The analysis department of Asia Plus Securities (ASPS) expects the eight commercial banks it covers to report a combined net profit of 54 billion baht in the first quarter of 2023, up 34% from three months earlier thanks to net interest income (NII) growth and reduced operating costs.
The first-quarter net profit of the eight banks is projected to increase 5% year-on-year, said the brokerage.
While interest rates are not expected to dip and enter a downward trend this year, the NII of commercial banks would expand in line with economic growth. The current price-to-book value (P/BV) ratio, meanwhile, is not expensive at 0.67 times, ASPS explained.
