SET:BBL

Stock Analysis Report

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Executive Summary

Bangkok Bank Public Company Limited provides various commercial banking products and services primarily in Thailand.


Snowflake Analysis

Excellent balance sheet established dividend payer.


Similar Companies

Share Price & News

How has Bangkok Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BBL has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.5%

BBL

1.1%

TH Banks

3.2%

TH Market


1 Year Return

-45.4%

BBL

-44.5%

TH Banks

-20.7%

TH Market

Return vs Industry: BBL matched the TH Banks industry which returned -44.5% over the past year.

Return vs Market: BBL underperformed the TH Market which returned -20.7% over the past year.


Shareholder returns

BBLIndustryMarket
7 Day-0.5%1.1%3.2%
30 Day-16.0%-15.8%-2.8%
90 Day12.3%10.0%21.1%
1 Year-42.4%-45.4%-40.8%-44.5%-17.5%-20.7%
3 Year-34.5%-41.9%-38.2%-45.7%-7.4%-16.3%
5 Year-26.5%-39.6%-30.3%-42.6%3.0%-12.9%

Price Volatility Vs. Market

How volatile is Bangkok Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Bangkok Bank undervalued compared to its fair value and its price relative to the market?

5.96x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BBL (฿107.5) is trading above our estimate of fair value (฿103)

Significantly Below Fair Value: BBL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BBL is good value based on its PE Ratio (6x) compared to the Banks industry average (6.3x).

PE vs Market: BBL is good value based on its PE Ratio (6x) compared to the TH market (15.2x).


Price to Earnings Growth Ratio

PEG Ratio: BBL is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: BBL is good value based on its PB Ratio (0.5x) compared to the TH Banks industry average (0.6x).


Next Steps

Future Growth

How is Bangkok Bank forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?

5.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BBL's forecast earnings growth (5.7% per year) is above the savings rate (2.3%).

Earnings vs Market: BBL's earnings (5.7% per year) are forecast to grow slower than the TH market (19.9% per year).

High Growth Earnings: BBL's earnings are forecast to grow, but not significantly.

Revenue vs Market: BBL's revenue (4.4% per year) is forecast to grow slower than the TH market (9.3% per year).

High Growth Revenue: BBL's revenue (4.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BBL's Return on Equity is forecast to be low in 3 years time (7.2%).


Next Steps

Past Performance

How has Bangkok Bank performed over the past 5 years?

0.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BBL has a high level of non-cash earnings.

Growing Profit Margin: BBL's current net profit margins (34.8%) are lower than last year (35.8%).


Past Earnings Growth Analysis

Earnings Trend: BBL's earnings have grown by 0.8% per year over the past 5 years.

Accelerating Growth: BBL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BBL had negative earnings growth (-2.5%) over the past year, making it difficult to compare to the Banks industry average (3%).


Return on Equity

High ROE: BBL's Return on Equity (8.4%) is considered low.


Next Steps

Financial Health

How is Bangkok Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: BBL's Assets to Equity ratio (8.2x) is low.

Allowance for Bad Loans: BBL has a sufficient allowance for bad loans (195%).

Low Risk Liabilities: 84% of BBL's liabilities are made up of primarily low risk sources of funding.

Loan Level: BBL has an appropriate level of Loans to Assets ratio (57%).

Low Risk Deposits: BBL's Loans to Deposits ratio (78%) is appropriate.

Level of Bad Loans: BBL has a high level of bad loans (4%).


Next Steps

Dividend

What is Bangkok Bank current dividend yield, its reliability and sustainability?

6.51%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BBL's dividend (6.51%) is higher than the bottom 25% of dividend payers in the TH market (2.52%).

High Dividend: BBL's dividend (6.51%) is low compared to the top 25% of dividend payers in the TH market (7.17%).


Stability and Growth of Payments

Stable Dividend: BBL's dividends per share have been stable in the past 10 years.

Growing Dividend: BBL's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.8%), BBL's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BBL's dividends in 3 years are forecast to be well covered by earnings (38.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

14.1yrs

Average management tenure


CEO

Deja Tulananda (86yo)

3.33yrs

Tenure

฿6,520,000

Compensation

Mr. Deja Tulananda serves as Chief Executive Officer at Bangkok Bank PCL and serves as its Executive Director. He was the Chairman of the Board of Bangkok Bank PCL from March 23, 2017 until October 25, 201 ...


