TCAP second-quarter 2026 profit surges 28%, brokers lift target to 97 baht

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Summary · why it matters

Thanachart Capital Public Company Limited, or TCAP, reported second-quarter 2026 net profit of 2.64 billion baht, up 28% from a year earlier and 24% from the previous quarter, beating market expectations by 25%. The strong result was driven by high dividend income of 797 million baht and a sharp 79% year-on-year drop in provisioning expenses, reflecting improved asset quality at Ratchathani Leasing Public Company Limited, or THANI. In addition, TMBThanachart Bank Public Company Limited, or TTB, and Thanachart Insurance Public Company Limited both delivered better-than-expected earnings. Thanachart Insurance saw profit rise 57% on investment gains, while T-Life Assurance Company Limited posted a 137% profit jump thanks to higher dividend income. Analysts at Dao Securities Thailand Public Company Limited raised their 2026 and 2027 net profit forecasts by 8% and 7% respectively, putting 2026 net profit at 8.88 billion baht, up 15% from the prior year. They maintained a buy rating and lifted the target price to 97 baht from 82 baht, based on 1.2 times 2026 book value, and forecast a 2026 dividend of 3.60 baht per share, implying a yield of about 4%, with potential for a higher payout if no share buyback occurs.

Impact on assets 3

Financials▲ · 2 stocks
Climate Adaptation & Water▲ · 1 stocks

Off-coverage companies 2

Thanachart Insurance Public Company LimitedPrivate▲ Positive
Capitalrelevance

Profit rose 57% on investment gains

T Life Assurance Public Company LimitedPrivate▲ Positive
Capitalrelevance

Profit jumped 137% on higher dividend income

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