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

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We hold a slightly positive view on this transaction as it mitigates the risk of SCB having to recognize an asset impairment.
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SCB has already recorded approximately Bt800mn in expenses related to discontinuing Robinhood services, leaving PPV with a remaining book value of around Bt1bn.
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Our 2024E earnings forecast has incorporated the assumption of a complete write-off of the PPV asset, with an initial settlement value of Bt400mn.
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We hold a slightly positive view on this transaction as it mitigates the risk of SCB having to recognize an asset impairment.


SCB has already recorded approximately Bt800mn in expenses related to discontinuing Robinhood services, leaving PPV with a remaining book value of around Bt1bn.


Our 2024E earnings forecast has incorporated the assumption of a complete write-off of the PPV asset, with an initial settlement value of Bt400mn.



SCB X Plc. - SCB Selling All of Its Shares in Purple Ventures Co., Ltd.

Siam Commercial Bank

SCB X Plc. - SCB Selling All of Its Shares in Purple Ventures Co., Ltd.