products, driving TTB's overall life insurance sales to more than double the level of the same period last year. More than 60% of sales came from existing customers who returned to buy again, while over 40% came from new customers holding a life insurance policy with Prudential Life Assurance for the first time, particularly Wealth and Mass Affluent customers and promising working-age groups. TTB also said the product's reference index, the Citi-QuantCube Multi-Asset Regime VT8 Index, which is underwritten by Prudential Life Assurance (Thailand) Public Company Limited, has generated a return of more than 8% year-to-date amid volatility in global financial markets. A key feature that keeps the product a market leader is its participation rate of as much as 260%, a high level in the market across all insurance premiums, together with the Citi-QuantCube Multi-Asset Regime VT8 Index, which combines a multi-asset investment strategy with the use of AI to analyse economic data and market conditions worldwide and automatically adjust investment allocations in line with market conditions.
TTB.BK · Demand · Positive TTB's TTB US Multi-Asset Index Principal Protect 15/5 life insurance sales grew 400%, more than doubling its overall life insurance sales.
Prudential Life Assurance (Thailand) Public Company Limited · Demand · Positive Prudential Life Assurance (Thailand) underwrites the product and gained over 40% new customers holding a Prudential life policy for the first time.
Krungsri expects TTB dividend to rise to 5% per year in 2026-2027, recommends Buy with 3.50 baht target
Krungsri Securities recommends buying shares of TMBThanachart Bank, or TTB, with a 2027 target price of 3.50 baht. It expects ROE to improve in 2026-2027, driven by net profit growth of 3% year on year in 2026 and 1% year on year in 2027. It also expects an increase in dividend payout to 70-75% in 2026-2027, which would put the dividend yield at 5% per year. Meanwhile, a share buyback program still has 14 billion baht remaining through 2028. For third-quarter 2026 results, Krungsri research expects TTB to post net profit of 5.40 billion baht, up 2% year on year on a 29% rise in non-interest income. Compared with the previous quarter, however, net profit would fall 2% because operating expenses rose on higher IT costs. For fourth-quarter 2026, profit is expected to increase year on year on fee and service income, especially from the wealth segment, but to decline quarter on quarter on higher operating expenses. Total loans are expected to be flat, while the NPL ratio is expected to rise quarter on quarter amid uncertainty over the economic recovery.
TTB.BK · Capital · Positive Krungsri Securities recommends Buy with a 3.50 baht target, expecting ROE improvement, 3%/1% net profit growth, and a 5% dividend yield in 2026-2027.
Bualuang: loans at 7 banks flat MoM at end-August, up 3.4% YoY
Bualuang Securities reported that the combined loans of the seven banks it tracks stood at 10.9 trillion baht at the end of August, flat month-on-month and up 3.4% year-on-year. The increase was led by KTB, up 0.3% on government-sector lending; TISCO, up 0.3% on business and SME loans; TTB, up 0.2%; and KBANK, up 0.2% on business loans. Meanwhile, BBL fell 0.7%, KKP dropped 0.6%, and SCB slipped 0.1%. Total deposits rose 0.5% to 13.2 trillion baht, led by TISCO, TTB, and KTB. Combined loans at the end of September are expected to remain flat as banks stay strict on loan approvals amid a slowing economy, though full-year 2026 loans could come in about 1–2% above the previous assumption, with KBANK, KKP, and KTB likely to exceed estimates by 1–2%, while TTB faces a similar degree of downside risk. On earnings for July–August, TTB and TISCO look set to stand out year-on-year, with TTB up 11%, TISCO up 9%, KBANK up 7%, KKP up 6%, and KTB up 2%, while SCB was flat and BBL fell 19%. Bualuang Securities maintained an equal-weight stance on the banking sector, seeing early signs of improvement in loans and the potential for clearer momentum in the fourth quarter of 2026.
BBL.BK · Capital · Negative BBL's loans fell 0.7% MoM and July-August earnings dropped 19% YoY, the weakest among the tracked banks.
KBANK.BK · Capital · Positive KBANK's loans rose 0.2% on business loans, July-August earnings up 7%, and full-year 2026 loans likely to exceed estimates by 1-2%.
KKP.BK · Capital · Neutral KKP's loans dropped 0.6% MoM but July-August earnings rose 6% and 2026 loans may exceed estimates by 1-2%.
KTB.BK · Capital · Positive KTB led loan growth at 0.3% on government-sector lending, deposits rose, and 2026 loans likely to exceed estimates by 1-2%.
SCB.BK · Capital · Negative SCB's loans slipped 0.1% MoM and July-August earnings were flat, lagging peers.
TISCO.BK · Capital · Positive TISCO's loans rose 0.3% on business and SME loans, deposits led the increase, and July-August earnings are set to rise 9% YoY.
Fitch Revises Credit Outlook for 5 Thai Banks EXIM, KTB, TTB, SCBT and UOBT to Stable
Fitch Ratings (Thailand) Limited has revised the outlook on the long-term foreign-currency international credit ratings, or Long-Term IDRs, of five Thai banks, namely EXIM, KTB, TTB, SCBT and UOBT, to "Stable" from "Negative," while keeping the credit outlook for BBL at "Stable." The ratings that were affirmed are EXIM and KTB at BBB+, TTB and BBL at BBB, and SCBT and UOBT at A-. Fitch also affirmed the government support ratings for EXIM, KTB, TTB and BBL, and affirmed the shareholder support ratings for SCBT and UOBT. For BBL, Fitch kept its Viability Rating, or VR, unchanged and revised the outlook on its funding and liquidity factor score to "Stable" from "Negative." This outlook revision follows the upgrade of Thailand's sovereign credit outlook to "Stable," which reflects the government's capacity to provide extraordinary support to the banking group, which remains strong, amid domestic economic conditions recovering better than previously assessed. On subsidiaries, Fitch revised the credit outlook for KTB's Cayman Islands branch to "Stable" from "Negative," keeping its rating at BBB+ in line with the parent bank. Factors that would positively affect the ratings in the future include an upgrade of Thailand's sovereign rating, which would lead to an upgrade of government support and the long-term credit ratings of the banking group, though the chance of a near-term upgrade may still be limited. Risks that could lead to a downgrade include a downgrade of the sovereign rating or an economic recession significantly worse than expected.
