Krungthai Card's cautious loan strategy pays off as Q2 profit beats consensus

KTC is reducing its lease receivables and bad loans.

Krungthai Card’s (KTC) net profit of $66.03m (THB2.23b) in Q2 2026, up 17% year-on-year (YoY), beat expert estimates despite flat loan portfolio growth during the quarter.

The reported profit beat UOB Kay Hian’s estimates by 11% and consensus estimates by 6%, according to a report from the stockbroking company on 20 July.

The Thailand-based card company's loan growth registered little change during the quarter, however, expanding just 0.6% YoY and is flat compared to Q1.

UOBKH forecasts KTC’s loan portfolio growth to be 2.1% YoY in 2026, compared with KTC’s guidance of a 1%-2% growth.

UOBKH analyst Thanawat Thangchadakorn said that KTC is prioritising maintaining a good asset quality, calling its loan portfolio growth in Q2 2026 as “cautious.”

“Meanwhile, KTC planned a strategic decline in lease receivables, resulting in a continuous shrinkage in its loan portfolio and a reduction in NPL in Q2 2026,” Thangchadakorn said.

KTC is prioritising a prudent expansion strategy focused on portfolio quality and risk management, it said.

“This defensive approach aims to mitigate economic volatility while securing sustainable, long-term growth. We are optimistic about KTC’s asset quality outlook,” Thangchadakorn said.

(US$1 = THB 33.77, as of 22 July 2026)