Krungsri says bank stocks KTB and KBANK look attractive for accumulation after flood-risk selloff

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Krungsri Securities said the flood situation bears watching, with the risk of inundation from dam water releases as of October 1 holding steady from the previous day. Nationwide dam water levels stood at 81%, compared with the October 2021-2025 average of 80.4% and 92% on October 11. The western and eastern regions were highest at 96%, while the central region stood at 88%. The research team assessed risk area by area, citing the case of Amata City Industrial Estate in Chonburi province, where phases 6-9 were partially flooded, causing AMATA shares to swing wildly yesterday. Overall, however, the situation is expected to fall mainly under the scenario of flooding in riverside communities, similar to a normal year, and the risk of rain behind the dams during the short transition from the rainy season to winter in the October 5-8 period still needs monitoring. On the KSS Strategist View, even though the market is still waiting to assess those risks, the bright spot is that the SET has already priced in a 2.7% de-risking after the floods. It therefore maintains its view that the banking group, which was sold off on de-risking earlier, is the main group at 5.2% and looks interesting for re-accumulation, with a focus on KTB and KBANK.

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