On Tuesday at 10:18 AM (Bangkok time), the share price of Kiatnakin Phatra Bank Public Company Limited (SET: KKP) plummeted by 6.71% or THB 2.75 to THB 38.25, with a trading value of THB 126.34 million.
Krungsri Securities (KSS) reported a pessimistic sentiment from the analyst meeting regarding KKP, noting the company’s downward revision of its FY2024 projections across various segments such as ROAE, consolidated loans, loan spread, and NPL ratio.
Subsequently, KSS lowered KKP’s profit forecast for 2024-25 by 27-32% and adjusted the 2025 target price to THB 38. Additionally, KKP’s rating was downgraded to ‘Reduce’ by the analyst, citing concerns in the hire purchase market, which constitutes 45% of the company’s consolidated loans. These issues have the potential to persist, impacting asset quality and loan growth.
