BAM expects profit to accelerate in the second half of 2026, target price 9 baht

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Yuanta Securities expects net profit of Bangkok Commercial Asset Management, or BAM, to accelerate markedly in the second half of 2026. It forecasts second-quarter 2026 net profit at 263 million baht, down 79.7 percent from a year earlier but up 21.2 percent from the previous quarter, supported by net interest income expected to rise 10.6 percent quarter-on-quarter and non-interest income expected to grow 13.6 percent from recovering sales of NPL and NPA assets, although provisioning is set to increase 12.9 percent from the prior quarter partly to cover a large bad-debt purchase from SCB worth around 6 billion baht. The research team maintains its full-year 2026 net profit forecast at 1.655 billion baht, down 8.7 percent from the previous year, and keeps a buy recommendation with a 2027 target price of 9 baht per share, implying 29.5 percent upside and an expected dividend yield of 6.6 percent.

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SCB X Public Company Limited
SCB
± MixedCapitalrelevance

BAM's large bad-debt purchase from SCB worth ~6 billion baht is mentioned, but impact on SCB is not detailed.

Off-coverage companies 1

Yuanta Securities (Thailand) Company LimitedPrivate± Mixed
relevance

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