BBL.BK · Capital · Positive Fitch kept BBL's outlook at Stable and revised its funding and liquidity factor score outlook to Stable from Negative.
KTB.BK · Capital · Positive Fitch revised KTB's long-term credit outlook to Stable from Negative and affirmed its BBB+ rating and government support rating.
TTB.BK · Capital · Positive Fitch revised TTB's long-term credit outlook to Stable from Negative and affirmed its BBB rating and government support rating.
KGI says three big banks KTB, KBANK and BBL to benefit as loans recover alongside private investment
KGI Securities (Thailand) says large corporate loans grew strongly in August 2026, with short-term money market loans and interbank lending rising sharply at every bank except Siam Commercial Bank, which shifted its excess liquidity into bond investments instead. Overall money market loans grew 14% month on month, with BBL and KBANK posting the strongest growth among the large banks at about 18% month on month each, followed by TTB at 14% month on month and KTB at 13% month on month, while KKP recorded growth of as much as 36% month on month. Retail loans declined broadly, with only KTB lending aggressively, as most banks applied cautious lending criteria, including for housing loans and hire purchase loans, with SCB and TTB seeing their hire purchase loan portfolios contract because of stricter standards on electric vehicles. KTB, however, appears to have a more aggressive policy on housing and retail lending, which should be positive for its net interest margin, while total loans and money market lending grew 1.4% month on month compared with deposits at 0.5% month on month. KGI says growth in private investment accelerated in August, in line with the recovery in lending, and large banks should be the main beneficiaries, with KTB, KBANK and BBL standing out the most, while the momentum in private investment could drive full-year loan growth about 2% above the banks' financial targets.
BBL.BK · Demand · Positive BBL posted strongest money-market loan growth (~18% MoM) and is named among large banks benefiting from recovering private investment and lending.
KBANK.BK · Demand · Positive KBANK posted strongest money-market loan growth (~18% MoM) and is named among large banks benefiting from recovering private investment and lending.
KTB.BK · Demand · Positive KTB is named among top beneficiaries, grew money-market loans 13% MoM, and its aggressive housing/retail lending should lift net interest margin.
KKP.BK · Demand · Positive KKP recorded the highest money-market loan growth at 36% MoM, benefiting from the lending recovery.
TTB.BK · Demand · Positive TTB's money market loans grew 14% month on month, benefiting from the recovery in private investment and corporate lending.
SCB.BK · Demand · Neutral SCB shifted excess liquidity into bonds instead of money-market lending and saw hire-purchase loans contract on stricter EV standards, offsetting the sector recovery.
Pi Securities expects TTB's third-quarter profit at 5.4 billion baht, raises dividend payout to 70%
Pi Securities estimates TTB's net profit in the third quarter of 2026 at 5.4 billion baht, up 3% year on year but down 1% quarter on quarter. Net interest income rose on NIM and fee income, particularly from the capital markets business, while profit fell on lower dividend income. Total loans are expected to decline 0.5% quarter on quarter, bringing loans in the first nine months of 2026 down 2.3% from the start of the year, dragged by large corporate loans, housing loans, and auto hire-purchase loans. NIM held steady at 3.1%, with an expected NPL ratio of 3% and a coverage ratio of 157%. The research team raised its net profit forecasts by 1% and 3% for 2026-2027 and lifted the dividend payout ratio to 70% from 60%, maintaining a hold rating with a target price of 3.20 baht. TTB also announced a wealth management partnership with DBS, under which the baht-denominated investment portfolios of DBS Vickers Securities Thailand clients will be transferred to TTB Wealth, completed in 2027. Net profit in 2027 is expected to fall about 7% year on year as the bank resumes paying taxes around the second to third quarter of 2027, after remaining tax benefits of 3.4 billion baht as of the end of the second quarter of 2026.
TTB.BK · Capital · Positive Pi Securities raised TTB's 2026-2027 profit forecasts and lifted the dividend payout ratio to 70% from 60%, maintaining a hold with a 3.20 baht target price.
TTB.BK · Demand · Positive TTB announced a wealth management partnership with DBS, transferring DBS Vickers Securities Thailand clients' baht-denominated portfolios to TTB Wealth by 2027.
DBS Vickers Securities (Thailand) Co., Ltd. · Competition · Neutral DBS Vickers Securities Thailand's baht-denominated client portfolios will be transferred to TTB Wealth under the partnership, a passing mention with no clear positive or negative impact on DBS Vickers itself.
Fitch Revises Thailand's Outlook to Stable, Boosting Bank Stocks KTB and TTB on Upgrade Hopes
The Thai stock market rose 13.88 points, or 0.88%, yesterday to close at 1,598.03 points, with foreign investors net buying 4.63 billion baht after Fitch Ratings raised its outlook on Thailand's credit rating from negative to stable while affirming the rating at BBB+. Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas said the government will accelerate investment in new industries, the transition to green energy, and maintain fiscal discipline. DAOL Securities analysts said the country's outlook revision should lead banks to have their outlooks raised accordingly, expecting KTB and TTB to have a chance of an outlook upgrade this round, and gave a buy recommendation on KTB with a target of 50 baht, KBANK with a target of 270.00 baht, and TTB with a target of 3.20 baht. Meanwhile, UOB Kay Hian analysts viewed it as a positive factor for domestic play stocks, especially banks and consumer goods. Iara Securities was positive on large banks BBL, KBANK, SCB, and KTB, as well as the technology, AI infrastructure, and renewable energy sectors, namely DELTA, GULF, ADVANC, and TRUE.
KTB.BK · Monetary · Positive DAOL expects KTB to have a chance of an outlook upgrade this round and gave a buy recommendation with a 50 baht target after Fitch revised Thailand's outlook to stable.
