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Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Thematic (Sector/Industry)

Thailand Banks / Thematic (Sector/Industry)

<ul>
<li>Despite lingering impacts on the Covid-19 infections, the government is unlikely to announce another nationwide lockdown due to economic impacts. The NESDC expects Thailand’s GDP growth to be higher</li>
<li>We expect the sector’s earnings to resume a positive growth of 25% YoY for 2021  (from -32% YoY in 2020), supported by lower provisions and higher fee income. Going forward</li>
<li>The NPL ratio is likely to tick up to 4.2-4.4% for 2021-23 (2020: 4%), partly due to sluggish economic growth and loans under the relief measures turning NPLs.  Despite these</li>
</ul>


Despite lingering impacts on the Covid-19 infections, the government is unlikely to announce another nationwide lockdown due to economic impacts. The NESDC expects Thailand’s GDP growth to be higher
We expect the sector’s earnings to resume a positive growth of 25% YoY for 2021  (from -32% YoY in 2020), supported by lower provisions and higher fee income. Going forward
The NPL ratio is likely to tick up to 4.2-4.4% for 2021-23 (2020: 4%), partly due to sluggish economic growth and loans under the relief measures turning NPLs.  Despite these


Banking Sector: Steady Growth And Compelling Valuation