Analysts from leading securities firms estimate that Kasikornbank, or KBANK, will report third-quarter 2026 profit of around 13 billion baht. Phillip Securities expects profit of 13.4 billion baht, up 3.4% year-on-year and 1.5% quarter-on-quarter, while nine-month 2026 profit is forecast at 46.9 billion baht, up 6.6% year-on-year, and it maintains its full-year 2026 profit estimate at 53.3 billion baht, up 7.6% year-on-year. Krungsri Securities and Trinity Securities see third-quarter profit lower, in a range of 12.649 billion to 12.7 billion baht, down 2% to 3% year-on-year and 4% to 5% quarter-on-quarter, and expect fourth-quarter profit to soften seasonally. The main supporting factor comes from wealth management fee income growing more than 30% year-on-year through partnerships with global allies, lifting its share to 42% of total fee income, with total fee income expected to grow 15% in 2026 and 16% in 2027, while assets under management are accelerating with 11% growth year-to-date. On dividends, the yield is expected to be a high 5% to 6% per year, with a payout of 15 baht per share expected in 2026 and 16.50 baht per share in 2027, along with the possibility of a special dividend from remaining funds in the share buyback programme. On the negative side, analysts expect non-interest income to weaken 6% quarter-on-quarter from lower FVTPL investment gains as bond yields rise, and the net interest margin to continue declining, while third-quarter loans are expected to contract 0.3% quarter-on-quarter, risking a rise in the non-performing loan ratio from 3.18% in the previous quarter. Provision expenses are expected to stay high at around 158 basis points, near the upper end of the bank's target range, given the need to set aside excess reserves for macroeconomic volatility and rising IT costs. KGI Securities gives a buy rating with a target price of 309 baht, Krungsri Securities gives a buy at 300 baht, Phillip Securities gives an accumulate at 261 baht, and Trinity Securities gives a buy on weakness at 233 baht.
Bank of Ayudhya PCL
KGI Securities (Thailand) Public Company Limited
Trinity Watthana Public Company Limited