Two brokers have issued analyses of TTB shares. Krungsri Securities recommends buying with a target price of 3.50 baht, expecting ROE to rise in 2026-2027 on net profit growth of 3% and 1% respectively. An increase in dividend payout to 70-75% puts dividend yield at 5% per year, and the remaining share buyback programme of 14 billion baht runs through 2028. Third-quarter 2026 net profit is expected at 5.40 billion baht, up 2% from a year earlier on fee income and FVTPL investment gains, but down 2% from the previous quarter on higher IT expenses. Phillip Securities expects third-quarter 2026 profit of 5.5 billion baht, up 4.4% from a year earlier and 0.3% from the previous quarter. It expects loans may contract 0.2% from the previous quarter, bringing a 1.9% decline from the end of 2025, and may push the NPL ratio back up from 2.9%. Phillip keeps its 2026 profit forecast at 21 billion baht, up 4.1%, and maintains a base price of 3 baht, with a 2026 dividend forecast of 0.16 baht per share, a dividend yield of 5.1%, and 0.19 baht per share in 2027, a yield of 6%. It therefore recommends hold.
TMBThanachart Bank Public Company LimitedTwo brokers diverge: Krungsri raises target to 3.50 baht on ROE/profit growth and buyback, while Phillip recommends hold with a 3 baht base price on loan contraction and rising NPLs.
