Krungthai Card’s profit likely to rise in Q3 but provisions to rise: UOBKH

KTC’s management said the quality of potential clients remains a concern.

Krungthai Card is expected to report a net profit of $63.04m (THB2.1b) in Q3 2026, up 9% year-on-year (YoY) but lower by 5% than the previous quarter, according to estimates by UOB Kay Hian.

Pre-provisioning operating income is expected to rise by 4% YoY but will be 1% lower than Q2, said UOBKH analyst Thanawat Thangchadakorn.

The Thailand-based card company is expected to log a loan portfolio growth of 2% YoY and 1% quarter-on-quarter (QoQ). KTC’s loan growth target is between 1% to 2% for the whole of 2026.

Thangchadakorn noted that KTC’s management said that the quality of potential clients remains a concern, but that KTC said it is also screening and being prudent in lending in order to maintain a good-quality loan portfolio.

“We believe KTC will maintain its asset quality despite facing more challenges, as it has in the past,” Thangchadakorn said.

KTC’s credit costs are expected to rise 69 basis points (bps) in Q3, with the company likely increasing provision expenses for future uncertainties, Thangchadakorn said.

UOBKH also has a slightly higher credit cost estimate for KTC for the whole year, at 5.33%, compared to the KTC management believing that its credit costs will be between 5% to 5.3%.

KTC’s recently announced acquisition of Win Performance Company Limited’s (WIN) 100% total shares for $8.86m (THB295m) will enhance its debt collection, Thangchadakorn said.

WIN operates debt collection services, including legal services and support services.

“We are positive on this acquisition, as KTC has consistently highlighted the strength
of its debt-collection partner, which is WIN,” Thanchadakorn said.

KTC has reported impressive debt collection in the past and does not sell written-off receivables, according to UOBKH and Thangchadakorn.

(US$1 = THB 33.3; as of 21 September 2026)