TTB.BK · Monetary · Positive DAOL expects TTB to have a chance of an outlook upgrade this round and gave a buy recommendation with a 3.20 baht target after Fitch revised Thailand's outlook to stable.
KBANK.BK · Monetary · Positive DAOL gave KBANK a buy recommendation with a 270 baht target and Iara was positive on KBANK as a large bank after the sovereign outlook upgrade.
BBL.BK · Monetary · Positive Fitch's outlook revision to stable is seen as positive for large Thai banks including BBL, which Iara Securities highlighted as a beneficiary.
SCB.BK · Monetary · Positive Iara Securities was positive on large banks including SCB following the sovereign outlook revision.
Bank stocks surge as UBS raises SCB target to 165 baht, DAOL tips KTB and KBANK as top picks
Thai bank stocks rose sharply, with SCB at 155.50 baht at 14:35 on 21 September 2026, up 3 baht or 1.97%, while KBANK stood at 259 baht, up 6 baht or 2.37%, and KTB at 45.50 baht, up 0.50 baht or 1.11%, after Fitch Ratings revised Thailand's credit outlook from negative to stable and affirmed its BBB+ rating, leaving Fitch, Moody's and S&P Global Ratings all with a stable outlook on Thailand. Analysts at DAOL Securities (Thailand), or DAOLSEC, maintained an overweight weighting on the banking sector, picking KTB with a buy recommendation and a 50.00 baht target and KBANK with a buy recommendation and a 270.00 baht target as their top picks, and expect KTB and TTB to benefit most from the credit outlook revision. Analysts at UBS upgraded SCB to buy from hold and raised its price target to 165.00 baht from 152.00 baht, while lifting 2027-2028 earnings per share forecasts by 2-5% on lower credit cost estimates of 1.55%-1.60%, and kept their forecast for a high dividend payout ratio of 80% for 2026-2027.
SCB.BK · Capital · Positive UBS upgrades SCB to buy from hold and raises its price target to 165 baht on lower credit cost estimates.
KBANK.BK · Capital · Positive DAOLSEC names KBANK a top pick with a buy rating and 270 baht target, and it rose 2.37%.
KTB.BK · Capital · Positive DAOLSEC picks KTB as a top pick with a buy rating and 50 baht target, expecting it to benefit most from the credit outlook revision.
TTB.BK · Capital · Positive DAOLSEC expects TTB to benefit most from Thailand's credit outlook revision to stable.
UBSG.SW · Capital · Positive UBS is the analyst upgrading SCB and raising its target, a positive research action for the bank.
Fitch Upgrades Thailand's Outlook to Stable, Highlights KTB and KBANK as Top Picks on Positive Sentiment
Asia Plus Securities said Fitch Ratings raised Thailand's credit outlook to Stable from Negative while affirming the rating at BBB+. One of the reasons cited was the stability of the government. As a result, the country's outlook from all three credit rating agencies is now at Stable, which not only reflects confidence in Thailand but also reduces the risk of a downgrade in the next period. For commercial banks whose outlooks Fitch downgraded last year in line with its view on Thailand, namely KTB and TTB, there is a chance their outlooks will be raised to Stable in line with Thailand in the next step, making their share prices likely to receive more positive sentiment than the sector. Political stability is reflected in the passage of two financial laws: the emergency decree authorizing 400 billion baht in borrowing, which passed by a vote of 285 to 141, and the 2027 budget bill, which passed by a vote of 338 to 144. These help ensure money continues to flow into the economy and reduce policy uncertainty. The research team is maintaining a Barbell strategy, choosing KTB followed by KBANK on the commercial banking side, while BBL is a catch-up play on valuation at a PBV of 0.6 times versus 1.2 times for the sector. On the other side is the tourism group, focusing on CENTEL, AOT, and ERW, with upside expected if the war eases.
KTB.BK · Capital · Positive Top pick; Fitch's Thailand outlook upgrade raises the chance KTB's own outlook is lifted to Stable.
KBANK.BK · Capital · Positive Chosen as a top commercial-banking pick (after KTB) on positive sentiment from Thailand's outlook upgrade.
BBL.BK · Capital · Positive Named as a catch-up play on valuation at 0.6x PBV versus 1.2x for the sector, a valuation/analyst call.
TTB.BK · Monetary · Positive Fitch upgraded Thailand's outlook to Stable, and TTB, whose outlook Fitch downgraded last year in line with Thailand, may see its own outlook raised to Stable, boosting sentiment.
CENTEL.BK · Demand · Positive Listed in the tourism group (CENTEL) with upside expected if the war eases, an end-demand driver.
ERW.BK · Demand · Positive Listed in the tourism group (ERW) with upside expected if the war eases, an end-demand driver.
DBS Vickers says KTB and TTB benefit as Fitch lifts Thailand's Outlook to Stable, recommends buying SAV with a 14.50 baht target
DBS Vickers named KTB, TTB and SAV as its top picks today, saying the banking group has a positive sentiment after Fitch Ratings raised Thailand's Outlook to Stable from BBB+/Negative, which could lead to Thai banks' Outlooks being revised up as well. It expects KTB, rated buy with a 50 baht target price, and TTB, rated hold with a 3.20 baht target price, to have a chance of an Outlook upgrade in this round, a sentiment that could push their share prices higher. For SAV, flight trends in the third quarter of 2026 are expected to recover well, with July to August 2026 seen growing 8% and 20% year on year, supported by overflight traffic, especially from Vietnam, while the fourth quarter of 2026 is expected to improve further on the high season. It recommends buying with a 14.50 baht target price and expects third-quarter 2026 profit to improve both year on year and quarter on quarter to about 130 to 140 million baht, while 2027 profit still has upside from Airports of Thailand auction work worth about 1.35 billion baht and a high dividend yield of 8.5%.
KTB.BK · Capital · Positive DBS Vickers rates KTB buy with a 50 baht target and sees a chance of an Outlook upgrade after Fitch lifted Thailand's Outlook to Stable.
SAV.BK · Demand · Positive DBS Vickers recommends buying SAV with a 14.50 baht target, citing recovering flight trends (July-August 2026 up 8-20% y/y) and improving profit.
