Broker view After the bank announces a reduction in interest
Commercial banks are gradually announcing interest rate cuts. He confirmed the resolution of the Monetary Policy Commission (MPC), which lowered interest rates on August 7.
Nomura Pattanasin Securities (CNS) Looking at the issues that large banks, such as KBANK and KTB, announced that they will lower the loan interest rate by 0.25%, most market analysts have previously revised the previous week's base resolution, and the MPC cut interest rates by 0.25%. This will affect the group's profit throughout the year – (1-3)% or will think that the EPS market will disappear by -0.4 baht / share, which is why today a negative reaction factor Considered the end of base regulation
The investment strategy remains positive for SCB (TP164), most prominent in Large BANK and TISCO (TP106), while KBANK and BBL observe the upcoming short coverage after the PBV is only 1x and 0.77x. It is very close to the global financial crisis and is reflected in value
Asia Plus Securities (ASPS Research) Poor to the weight of the banking sector, less than the market, looking at the problem KBANK pilot announced a reduction in interest rates for MOR, MRR down 0.25%, starting August 15, 62, to help retail clients and SMEs without notice. Lower your deposit rates then
The MRR interest rate structure mainly concerns loans to SMEs (34% of total loans) and retail loans such as housing loans (16-17% of total loans), which will affect interest income on group loans. It While the cost of interest is not reduced accordingly
Other commercial banks are expected to lower their interest rates accordingly. In the same way as KBANK, the research team plans to reduce interest income and NIM groups. Each 25bp lower market interest rate will affect the group's net profit in 2019, decreasing by 3% compared to earlier, although the impact would be full, the net profit forecast was reduced by 5-6% compared to the previous year 2020.
The research team has already lowered the investment weight to less than the market after the MPC lowered the one-day RP rate by 0.25% over the last week.
By KTB, BBL and other large commercial banks. It is a group that is more affected than industry. In the short term, interest rate cuts are still a negative sentiment for investment in large commercial banks. Small and medium commercial banks Looking at sales opportunities Because the price of the majority partner is close to or higher than the previous value
Thanachart Securities (TNS Research) Looking at the KBANK issue announcing a 0.25% interest rate cut on MOR and MRR loans, with effect from August 15, after BoT lowered the interest rate at the end of the previous month, it affected NIM large banks. Go But like banks that have achieved good results from low interest rates And bringing higher dividends such as KKP