Finance

Thailand’s securities industry will continue to face secular challenges pressuring profitability from continued compression of brokerage commission rates, fierce competition, as well as investments relating to digitalisation, says Fitch Ratings. Furthermore, renewed economic headwinds from a global growth slowdown will also lead to a less favourable liquidity environment. Fitch expects profitability to weaken from the […]

KASIKORNBANK Public Company Limited’s (KBank; BBB/Stable) plan to increase its stake in PT Bank Maspion Indonesia Tbk (Maspion) to 67.5% from 9.99% reflects Thai banks’ search for earnings opportunities outside of domestic commercial banking, says Fitch Ratings. Fitch believes the acquisition of additional shares in Maspion is unlikely to have an impact on KBank’s standalone […]

Fitch Ratings (Thailand) has assigned Bank of Ayudhya Public Company Limited’s (BAY; AAA(tha)/Stable) upcoming Thai baht-denominated Basel III-compliant Tier 2 subordinated unsecured debentures a rating of ‘AA(tha)’. KEY RATING DRIVERSThe subordinated notes are rated two notches below BAY’s National Long-Term Rating to reflect higher loss-severity risk relative to senior unsecured instruments, in line with the […]