Krungthai Card Public Company Limited (SET: KTC) reported strong financial results for the third quarter of 2026, delivering an 8.9% year-over-year increase in net profit attributable to owners of the parent to THB 2,125 million, up from THB 1,951 million in 3Q25. Bottom-line expansion was primarily propelled by disciplined operating cost controls and a sharp drop in finance costs amid cautious consumer spending.
Total revenue for the quarter rose slightly by 0.2% year-over-year to THB 6,917 million. Net interest income expanded as total interest revenue grew 1.1% to THB 4,142 million, supported by a 2.2% increase in credit card interest income to THB 2,006 million and a 0.5% uptick in personal loan interest income to THB 2,123 million. Fee income ticked up 0.4% to THB 1,576 million. However, bad debt recovery revenue fell 8.8% to THB 925 million.
On the expense side, total expenses contracted 2.0% year-over-year to THB 4,256 million. The primary profit driver was a 16.4% plunge in finance costs to THB 354 million, enabled by lower funding rates and optimized borrowing management. Operating expenses declined 1.2% to THB 2,445 million, boosted by a 34.8% reduction in marketing expenses. Consequently, KTC’s cost-to-income ratio improved to 35.3% from 35.8% in 3Q25.
Loan portfolio expansion remained modest as high household debt levels restricted consumer lending growth. Total loans rose 0.8% year-over-year to THB 107,717 million. Credit card receivables edged up 0.9% to THB 70,055 million, personal loans grew 1.9% to THB 36,533 million, and leasing receivables shrank 30.6% to THB 1,130 million following the runoff of discontinued lending origination.
Asset quality remained under firm control. The non-performing loan ratio rose slightly to 1.92% from 1.85% in 3Q25, staying safely below the company’s full-year target of 2.0%. Expected credit losses grew 0.9% year-over-year to THB 1,457 million, while credit cost held flat at 5.4%. KTC closed the quarter with a high NPL coverage ratio of 413.4%.
