Today (20 October 2025), the share price of Kiatnakin Phatra Bank Public Company Limited (SET: KKP) at 03:30 P.M. (Bangkok time) stood at THB 64.50 per share, up THB 2.25 or 3.61%, with a trading value of THB 523.24 million.
Krungsri Securities stated in its analysis on KKP that its 3Q25 net profit was THB 1.67 billion, beating analyst expectations by 24% and market expectations by 33%. The profit increased by 28% year-on-year and 19% quarter-on-quarter. Supporting factors included: 1.) Non-interest income (Non-NII) increased by 50% year-on-year and 33% quarter-on-quarter, following the rise of financial investments (FVTPL) and fee and service income.
2.) Operating expenses (OPEX) dropped by 14% year-on-year due to losses from repossessed cars dropping to THB 554 million from THB 1.19 billion in 3Q24, and down THB 594 million from 2Q25, as the number of repossessed car sales decreased. 3.) Expected credit loss (ECL) expenses decreased by 7% year-on-year as portfolio quality improved. The gross NPL dropped to 4% year-on-year, resulting in the NPL ratio at 4.30%, equal to that of 2Q25.
Total lending contracted by 3.5% year-on-year, and by 6.0% year to date, mainly due to a drop in SME and retail loans. Net profit for the first nine months of 2025 accounted for 83% of this year’s full-year net profit forecast of THB 5.01 billion, up 1% year-on-year.
Meanwhile, analysts forecast 4Q25 net profit to increase year-on-year as losses from repossessed cars continue to decrease, but net profit will likely decline quarter-on-quarter due to lower total loans as the bank tightens lending policy, together with a rise in OPEX as 4Q is typically a period of high expense recognition.
Analysts will review their recommendations and target price after the analyst meeting this afternoon. Overall, the asset quality outlook remains positive, and the bank is expected to maintain a dividend yield of 6-7% per year.
