The analysis department of Asia Plus Securities (ASPS) expects the eight commercial banks it covers to report a combined net profit of 54 billion baht in the first quarter of 2023, up 34% from three months earlier thanks to net interest income (NII) growth and reduced operating costs.
The first-quarter net profit of the eight banks is projected to increase 5% year-on-year, said the brokerage.
While interest rates are not expected to dip and enter a downward trend this year, the NII of commercial banks would expand in line with economic growth. The current price-to-book value (P/BV) ratio, meanwhile, is not expensive at 0.67 times, ASPS explained.
Based on the quality of assets, ASPS recommends the share prices for Bangkok Bank (BBL) at 174 baht, 132 baht for Siam Commercial Bank (SCB), 159 baht for Kasikornbank (KBank) and 20.3 baht for Krungthai Bank (KTB). For…