TTB.BK · Capital · Positive DBS Vickers rates TTB hold with a 3.20 baht target and sees a chance of an Outlook upgrade after Fitch lifted Thailand's Outlook to Stable.
Fitch Ratings · Regulation · Neutral Fitch raised Thailand's sovereign Outlook to Stable from Negative, the credit-rating action driving the bank Outlook-upgrade expectations.
Kasikorn Securities flags ESG as turning point for Thai stock profits, names 10 beneficiaries
Kasikorn Securities, or KS, said in a research note that ESG is entering an era in which it genuinely affects financial outcomes, and unveiled 10 stocks set to benefit from the ESG transition. The Stock Exchange of Thailand is preparing to move from SET ESG Ratings to the FTSE Russell ESG Scores framework, with listed companies due to learn their own scores in 2026 and public disclosure beginning in 2027. Preliminary statistics from the 2025 FTSE Russell ESG Scores assessment show that 222 Thai listed companies averaged 3.6 out of 5, placing them at a Good practice level, with the utilities, healthcare, and oil and gas sectors scoring most strongly. KS said ESG development is reaching a regulatory level that will affect profits and ROIC through a carbon pricing mechanism with a pilot price of 200 baht per tonne of carbon equivalent, a planned emissions trading system trial in 2029-2030, the EU CBAM measure, and the IFRS S1/S2 standards and Thailand Taxonomy. A study of SET100 stocks found that high ESG-rated shares do not always trade at more expensive PER or PBV multiples or post higher EPS growth, but that good ESG enhances investability through liquidity and the shareholding of foreign and institutional investors. The case of DELTA, which was removed from the SETESG index, reflects how money from ESG-linked funds affects short-term price volatility. The 10 standout stocks span five themes: renewable energy business expansion, GULF, BCPG and CKP; green industrial infrastructure, WHA and AMATA; ESG data services and carbon management, DITTO and BBIK; sustainable finance, BAY and TTB; and the circular economy, SCGP.
Energy Transition & Power Demand › Solar ▲Regulation
Energy Transition & Power Demand › Nuclear Generation & Utilities Regulation
Energy Transition & Power Demand › Grid, Transmission & Power Equipment Regulation
AMATA.BK · Regulation · Positive Named among 10 ESG beneficiaries under the green industrial infrastructure theme as Thailand moves to FTSE Russell ESG Scores and carbon pricing.
BAY.BK · Regulation · Positive Named among 10 ESG beneficiaries under the sustainable finance theme as ESG regulation increasingly affects profits and ROIC.
BBIK.BK · Regulation · Positive Named among 10 ESG beneficiaries under the ESG data services and carbon management theme tied to new ESG disclosure and carbon rules.
BCPG.BK · Regulation · Positive Named among 10 ESG beneficiaries under the renewable energy business expansion theme as carbon pricing and CBAM favor clean energy.
CKP.BK · Regulation · Positive Named among 10 ESG beneficiaries under the renewable energy business expansion theme as carbon pricing and CBAM favor clean energy.
DITTO.BK · Demand · Positive Named among KS's 10 ESG beneficiaries in the ESG data services and carbon management theme.
TTB pushes Risk-based Pricing to cut retail loan rates to as low as 11.11%
TMBThanachart Bank, or TTB, is pressing ahead with helping borrowers through risk-based pricing. Chief Executive Officer Thakorn Piyapan said that for the Cash to Go loan, customers with good credit will see interest rates cut from 23-24% to just 13%, and more than 80% of customers will get lower rates. Meanwhile, the vehicle registration pledge loan without transferring the title, which was launched in August, carries an interest rate of only 11.11%, down from 24%, and before the end of this year the bank will also launch a cash card loan priced on a risk-based basis. Thakorn said overall retail lending across the industry this year is likely to turn slightly positive at around 1-2%, after contracting last year. Home loans have passed their worst point, and auto loans are starting to show positive signs, but he acknowledged that bringing household debt back to normal levels is difficult because the core problem is that Thai incomes are insufficient. Those earning less than 30,000 baht a month are already considered a vulnerable group, and buying a home in Bangkok remains difficult even on an income of 50,000 baht.
TTB.BK · Pricing · Positive TTB cuts retail loan rates via risk-based pricing (Cash to Go from 23-24% to 13%, pledge loan to 11.11%), a change to its own product pricing.
Fed raises rates by 0.25% to 3.75–4.00%; brokers say it pressures growth stocks, favor banks, insurance, energy
The US Federal Reserve voted unanimously 12–0 to raise interest rates by 0.25% to a range of 3.75–4.00%, its first hike since 2023, and signaled it may raise once more this year. Its latest projections put the year-end 2026 rate at about 4.1%, with 2027 likely holding steady before a possible cut in 2028. Several brokers assess the meeting as negative for the Thai stock market in the short term, because US Treasury yields and the dollar are likely to strengthen, which could pressure foreign capital flows and share prices, especially growth stocks and those with high P/E ratios, amid inflation still above the 2% target and oil prices holding above 100 dollars a barrel, forcing the market to cope with a prolonged period of high interest rates. Tisco Securities estimates the SET will move in a range of 1,570–1,660 points, with support at 1,570–1,580 points and resistance at 1,630 and 1,660 points, and highlights the energy and commodities group such as PTTEP, PTT, SPRC, TOP, IVL, PTTGC, CPF, TFG, GFPT, TVO, SCGP and SCCC; the banking and insurance group such as KBANK, KTB, TTB, BLA and TLI; and the AI, infrastructure and power group such as HANA, AMATA, WHA, GULF, EGCO, ADVANC, TRUE and STECON. Meanwhile, Krungsri Securities favors domestic and defensive plays with clear revenue and cash flow, especially BDMS and BCH, and warns that expensive, rate-sensitive stocks such as DELTA could come under pressure if the Fed signals more sustained rate hikes than the market expects.
BCH.BK · Monetary · Positive Krungsri Securities favors domestic and defensive plays with clear revenue and cash flow, explicitly naming BCH.
