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

Equity Bottom-Up

<ul><li>We maintain our Outperform rating, expecting 4Q24E earnings to recover QoQ.</li><li>This may have been driven by improved debt collection trends, leading to lower provisions and a reduced NPL ratio.</li><li>THANI remains fundamentally attractive, with the current share price offering 43% upside to its fair value of Bt1.77 (based on a required return of 8.3%).</li></ul>

We maintain our Outperform rating, expecting 4Q24E earnings to recover QoQ.This may have been driven by improved debt collection trends, leading to lower provisions and a reduced NPL ratio.THANI remains fundamentally attractive, with the current share price offering 43% upside to its fair value of Bt1.77 (based on a required return of 8.3%).

Ratchthani Leasing - Better Asset Quality Developments in 4Q24E