Krungsri Securities recommends buying shares of TMBThanachart Bank, or TTB, with a 2027 target price of 3.50 baht. It expects ROE to improve in 2026-2027, driven by net profit growth of 3% year on year in 2026 and 1% year on year in 2027. It also expects an increase in dividend payout to 70-75% in 2026-2027, which would put the dividend yield at 5% per year. Meanwhile, a share buyback program still has 14 billion baht remaining through 2028. For third-quarter 2026 results, Krungsri research expects TTB to post net profit of 5.40 billion baht, up 2% year on year on a 29% rise in non-interest income. Compared with the previous quarter, however, net profit would fall 2% because operating expenses rose on higher IT costs. For fourth-quarter 2026, profit is expected to increase year on year on fee and service income, especially from the wealth segment, but to decline quarter on quarter on higher operating expenses. Total loans are expected to be flat, while the NPL ratio is expected to rise quarter on quarter amid uncertainty over the economic recovery.
TMBThanachart Bank Public Company LimitedKrungsri Securities recommends Buy with a 3.50 baht target, expecting ROE improvement, 3%/1% net profit growth, and a 5% dividend yield in 2026-2027.