BDMS.BK · Monetary · Positive Krungsri Securities favors domestic and defensive plays with clear revenue and cash flow, explicitly naming BDMS.
DELTA.BK · Monetary · Negative Krungsri warns expensive, rate-sensitive stocks such as DELTA could come under pressure if the Fed signals more sustained hikes.
HANA.BK · Monetary · Neutral Listed in Tisco's AI/infrastructure/power group favored under the Fed's rate hike, but no company-specific development.
IVL.BK · Monetary · Positive Named in Tisco's favored energy and commodities group as the Fed's hike and high oil prices support the sector.
KBANK.BK · Monetary · Positive Named in Tisco's favored banking and insurance group as higher rates benefit banks.
Fed raises rates 0.25%, bank stocks shine, Supreme Administrative Court revokes SEC order suspending Chayanee
The US Federal Reserve raised its policy rate by 0.25% as expected, and signalled it may hike once more late this year. The Thai stock market had already priced in the news, and once it was confirmed, shares bounced in response and also on technical factors. Still, some analysts warn investors to brace for another correction in the Thai market, saying the index's earlier slide to around 1,560 points is not yet the bottom and further declines are likely. Meanwhile, bank stocks led by KBANK, KTB, SCB, BBL and TTB remain defiantly strong, reflecting that foreign investors parking money in bank shares are choosing to keep holding, and buying more on dips. TTB rose to around 3.14 baht per share, the same level as its previous resistance at 3.16-3.18 baht, which it has not yet broken through. The latest highest target price is 3.50 baht, from Krungsri Securities, followed by 3.30 baht from Tisco Securities, but the average, or consensus, target is 2.95 baht, below the board price, so caution may be warranted when speculating while the price holds above 3.00 baht. As for GULF, it is putting up a notable fight against the wall to avoid falling below 60.00 baht. Yesterday it fell to a low of 60.25 baht, then rallied in the afternoon to hold the price and return to 61 baht, but the chart and technical signals suggest it wants to drop below 60 baht, with the next support at 58.50 baht and the deepest support at 56.00-54.50 baht. On 15 September, the Supreme Administrative Court upheld the Central Administrative Court's ruling revoking the SEC's order suspending Chayanee Pokhanngern, a capital market professional who is now a senior executive at Kingsford Securities, from duty for one year, ruling that the order was unlawful. The case stemmed from the SEC's view that Chayanee gave false statements during an investigation into insider trading in BSEC shares, leading to the suspension order from 4 August 2017 to 3 August 2018. The next issue to watch is whether she will sue the SEC back, because there are whispers that if she does, damages could reach as much as 300 million baht.
TTB.BK · · Positive TTB is cited among strong bank stocks as foreign investors hold and buy on dips, with TTB rising to around 3.14 baht.
GULF.BK · · Negative GULF is described as fighting to hold above 60 baht with technical signals pointing to a drop below 60 and deeper supports at 58.50 and 56.00-54.50 baht.
KSS flags safe-haven stocks as Fed rate hike lifts banks, insurers and hospitals on high bond yields
Analysts at Krungsri Securities, or KSS, assess that this meeting of the US Federal Reserve is likely to raise the policy rate by 0.25% in what is being called an Insurance Rate Hike, a pre-emptive move. The market has already priced in about 92% odds of a hike this round, so the bigger driver for the market is the direction of the Dot Plot, along with inflation projections and the number of remaining rate increases ahead. KSS believes that if the Fed signals a pause to assess more economic and inflation data, the stock market could see a short-term rebound, or Relief Rally, with domestic and defensive stocks drawing more attention, especially hospitals such as Bangkok Dusit Medical Services, or BDMS, and Bangkok Chain Hospital, or BCH. If instead the Fed signals continued rate hikes beyond market expectations, that would pressure stocks with high valuations that are sensitive to bond yields, such as Delta Electronics (Thailand), or DELTA. Meanwhile, Phillip Securities (Thailand), or PST, assesses that the Thai stock market is likely to move sideways down in the short term on investors reducing risk ahead of the Fed meeting outcome, with the 2-year bond yield rising to 4.69% while the 10-year yield climbed to 5.04%, the highest levels since 2024 and 2007 respectively. As for Thai stocks that benefit from interest rates holding at a high level, the research team names the banking group: TMBThanachart Bank, or TTB, Kasikornbank, or KBANK, SCB X, or SCB, Kiatnakin Phatra Bank, or KKP, and Tisco Financial Group, or TISCO. In the insurance group: Bangkok Life Assurance, or BLA, Thai Life Insurance, or TLI, and Dhipaya Group Holdings, or TIPH.
TTB Joins Forces with OR to Launch Thailand's First Fleet Card Combining Fuel and EV Charging in One Card
TMBThanachart Bank, or TTB, has partnered with PTT Oil and Retail Business, or OR, to launch the ttb fleet card, the first card in Thailand to combine fuel purchases at PTT Station service stations and electric vehicle charging through the EV Station PluZ charging network in a single solution. Kanokporn Chutha, Head of TTB Business Product Management, and Piman Puengsri, Senior Executive Vice President of OR's Oil Retail Business, jointly developed and expanded this product. The ttb fleet card allows business customers to track, monitor, and control energy expenses in real time, and to set card usage permissions themselves through the ttb web fleet portal, increasing transparency and reducing paperwork. It supports both internal combustion engine vehicles and electric vehicles, as well as the Top Up Card, Top Up Plus Card, and Privilege Card products. The ttb fleet card is also part of TTB's Total Business Car Solutions, which covers everything from vehicle procurement and liquidity enhancement to risk management and energy cost management.
OR.BK · Demand · Positive OR partners with TTB to launch Thailand's first combined fuel and EV-charging fleet card, expanding its PTT Station and EV Station PluZ customer offerings.
TTB.BK · Demand · Positive TTB launches the ttb fleet card with OR, a new business product that expands its Total Business Car Solutions customer offering.
