KGI Securities stated that second-quarter 2026 results at Bangkok Commercial Asset Management, or BAM, remained weak, with net profit of 234 million baht, up 8 percent quarter-on-quarter but down 82 percent year-on-year. First-half net profit was 451 million baht, down 70 percent from the same period last year. Second-quarter cash collections were 3.5 billion baht, down 25 percent quarter-on-quarter and down 50 percent year-on-year, while first-half cash collections were 6.5 billion baht, down 36 percent, still far from the full-year 2026 target of 17.9 billion baht. Operating expenses rose 8 percent quarter-on-quarter even though revenue did not increase. The research team is reviewing its profit forecasts and target price because first-half net profit accounted for only 26 percent of its full-year profit estimate.
Bangkok Commercial Asset Management Public Company LimitedFirst-half net profit down 70% YoY, cash collections far below target, and KGI revising forecasts downward.
