Dr. Chaiyuth Chunnahacha, CEO of G-Able Public Company Limited (SET: GABLE), announced the company’s readiness to support licensees of Virtual Banks, particularly in infrastructure of the establishment.
Mr. Pochara Arayakarnkul, CEO of Bluebik Group Public Company Limited (SET: BBIK), stated that the company possesses a knowledgeable team that can support Virtual Bank licensees as experts and consultants. The company offers services including: 1) strategic planning and revenue generation; 2) technological systems such as deposit, withdrawal, transfer, and payment systems; and 3) data utilization, a core policy of Virtual Banks aimed at using data for credit evaluation and customer services. BBIK already serves major financial institutions and banks, demonstrating its expertise in digital systems. As the licensing process becomes clearer, the company is expected to secure Virtual Bank engagements due to its operational capabilities.
Mr. Apisek Tewinpagti, CEO of Beryl 8 Plus Public Company Limited (SET: BE8), revealed ongoing discussions with several commercial banks expected to receive Virtual Bank licenses.
An analyst from Bualuang Securities noted that technology companies playing roles in the Virtual Bank trend, especially those involving system installations like G-Able, are set to benefit from growing demands for cloud systems, data centers, and cybersecurity services.
Standard software solutions being imported as “Headless” models require customization, benefitting Thai technology consultants and IT service providers such as BBIK, BE8, Sirisoft Public Company Limited (mai: SRS), and TBN Corporation (mai: TBN) through system integration and CRM development. Meanwhile, Business Online (BOL) will enhance consumer data provision.
The momentum for Virtual Banks in Thailand is anticipated to rise in the second half of 2025, significantly boosting IT technology demands. Maybank Securities (Thailand) identified key growth drivers for BBIK in 2025-2026, including branchless banking, cloud, and AI, while maintaining a “buy” recommendation with a revised target price of 45.70 baht, down from 50.10 baht. The profit growth is projected to average 25% CAGR from 2024-2026, with a PEG of only 0.9 (based on a P/E of 22x for 2024). Core profit growth in the first half of 2025 remains strong YoY, following a new high in Q4 2024.
Business prospects for 2025-2026 remain robust, supported by increased demand from banks. Four banks are preparing to upgrade or change their Core Banking systems within the next 1-2 years. Investments in branchless banking are expected to commence mid-2025.
