We maintain the tactical trigger: Bond yields reversing or stabilizing, and fund flows stabilizing, which will pave the way for a re-rating. A dividend yield of 5%–7% will help cushion stock price volatility. We continue to favor KTB and KBANK due to their superior asset quality and OPEX control compared to peers, while BBL is viewed as a catch-up play.
For the title loan sector, we see strong YoY earnings momentum in 2H26, yet YTD stock prices have fallen an average of 9% compared to the SET's +20% gain. This presents an attractive catch-up opportunity, despite high uncertainty in the grassroots economy. We continue to favor MTC > TIDLOR > SAWAD.

Attached Documents :

Bank20261103.pdf