CGSI expects 8 banks to post combined Q3 2026 profit of 57.4 billion baht, with KKP seen growing fastest at 32.2%; KBANK picked as top stock

Money & Banking··TH·Read original
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Summary · why it matters

CGS International (Thailand), or CGSI, estimates that the eight Thai commercial banks it covers will report combined net profit of 57.4 billion baht in the third quarter of 2026, down 9.2% from the third quarter of 2025 but up 1.8% from the second quarter of 2026. Within this group, KKP is expected to post the strongest net profit growth at 32.2% year on year, driven by robust fee income across its securities brokerage, investment banking, and KKP Dime platform businesses. TTB is expected to grow the second fastest at 4.6%, while BBL is seen weakening the most, down 24.5%, and KTB is expected to fall 16%. Overall group loans are forecast to grow 4.4% year on year and 0.2% quarter on quarter, with net interest margin at 2.89%, down 29 basis points from a year earlier, and the non-performing loan ratio expected at 3.66%. CGSI maintains a Neutral weighting on the banking sector and selects KBANK as its top pick, citing fee income from its wealth business at as much as 18% of non-interest income in 2025 and an expected dividend yield of 6.2% in 2026, above the sector average of 5.6%.

Impact on assets 5

Financials± Mixed · 4 stocks
Digital Finance & Tokenization▼ · 1 stocks
Bangkok Bank PCL
BBL
▼ NegativeCapitalrelevance

CGSI forecasts BBL's Q3 2026 net profit to weaken the most, down 24.5% year on year.

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