In today’s briefing:
- Thai Banks 2Q23 Screener; We Reiterate Our Positive Picks Krung Thai and Ayudhya
Thai Banks 2Q23 Screener; We Reiterate Our Positive Picks Krung Thai and Ayudhya
- Krung Thai remains our pick; it ranks second from top in terms of post-provision profitability, screens well on NPL coverage, funding as well as PBV ratios and PE multiples
- We also like Ayudhya, with its sound pre and post-provision profitability metrics in 2Q23, its sound credit quality metrics and attractive valuations
- Kasikorn has seen its TTM cost of risk remain high, and it is the negative outlier versus its peers; yet Kasikorn’s poor share performance makes it one for the watchlist
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