Tisco Positive on KTC's WIN Acquisition to Cut Costs and Boost KTB Group

Kaohoon··TH·Read original
2▲2 ▼0Impact / 5
Summary · why it matters

Analysts at Tisco Securities view positively the acquisition of Win Performance (WIN) by Krungthai Card (KTC) at 100% for 295 million baht. They believe the purchase price is not high compared to KTC's net profit in the first half of 2026, which is approximately 4.4 billion baht. This acquisition will support operating cost management, create new revenue sources, and strengthen asset quality maintenance. Meanwhile, TTBS Well Securities sees a slight positive, as WIN derives more than 90% of its debt collection from KTC. This deal will enhance cost efficiency and clearly reduce fee burdens. They estimate an upside to KTC's net profit of about 1-2% and maintain a Buy recommendation with a base price of 44.00 baht.

Impact on assets 2

Financials▲ · 2 stocks
Krungthai Card PCL
KTC
▲ PositiveCapitalrelevance

KTC's 295M baht acquisition of WIN is seen as cheap vs its ~4.4B baht H1 profit, boosting cost efficiency and adding 1-2% to net profit.

Off-coverage companies 1

บริษัท วินเพอร์ฟอร์มานซ์ จำกัดPrivate▲ Positive
Capitalrelevance

Win Performance is being acquired 100% by KTC for 295 million baht, with over 90% of its debt collection derived from KTC.

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