Major Thai banks posted solid financial results for the first quarter of 2026, highlighting resilient profitability, healthy asset quality, and strong capital buffers, despite continued economic challenges.
Krung Thai Bank PCL (SET: KTB) delivered a net profit of THB 12.44 billion, a 6.2% year-on-year increase—surpassing market expectations—driven by 2.4% loan growth mainly from government, corporate, and housing loans. The bank’s net interest margin (NIM) stood at 2.48%, and fee income rose 13.9% from the wealth and capital market businesses.
Cost efficiency further improved, with the cost-to-income ratio down to 38.9%. Asset quality remained robust with NPLs at 2.93% and a high coverage ratio of 204.7%. KTB’s capital base remained strong, with a Tier 1 capital ratio at 18.60% and a BIS ratio at 20.54%. Additionally, return on equity (ROE) stood at 10.8%.
Kasikornbank PCL (SET: KBANK) posted a net profit of THB 14.68 billion, up 6.35% year-on-year. The NIM slightly decreased to 2.95% due to lower policy rates and sluggish loan growth. KBANK maintained high credit loss provisions at THB 9.82 billion amid economic uncertainty. Non-interest income surged 17.57%, supported by wealth management and investment gains. Asset quality was steady, with NPLs at 3.19% and a coverage ratio of 171.72%. The BIS ratio was at 19.95%.
SCB X PCL (SET: SCB) reported a Q1 net profit of THB 10.20 billion, down 18.5% year-on-year, as net interest income and investment gains fell amid a series of rate cuts. However, fee income grew 17.7%, boosted by wealth management and investment banking activities. Loan growth was 3.4%, with asset quality metrics steady—NPL improved to 3.23% while the coverage ratio stayed high at 162.3%. The bank’s capital ratio was at 18%.
Bank of Ayudhya PCL (SET: BAY) saw net profit rise 14.4% year-on-year to THB 8.62 billion, helped by NIM expansion to 4.61% and robust non-interest income. Asset quality was stable, with NPLs at 3.34% and a coverage ratio of 132.3%. The capital base remained strong with a BIS ratio of 20.65%.
TMBThanachart Bank PCL (SET: TTB) posted a net profit of THB 5.17 billion, up 1.4% year-on-year, but slightly down quarter-on-quarter. NPLs were contained at 2.9% and the coverage ratio climbed to 154%. Capital positions remained solid with a total capital adequacy ratio (CAR) at 19.7%.
Smaller commercial banks also saw profit growth. TISCO Financial Group PCL (SET: TISCO)’s net profit rose 5.5% to THB 1.73 billion; Kiatnakin Phatra Bank PCL (SET: KKP) posted an impressive 84.2% jump to THB 1.96 billion; Thai Credit Bank PCL (SET: CREDIT) saw profits up 29% to THB 1.16 billion; CIMB Thai Bank PCL (SET: CIMBT) gained 8.4% year-on-year to THB 908.2 million; and LH Financial Group PCL (SET: LHFG) boosted net profit 47.9% to THB 842.5 million.
