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

Equity Bottom-Up

<ul>
<li>Maintain BUY for KBANK with a target price of Bt174.00. KBANK’s 2Q22 net profit came in at Bt10.8bn (+21% YoY, -4% QoQ). Going forward, the bank will focus on cleaning </li>
<li>Analyst meeting We are neutral after attending the analyst meeting on 21 July.  KBANK affirmed that it had adequate reserves to support future growth and withstand uncertainty.</li>
<li>There is potential for credit cost reduction in 2023 if Thai economic growth continues to improve going forward.</li>
</ul>


Maintain BUY for KBANK with a target price of Bt174.00. KBANK’s 2Q22 net profit came in at Bt10.8bn (+21% YoY, -4% QoQ). Going forward, the bank will focus on cleaning 
Analyst meeting We are neutral after attending the analyst meeting on 21 July.  KBANK affirmed that it had adequate reserves to support future growth and withstand uncertainty.
There is potential for credit cost reduction in 2023 if Thai economic growth continues to improve going forward.


Kasikornbank PCL

KBANK : Asset Quality Remains a Priority