On Monday at 11:22 AM (Bangkok time), the share price of Krungthai Card Public Company Limited (SET: KTC) gained 4.27% or THB 1.25 to THB 30.50, with a trading value of THB 693.39 million.
Krungsri Securities (KSS) has expressed a slightly positive view on the 1Q26 net profit of KTC, which reported a figure of THB 2,171 million, surpassing expectations. The outperformance was due to lower-than-expected expected credit loss (ECL) expenses, attributed to robust asset quality and sufficient provisioning in the face of ongoing economic uncertainty.
On a year-on-year basis, net profit increased by 17%, and on a quarter-on-quarter basis, by 5%. This growth was driven by an expansion in net interest margin (NIM) and higher fee and service income, as well as a decrease in bad debt write-offs.
Krungsri has revised upward KTC’s net profit forecasts for 2026–2028 by approximately 4% annually, citing the lower-than-anticipated credit costs. Consequently, the target price for KTC in 2026 has been raised to THB 39.00 per share, up from the previous THB 38.00.
The brokerage maintains a ‘Buy’ recommendation and continues to designate KTC as its top pick within the consumer finance sector, highlighting the company’s strong balance sheet as a key strength. KTC is anticipated to set a new record high for net profit in 2026, following the strong performance in 2025, while the ongoing efforts to expand into insurance sales are expected to provide an additional source of future revenue.
