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>The slowdown in loan portfolio growth poses risk to the target and creates potential downside for the 2024-26E profit forecasts.</li><li>We will revisit our profit estimates, fair value, and rating after meeting with management on November 15, 2024.</li><li>SAWAD reported a 3Q24 net profit of Bt1,301mn (-6.2% YoY, +2.9% QoQ), slightly below market expectations by 2%.</li></ul>

The slowdown in loan portfolio growth poses risk to the target and creates potential downside for the 2024-26E profit forecasts.We will revisit our profit estimates, fair value, and rating after meeting with management on November 15, 2024.SAWAD reported a 3Q24 net profit of Bt1,301mn (-6.2% YoY, +2.9% QoQ), slightly below market expectations by 2%.

SRISAWAD CORPORATION - Lower Provisions QoQ; Loan Growth Likely to Fall Below Target

Srisawad Power 1979

SRISAWAD CORPORATION - Lower Provisions QoQ; Loan Growth Likely to Fall Below Target