Stock Dimension – BBL from Finansia Syrus Securities said it expects Q4/23 net profit of 108 billion baht -5% qq, +42% yy, mainly from high operating costs Up qq which is usual for Q4 every year .
While net interest income is expected to grow +5% qq, +18% yy from NIM which is expected to increase following the policy interest rate which has increased to 3.21%, making the whole year 2023 at 2.97% higher and the company expect Therefore, we adjusted our 2023-25 profit forecast by 13-15% to reflect better than expected NIM, resulting in 2023-25 profit growth to be +48% yy, +7% yy and +5 % yy, respectively 2024 will start to slow down after the benefits of rising interest rates in the last year wear off.In terms of asset quality, there is nothing to worry about and it can be managed according to the target. Maintain target price of 198 baht, still recommend “Buy”
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