TTB partners with Webull to launch "My Wealth" for US stocks and ETFs via ttb touch
TMBThanachart Bank, or TTB, has launched its "My Wealth" service through the ttb touch application, partnering with Webull to let customers invest in US stocks and ETFs. Kanokwan Phetpisitchot, Head of the Bank Transaction Products and Financial Wealth Management Group at TTB, said Thais hold deposits equal to 57% of their financial assets, while investment assets account for only 23%, below the global average of 45% and the US figure of 59%. Naris Aruksakulwong, Head of the Strategy and Digital Group at TTB, said the money management market offers three main options. Mobile banking has roughly 150 million accounts in total and combined AUM of about 15 to 16 trillion baht. Retail securities trading accounts in the Thai stock market number fewer than 5 million, with combined AUM of only 3.4 trillion baht. Alternative investment platforms have about 3 million users and combined AUM of only 300 billion baht. In the past quarter, the bank's investment income grew at a double-digit rate year on year, driven by a policy interest rate of about 1%, which has set off a flow of funds from deposit accounts into investment accounts. TTB sees an opportunity in the Mass Affluent segment, or MAF, with assets of under 1 million baht, which currently has a base of about 6,000 customers and combined AUM of more than 280 billion baht. The bank expects at least 50% of its 600,000-strong customer base to start using "My Wealth". Chonladech Khemarattana, Chief Executive Officer of Webull Securities (Thailand) Company Limited, or Webull, said Thai investors are increasingly interested in global investing, especially in diversifying their portfolios into overseas markets and leading global companies in technology and innovation, with the US market remaining one of the key markets drawing interest from investors worldwide.
Digital Finance & Tokenization › Digital Wealth & Robo-Advisory Competition
TTB.BK · Demand · Positive TTB launches 'My Wealth' via ttb touch with Webull, expecting at least 50% of its 600,000 customers to use the new investment service.
BULL · Demand · Positive Webull partners with TTB to launch 'My Wealth', giving it access to TTB's 600,000 customers for US stocks and ETFs.
Kasikorn Research Center says 30,000-baht earners are the new vulnerable group
Kasikorn Research Center reported that Thailand's economy will expand by only 1.7% in the second half, slowing from 2.4% in the first half, and is expected to grow 2% for the full year, in line with its previous forecast. Dr. Lalita Thienprasiddhi, head of research, said purchasing power remains fragile and weak because high energy prices and El Nino have affected food prices. Dr. Kanchana Chokpaisarnsilp estimated that total credit in 2026 will grow by only 0.5%, and that the commercial banking system's non-performing loans could rise from 2.76% at the end of the second quarter of 2026 to a range of 2.80-3.00%. Thakorn Piyapan, chief executive of TMBThanachart Bank, said households earning less than 30,000 baht a month have become the new vulnerable group, especially in Bangkok, and are increasingly likely to be denied credit. Bank of Thailand Governor Vitai Ratanakorn said SME loans have been negative for 16 consecutive quarters and the share of zombie businesses has risen from 2.7% in 2013 to 5.7% in 2024. Brent crude oil on September 11, 2026 traded near 108 dollars a barrel and West Texas near 102 dollars amid Middle East conflict. Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas is pushing to finalize the extension of the Thai Chai Thai Plus Phase 2 by the end of September, with 26 million users of the program plus 13 million state welfare card holders, about 40 million people in total. Operators including Siam Global House, Maguro, Ichitan and Osotspa are all adjusting their strategies. Siam Global House is keeping its plan to open at least 6-8 branches a year. Maguro is accelerating expansion of its 14 brands while competitors are weak. Osotspa has reformulated its energy drink to 5 grams of sugar per bottle and is upgrading its factory in Ayutthaya to a fully automated system, reducing its reliance on 200-300 workers. Ichitan is focusing on 10-baht products and 1-liter sizes. Meanwhile, the property market has hundreds of thousands of unsold units, forcing operators to hold clearance sales at reduced prices and sell off assets.
ttb Joins Forces with Schroders and Eastspring to Launch Global Wealth Solutions in Response to Volatility
TMBThanachart Bank Public Company Limited, or ttb, together with ttb Wealth Securities Company Limited, hosted an Exclusive ttb wealth event under the theme How to Survive Global Turbulence and Thailand's Lost Decade, joining forces with global partners Schroders and Eastspring Asset Management (Thailand) to present wealth management approaches and global investment opportunities through its Wealth Ecosystem, and to launch a global investment solution for UHNW clients seeking to invest in overseas markets. Pitiphan Tantakasem, Chief Executive Officer of ttb, noted that data from Goldman Sachs shows Thai investors still have a high Home Bias, with overseas assets accounting for only about 10% of total investable assets, lower than many countries in emerging and developed markets. Katherine Cox of Schroders said the partnership lays a long-term foundation, noting that Schroders has more than 200 years of experience and manages total assets of more than 1.1 trillion US dollars. Meanwhile, Petr Kocourek revealed the results of the Schroders Global Investor Insights Survey 2026, showing that 85% of institutional investors globally and 87% in the Asia-Pacific region expect markets to be more volatile over the next 12 months. ttb Wealth, together with Schroders, developed the ZEAL Global Portfolio Allocation as a Core Portfolio Solution for Ultra High Net Worth clients with a minimum investment of 10 million baht and above, while Eastspring developed the ES-MAGIC fund as an Exclusive fund open only to ttb Wealth clients. Clients can also combine the total assets under specified products from both organizations under a single Wealth Ecosystem to receive benefits through ttb privilege at the Reserve Gold, Reserve Platinum, and Reserve Diamond tiers.
TTB.BK · Demand · Positive ttb launches global wealth solutions and a new UHNW investment offering with Schroders and Eastspring, expanding its wealth-management products.
SDR.LSE · Demand · Positive Schroders partners with ttb to develop the ZEAL Global Portfolio Allocation core solution for UHNW clients.
Eastspring Asset Management (Thailand) Company Limited · Demand · Positive Eastspring develops the ES-MAGIC exclusive fund open only to ttb Wealth clients.
TTB Wealth Securities Co., Ltd. · Demand · Positive ttb Wealth Securities co-hosts the event and helps distribute the new global wealth solutions to clients.
