Bangkok Bank earnings forecasts raised up to 15%: CGS International

The bank posted a $420m (THB13.8b) net profit for the third quarter.

Bangkok Bank’s stronger third-quarter profit has lifted near-term expectations, but CGS International see limited upside as weak loan demand and lower returns cap growth prospects.

The bank posted a $420m (THB13.8b) net profit for the third quarter, up 10.5% year-on-year and 16.5% quarter-on-quarter, beating forecasts by 27%. 

Gains came from higher investment income and improved fees from brokerage, asset management, and bancassurance.

CGS International raised its 2025 to 2027 earnings forecasts by up to 15%, citing stronger non-interest income and lower costs, but cut its loan growth outlook to a 4.2% decline this year. 

The bank’s return on equity is expected to ease to about 7% to 8%, whilst its NPL coverage remains strong at 294%.