Mrs. Pittaya Vorapanyasakul, President and Chief Executive Officer of Krungthai Card Public Company Limited (SET: KTC), disclosed at the Opportunity Day event, held by the Stock Exchange of Thailand, that the company is continuing to pursue sustained growth through 2026, despite ongoing economic volatility.
KTC is confident that the net profit for the year will reach a new record high, surpassing the THB 7.78 billion achieved in 2025. This outlook is underpinned by the first quarter’s net profit of THB 2.17 billion, reflecting the underlying strength of the business and its ability to maintain growth amid challenging macroeconomic conditions.
KTC has set a target for overall portfolio growth in 2026 at 1-2%, with the first quarter already registering growth of 0.7%. Asset quality remains well-managed, as the non-performing loan (NPL) ratio stood at 1.93%. The company is maintaining its full-year NPL target below 2%, notwithstanding a slight increase from the 1.79% recorded at the end of 2025. This reflects proactive risk management and close monitoring of lending quality.
Within the credit card segment, first-quarter spending through KTC cards rose by 3.7%, outpacing the industry’s overall expansion of just 0.7%. The company is targeting full-year growth in credit card spending of 5%.
Meanwhile, the personal loan portfolio posted robust growth of 3.3%, exceeding the full-year target of 2% and surpassing the 3.2% achieved at the end of 2025. Management views this as a positive sign of continued consumer credit demand, even as customers are becoming more cautious in their spending.
Mrs. Pittaya further noted that consumer behavior is changing. While the frequency of transactions has not decreased, the average spend per bill in some categories has declined. Notably, spending per visit at restaurants has fallen to THB 700-800 from around THB 1,000 previously.
Insurance-related spending continues to expand at a double-digit rate, and within travel, there is a growing preference for short-haul trips, such as domestic and intra-Asia travel, over long-haul destinations. Online and marketplace spending continues to stand out, with the number of transactions rising by more than 20% and spending value recording double-digit growth.
KTC’s new insurance brokerage business, launched in mid-November last year, is beginning to see promising results, though its contribution to total revenue remains modest. The company is currently in the process of obtaining a digital insurance brokerage license, which is expected to become a major growth driver in the second half of the year.
At the same time, KTC is expanding sales channels through online platforms, digital initiatives, and a telemarketing team, alongside developing call center staff capabilities to support insurance product offerings.
Meanwhile, the company is undertaking a major upgrade of its Core Payment System, with the launch date postponed from Q2 to early 3Q26 to ensure a smooth migration of systems and databases. The new system will accelerate product development, enable more efficient cloud-based data management, and enhance cost control. KTC is also beginning to integrate AI technology into various solutions to strengthen the company and employee digital capabilities.
Additionally, KTC reaffirms its commitment to delivering appropriate returns to shareholders. The company recently announced a dividend payout of 55% of net profit, up from the previous year, which management considers sustainable over the long term.
While some have inquired about raising the payout ratio to 80%, there are currently no plans for such an increase, nor for an interim dividend. Krung Thai Bank (KTB) remains KTC’s largest shareholder, holding a 49.29% stake, and continues its pivotal role as a strategic partner for funding, customer base expansion, and payment system development.
In 2026, KTC also aims to expand its customer base by 200,000 to 250,000 new members, leveraging its e-Application system on the KTC Mobile app to better capture the rising influence of Gen Z customers in the digital financial market.
