In today’s briefing:
- Bank Of Ayudhya (BAY TB) – Thai Retail Wizard Moving to ASEAN
Bank Of Ayudhya (BAY TB) – Thai Retail Wizard Moving to ASEAN
- Bank Of Ayudhya (BAY TB), now branded as Krungsri, is a unique Thai bank with high-quality retail exposure, a low-risk corporate loan book, and a growing SME book.
- The bank is growing its digital exposure through its KMB app, its GO app for auto customers plus its UChoose lifestyle app and it collaborates with Grab and Shopee.
- Krungsri’s move to acquire Nomura Thailand’s broking business and its acquisition of Home Credit in Indonesia and the Philippines provide an additional edge and ASEAN exposure. Valuations are inexpensive.
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