Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Thematic (Sector/Industry)

Thailand Financials / Thematic (Sector/Industry)

<ul><li>The combined 1Q25E net profit of the six banks under our coverage is expected at Bt44bn, a slight increase YoY due to lower provisioning being offset by weaker loan portfolios and narrower NIM.</li><li>However, it should improve QoQ, bolstered by a recovery in loan growth along with lower provisions and expenses.</li><li>We maintain an Overweight rating on the banking sector, expecting credit costs to normalize. </li></ul>

The combined 1Q25E net profit of the six banks under our coverage is expected at Bt44bn, a slight increase YoY due to lower provisioning being offset by weaker loan portfolios and narrower NIM.However, it should improve QoQ, bolstered by a recovery in loan growth along with lower provisions and expenses.We maintain an Overweight rating on the banking sector, expecting credit costs to normalize. 

Banking - Expect 1Q25E Banking Sector Profit to Increase YoY and QoQ