Brokers expect NIM during Q4/22 to increase by 0.05-0.15% after MPC increases to support interest income Ready for year-end shopping season, recommend stocks TISCO – BBL – KTB – SCB
Mr Passakorn Wangwiwatcharoen Fundamental analysts in securities Asia Plus Securities revealed to “E-Fiance Thai News Agency” after the Monetary Policy Committee (MPC) raised interest rates by 0.25% to 1.25%, the last increase this year It is expected that the income spread net interest (NIM) commercial banks in the fourth quarter of 2022 have the opportunity to further increase around 0.10-0.15%, seen at the end of the year, the majority of large banks may have. interest income, increase However, seasonal costs such as marketing costs that the NIM framework may not increase much.
“Big banks had high expenses in Q4, so we may not see much NIM support from interest rate rises. but believe that the income side will be good, both interest income and fee income during the fourth quarter of economic activities and spending season Large loans give customers more credit limits. There are also events such as the Motor Expo supporting car hire purchase loans. Including credit card loans, etc.,” said Mr. Passakorn.
Overall, the forecast in the group of commercial banks in 2022 remained at the same level. which recommends interesting stocks in the group of commercial banks, namely TISCO Bank (TISCO), which has the highest dividend yield in the group, around 7-8% per annum. Coverage ratio remains strong at 248 % with a target price of 105 baht. .
Including Bangkok Bank (BBL) and Krung Thai Bank (KTB) benefiting from the rising interest trend. because the interest rate structure is moving Overall, the quality of the assets was good. with a target price of 159 baht and 20.30 baht, respectively
Rathasak Piriya-anon, Assistant Director of Krungsri Securities, revealed to the news agency. “E-finance Thai News Agency” said that the overall NIM in the fourth quarter of 2022 is expected to increase by 0.05-0.10% after the National Bank raised interest rates by another 0.25%, with large banks getting a lot of floating interest loans. which received such benefits Given that the stocks that are interesting to invest in are Siam Commercial Bank (SCB) with a target price of 155 baht and Bangkok Bank with a target price of 180 baht.
|
bank |
Bank Interest Limit (NIM) | ||
| Q1/65 | C2/65 | C3/65 | |
| BBL | 2.11% | 2.24% | 2.49% |
| BAE | 3.28% | 3.32% | 3.49% |
| CIMBT | 2.80% | 2.80% | 2.70% |
| KBANK | 3.19% | 3.21% | 3.33% |
| KTB | 2.44% | 2.51% | 2.61% |
| KKP | 5.30% | 5.20% | 5.30% |
| LHFG | 2.39% | 2.41% | 2.39% |
| SCB | 3.04% | 3.17% | 3.38% |
| TISCO | 5.09% | 5.05% | 5.15% |
| TTB | 2.91% | 2.83% | 2.92% |
Source: SET.