Bank of Thailand advances 3 mechanisms to unlock SME credit, targeting 200 billion baht in new loans per year
The Bank of Thailand is preparing to advance three key mechanisms to unlock credit for small and medium-sized enterprises, with measures to be rolled out gradually from December 2026 through 2027. They include the launch of a Credit Portal in December as a central platform to solve the problem of matching lenders with potential customers; a new credit guarantee mechanism that draws money from the Financial Institutions Development Fund, or FIDF, to set up a guarantee fund alongside the Thai Credit Guarantee Corporation, or TCG; and the use of alternative data such as water and electricity bills and e-Statements to analyse debt-servicing capacity. For this new credit guarantee mechanism, the Bank of Thailand aims to help extend 100 billion baht in loans per year, which combined with the TCG mechanism's another 100 billion baht per year will result in a total of 200 billion baht in new loans entering the system each year. The Bank of Thailand plans to submit the details to the Minister of Finance for consideration within three to four months, with operations expected to begin in 2027. DAOL Securities Thailand, or DAOL, assesses that this new round of measures will encourage banks to lend more to SMEs and will bring down the NPL trend for the SME segment. The project is a continuation of assistance from the SME Credit Boost programme launched in late 2025, which by the second quarter of 2026 had extended about 60 billion baht in loans, or 70% of the total credit line. Every additional 100 billion baht in new loans will raise total system credit by about 1%. Currently the bank with the largest share of SME loans is KBANK at 24%, followed by SCB at 15%, BBL at 15%, KTB at 10% and TTB at 7%. DAOL maintains an overweight stance on the banking sector, picking KTB with a target price of 50.00 baht and KBANK with a target price of 270.00 baht as its top picks, and expects KBANK to benefit most from this news.
KTB.BK · Monetary · Positive DAOL maintains overweight on banking and picks KTB, which holds 10% of SME loans and benefits from the 200bn baht annual SME credit boost.
KBANK.BK · Monetary · Positive KBANK is the largest SME lender at 24% share, so BoT's new credit guarantee and portal mechanisms should lift its SME loan volumes and reduce NPLs.
BBL.BK · Monetary · Positive BBL holds 15% of SME loans and stands to gain from BoT's credit-unlocking measures that boost SME lending and lower SME NPLs.
SCB.BK · Monetary · Positive SCB holds 15% of SME loans and is positioned to expand SME lending and see lower SME NPLs under the BoT measures.
TTB.BK · Monetary · Positive TTB holds 7% of SME loans and should benefit from the BoT's credit guarantee fund and alternative-data credit assessment for SMEs.
TTB partners with Schroders to elevate wealth services for HNW and UHNW clients
TTB has announced a strategic partnership with Schroders, a global asset management and wealth management firm with more than 200 years of experience, to strengthen its Wealth Ecosystem under the concept of Holistic Wealth Solutions for High Net Worth and Ultra High Net Worth clients. TTB Wealth Securities is the strategic partner for selecting investment solutions, asset allocation, and professional portfolio management. Pitiphat Tantakasem, Chief Executive Officer of TTB, said this collaboration is another important step in elevating holistic wealth management designed to suit each individual. Saran Phupat, Chief Executive Officer of TTB Wealth Securities Public Company Limited, said the heart of this collaboration is the establishment of a Joint Investment Forum between Schroders and TTB Wealth to exchange knowledge, analyze global market trends, develop views on Global Asset Allocation, and jointly develop Discretionary Investment Solutions for Private Wealth clients, starting with a Global Multi-Asset portfolio. Katherine Cox, Head of Client Group, South Asia & Global Official Institutions at Schroders, said long-term wealth success comes from building investment portfolios that are flexible, resilient to volatility, and appropriately diversified, and emphasized that Schroders is pleased to be a strategic partner with TTB Wealth to support Thai investors in achieving their long-term financial goals.
SDR.LSE · Demand · Positive Schroders becomes strategic partner to TTB Wealth, providing investment solutions and joint discretionary portfolio development for Thai clients.
TTB.BK · Demand · Positive TTB partners with Schroders to strengthen its wealth management offering for HNW/UHNW clients, expanding its wealth services.
TTB Wealth Securities Co., Ltd. · Demand · Positive TTB Wealth Securities is the strategic partner selecting investment solutions and managing portfolios under the new Schroders collaboration.
ttb partners with Trip.com to offer 1 extra reward point for every 2 baht spent on accommodation bookings
ttb credit cards have teamed up with Trip.com, a leading online travel platform, to offer a seasonal travel privilege to holders of ttb so fast, ttb absolute, ttb Global House and ttb Disney credit cards. Cardholders will earn 1 extra ttb rewards plus point on top of the normal points for every 2 baht spent when they book and pay for hotels and accommodation worldwide, on bookings of 5,000 baht or more per transaction, through the link https://th.trip.com/w/ttbbonuspoint. Bookings can be made from 10 September 2026 to 31 December 2026, with stays from 10 September 2026 to 28 February 2027, and cardholders can earn unlimited extra reward points throughout the campaign. In addition, ttb credit card holders can choose to split payments with 0% interest for 3 months through the ttb so goood service when their spending is 1,000 baht or more per receipt, via the ttb touch app. Spending transactions made through the ttb so goood instalment plan will still earn the extra reward points under the promotion.
9961.HK · Demand · Positive Trip.com partners with ttb to attract Thai cardholders booking hotels through its platform, boosting bookings.
TTB.BK · Demand · Positive ttb credit cards partner with Trip.com to offer extra reward points on accommodation bookings, driving card usage and spending.
Webull Thailand Clarifies Negative News, Affirms Transparency, Proceeds with Legal Action Against Media
Mr. Chonladech Khemaratana, Chief Executive Officer of Webull Thailand, revealed that the company is pursuing criminal charges and seeking damages from media outlets that accused the company of accepting deposits outside the system, not performing KYC, and being an illegal bank. He affirmed that the allegations are false and that the company has passed inspections by the SEC and AMLO. The news caused fewer than 10 partners under discussion to temporarily suspend relations, about half of them, but key partners such as True Money and TTB continue their collaboration. Webull also pointed out that the SEC's approval for it to acquire a major stake in Pi reflects transparency, and the company recently received an award from the Cyber Police. Webull Group is registered in the US, does not operate in China, and has branches in four Southeast Asian countries, including Thailand.
