Bualuang: loans at 7 banks flat MoM at end-August, up 3.4% YoY

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Summary · why it matters

Bualuang Securities reported that the combined loans of the seven banks it tracks stood at 10.9 trillion baht at the end of August, flat month-on-month and up 3.4% year-on-year. The increase was led by KTB, up 0.3% on government-sector lending; TISCO, up 0.3% on business and SME loans; TTB, up 0.2%; and KBANK, up 0.2% on business loans. Meanwhile, BBL fell 0.7%, KKP dropped 0.6%, and SCB slipped 0.1%. Total deposits rose 0.5% to 13.2 trillion baht, led by TISCO, TTB, and KTB. Combined loans at the end of September are expected to remain flat as banks stay strict on loan approvals amid a slowing economy, though full-year 2026 loans could come in about 1–2% above the previous assumption, with KBANK, KKP, and KTB likely to exceed estimates by 1–2%, while TTB faces a similar degree of downside risk. On earnings for July–August, TTB and TISCO look set to stand out year-on-year, with TTB up 11%, TISCO up 9%, KBANK up 7%, KKP up 6%, and KTB up 2%, while SCB was flat and BBL fell 19%. Bualuang Securities maintained an equal-weight stance on the banking sector, seeing early signs of improvement in loans and the potential for clearer momentum in the fourth quarter of 2026.

Impact on assets 7

Financials▲ · 5 stocks
TMBThanachart Bank Public Company Limited
TTB
▲ PositiveCapitalrelevance

TTB's loans rose 0.2%, deposits were among the leaders, and July-August earnings are expected to rise 11% YoY, though it faces downside risk to 2026 loan estimates.

Digital Finance & Tokenization▼ · 2 stocks
Bangkok Bank PCL
BBL
▼ NegativeCapitalrelevance

BBL's loans fell 0.7% MoM and July-August earnings dropped 19% YoY, the weakest among the tracked banks.

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