Pittaya Vorapanyasakul, Chief Executive Officer of Krungthai Card Public Company Limited (SET: KTC), revealed that in 2026, KTC is ready to maintain the strength of its loan portfolio, continuously increase reasonable credit card spending among members, and invest in digital technology.
The company has begun implementing a new core system to enhance flexibility and elevate the customer experience, supporting growth in its two main businesses: credit cards and personal loans, while also expanding to insurance brokerage for sustainable income generation.
KTC’s group continues to emphasize prudent and cautious business operations, closely monitoring various situations to efficiently manage comprehensive risk using advanced data analytics systems to maintain debt quality and long-term financial stability.
In 2026, the company will report a higher net profit than in 2025. The total loan portfolio will grow around 1-2% with NPL controlled below 2%. Credit card spending will increase by 5% and the personal loan portfolio by 2%. However, if the Thai economy proves robust this year, KTC is confident that growth will surpass forecasts, Pittaya stated.
For 4Q25 results, net profit was THB 2,075 million, an increase of 10% from 4Q24 and 6% from 3Q25. This led to a net profit for 2025 of THB 7,782 million, up 4.63%.
These key financial figures reflect the strength of KTC’s credit management and digital transformation strategies, leading to continuous growth in revenue and profit, while maintaining a loan portfolio value of THB 112 billion and keeping the non-performing loan (NPL) ratio within the 2% target range.
Although the overall consumer credit industry has contracted due to economic uncertainty and more cautious consumer spending, KTC’s operations over the 11 months of 2025 have maintained and increased market share compared to the same period in 2024. The proportion of credit card spending reached 13.6%, up from 13.1%, while the proportion of credit card receivables compared to the industry stood at 14.9%, up from 14.3%. The proportion of personal loan receivables (excluding vehicle title loans) compared to the industry was 4.2%, up from 4.1%, added Pittaya.
As of December 31, 2025, KTC had 3,673,244 accounts. Loans to customers and accrued interest totaled THB 111,585 million, up 0.4%. The NPL ratio stood at 1.79%. Credit card memberships totaled 2,964,426 cards, up 5.9%. Loans and accrued interest from credit cards were valued at THB 73,876 million, a slight decrease of 0.1%. Credit card spending grew 3.6% in 2025, with the NPL ratio for credit cards at 1.09%.
Personal loan memberships stood at 708,818 accounts, up 2.9%, resulting in loans and accrued interest of THB 36,202 million, an increase of 3.2% (including KTC Big Loan auto-backed loans). The personal loan NPL ratio was 2.55%. Lease receivables stood at THB 1,507 million, a decrease of 28.6%, in line with the company’s policy to stop issuing this type of loan since August 2023. The company is now focusing on debt collection and managing the existing loan portfolio only.
Additionally, credit cost was at 5.3%, down from 6.1% year-on-year. Regarding liquidity, KTC had unused short-term credit lines totaling THB 20,470 million, with long-term bond and loan obligations due in 2026 totaling THB 15,830 million, reflecting liquidity that exceeds upcoming obligations and a strong position with minimal short-term default risk.
Pittaya said that the progress in insurance brokerage (non-life and life insurance) operations has begun, with KTC now partnering with insurance companies to offer a variety of insurance products through its channels.
Krungsri Securities maintains a “Buy” recommendation for KTC with a target price of THB 42, citing a strong balance sheet, especially a high coverage ratio at 425%, an attractive dividend yield of 6%, and benefits from declining interest rates. Net profit in 2026 is expected to hit a new high of THB 7,984 million, up 2.59% from 2025. KTC is also in the process of developing its insurance sales business, which will further drive future revenue.