BULL · Regulation · Positive Webull Thailand denies false allegations, notes SEC and AMLO inspections passed, and is suing media outlets, defending its regulatory standing.
Pi Securities Public Company Limited · Regulation · Positive The SEC's approval for Webull to acquire a major stake in Pi is cited as evidence of transparency, a positive regulatory signal for Pi.
TTB.BK · Competition · Positive TTB is named as a key partner that continues collaborating with Webull despite the negative news, unlike some suspended partners.
Webull targets AUM of 200 billion baht after acquiring Pi
Webull Thailand has announced its strategic plan following the completion of its acquisition of Pi Securities Public Company Limited (Pi) at a 99.36% stake, with a total value exceeding 100 million US dollars, or approximately 3.2 billion baht. The company aims to boost its assets under management (AUM) to 200 billion baht by next year. Currently, Pi Securities has an AUM of around 100 billion baht, while Webull Thailand has an AUM of approximately 20 billion baht, with a target to increase it to 40 billion baht by the end of 2026. If these targets are met, Webull Thailand will become the second-largest branch globally in terms of AUM among 18 countries, after the United States. The company will continue to operate its business separately under the original brands for about one year, with no policy to reduce front-office staff or cut compensation. Instead, it will focus on developing skills to upgrade Pi's investment consultants (ICs) to relationship managers (RMs). It also aims for Pi to return to profitability next year and break even within five years. For retail clients, Webull plans to partner with TMBThanachart Bank (TTB) and TrueMoney to launch US stock trading services on the ttb touch and TrueMoney Wallet apps on September 9. Meanwhile, the company is focusing on the TISA project as a flagship initiative next year. It also reaffirms its transparency after being accused, having filed criminal and civil defamation lawsuits against media outlets that spread rumors. It has also received an honorary plaque from the Technology Crime Suppression Division and the Central Investigation Bureau to confirm its integrity.
TTB.BK · Demand · Positive Webull plans to partner with TMBThanachart Bank (TTB) to launch US stock trading services on the ttb touch app, a new product distribution channel for TTB.
Ascend Money · Demand · Positive Webull plans to partner with TrueMoney (Ascend Money) to launch US stock trading services on the TrueMoney Wallet app.
TTB Partners with DBS to Take Over Baht Investment Portfolio, Boosting Revenue
TMBThanachart Bank, or TTB, is fully launching its Wealth Management game by taking over the baht-denominated investment portfolio from DBS Vickers Securities (Thailand), or DBSVT, into TTB Wealth, under a business alliance with DBS Bank, the largest bank in Southeast Asia by assets. This is not a purchase of the client portfolio. The transfer process will begin contacting clients from August 31, 2026, and is expected to be completed by May 2027, which will allow revenue from securities trading of the transferred portfolio to be recognized within the TTB group. Meanwhile, TTB will select DBS's international financial products to offer to Thai clients and use DBS's direct remittance network for five major Asian currencies to reduce costs and increase the speed of cross-border transactions. CEO Piti Tantakasem emphasized that TTB is not participating in the Virtual Bank business because it sees that the model in Thailand still lacks a clear pain point. As for ING reducing its stake in TTB to 11.6%, this does not reflect a decline in interest in Thai banks but is part of ING's investment strategy.
TTB.BK · Demand · Positive TTB takes over DBSVT's baht-denominated investment portfolio into TTB Wealth, adding securities-trading revenue and clients
TTB.BK · Capital · Positive Alliance with DBS lets TTB use DBS's remittance network for five Asian currencies to cut costs and speed cross-border transactions
INGA.AS · · Neutral ING's stake reduction in TTB to 11.6% is described as part of ING's investment strategy, not a loss of interest in Thai banks
4 Bank Executives: Thai Finance Moves Toward Digital Trust to Attract Global Capital
At The Bangkok Business Summit 2026 seminar, four top bank executives outlined the next steps for Thailand's financial system, pointing out that the transition to the digital era must focus on building digital trust to attract investment and drive the economy. Dr. Pitti Tantaksem, Chief Executive Officer of TMBThanachart Bank, said Thailand has succeeded in shifting payments to digital, with PromptPay transactions averaging over 100 million per day, but faces fraud risks. Therefore, a decentralized data infrastructure is needed to reduce the cost of trust, which currently accounts for up to 50% of revenue. Meanwhile, Mr. Siam Prasitsirikul from Bank of Ayudhya discussed the PromptBiz platform, which helps SMEs access credit faster and is expected to boost GDP growth by an additional 1% to 2% per year. Dr. Kobkarn Pootrakul, Executive Vice President of Bangkok Bank, revealed the direction and next steps for driving the market and financial system, noting that the share of foreign direct investment (FDI) flowing into ASEAN has risen from 4% a decade ago to nearly 20% today. Meanwhile, Thailand's investment promotion applications to the Board of Investment (BOI) surged to 2 trillion baht last year and are expected to reach 2.5 to 2.8 trillion baht this year. Mr. Thanyapong Thammavaranukup from Ascend Money spoke about the growth of virtual banks, with the Bank of Thailand opening applications for licenses for the first time in over 20 years, granting licenses to three entities, which face the challenge of building consumer trust without physical branches.
7 Banks to Pay Dividends in September 2026, KKP Highest at 3.25 Baht
Seven banks and financial institutions have announced dividend payments for September 2026, with KKP paying the highest at 3.25 baht per share. Meanwhile, TISCO, SCBX, BBL, and KBANK will pay 2.00 baht per share, TTB will pay 0.081 baht, and BAY will pay 0.60 baht. The ex-dividend (XD) dates are set between September 7-9, with dividend payments scheduled between September 21-25, 2026.
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