Leadership Team

NamePositionTenureCompensationOwnership
Deja Tulananda
CEO & Executive Director3.33yrs฿6.52m0.0051% ฿10.4m
Chartsiri Sophonpanich
President & Executive Director28.25yrs฿6.52m0.28% ฿569.8m
Thaweelap Rittapirom
Executive Director & Executive VP in charge of Public Relations Department9.58yrs฿6.52mno data
Suvarn Thansathit
Senior EVP & Executive Director13.75yrs฿6.52m0.00046% ฿943.9k
Chansak Fuangfu
Senior EVP & Executive Director8.58yrs฿6.52mno data
Amorn Chandarasomboon
Executive Director32.25yrs฿7.12m0.00057% ฿1.2m
Singh Tangtatswas
Executive Director15.58yrs฿7.12mno data
Charamporn Jotikasthira
Executive Director3.25yrs฿6.52mno data
Boonsong Bunyasaranand
Senior EVP1.25yrs฿4.89mno data
Oranuch Nampoolsuksan
Executive Vice President of Accounting & Finance Divisionno datano datano data

14.1yrs

Average Tenure

70yo

Average Age

Experienced Management: BBL's management team is seasoned and experienced (14.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Deja Tulananda
CEO & Executive Director3.33yrs฿6.52m0.0051% ฿10.4m
Chartsiri Sophonpanich
President & Executive Director28.25yrs฿6.52m0.28% ฿569.8m
Thaweelap Rittapirom
Executive Director & Executive VP in charge of Public Relations Department9.58yrs฿6.52mno data
Suvarn Thansathit
Senior EVP & Executive Director13.75yrs฿6.52m0.00046% ฿943.9k
Chansak Fuangfu
Senior EVP & Executive Director8.58yrs฿6.52mno data
Amorn Chandarasomboon
Executive Director32.25yrs฿7.12m0.00057% ฿1.2m
Singh Tangtatswas
Executive Director15.58yrs฿7.12mno data
Charamporn Jotikasthira
Executive Director3.25yrs฿6.52mno data
Boonsong Bunyasaranand
Senior EVP1.25yrs฿4.89mno data
Piti Sithi-Amnuai
Chairman1.75yrs฿10.90m0.0081% ฿16.7m

11.7yrs

Average Tenure

73yo

Average Age

Experienced Board: BBL's board of directors are seasoned and experienced ( 11.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Bangkok Bank Public Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bangkok Bank Public Company Limited
  • Ticker: BBL
  • Exchange: SET
  • Founded: 1944
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ฿205.201b
  • Shares outstanding: 1.91b
  • Website: https://www.bangkokbank.com

Number of Employees


Location

  • Bangkok Bank Public Company Limited
  • 333 Silom Road
  • Bangrak
  • Bangkok
  • 10500
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BKKP.FOTCPK (Pink Sheets LLC)ORDUSUSDJan 1992
BBLSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBJan 1992
BBL-FTHAMSE (Bangkok-Alien Market Stock Exchange)ORDTHTHBJan 1992
BKKFDB (Deutsche Boerse AG)ORDDEEURJan 1992
BBL-RSET (The Stock Exchange of Thailand)NON VTG DEP RCPT REP 1 ORD THB10THTHBAug 2001
BGKK.FOTCPK (Pink Sheets LLC)NON VTG DEP RCPT REP 1 ORD THB10USUSDAug 2001
BKKL.YOTCPK (Pink Sheets LLC)ADRUSUSDOct 2008

Biography

Bangkok Bank Public Company Limited provides various commercial banking products and services primarily in Thailand. The company operates through Domestic Banking, International Banking, Investment Banking, and Others segments. It offers various personal banking products and services, including savings, current, fixed deposit, foreign currency, and other accounts; home, collateral, overdraft, and personal loans; mutual funds; investments products and services, such as bills of exchange, and bonds and debentures, as well as securities brokerage services; life and non-life bancassurance products; payment, funds transfer, currency exchange, and SMS services; debit, credit, purchasing, and prepaid cards; and phone and Internet banking, mobile banking, ATMs, and other services. The company also provides business banking products and services comprising operating accounts; international trade, investment banking, and e-guarantee services; securities services, such as custodian, mutual fund supervisor, provident fund registrar, securities registrar, and debenture holders’ representative services; cash management, investment, merchant, and online banking services; corporate financing services; and payment, merchant, and commercial cards. In addition, it offers trade finance, remittances, fund transfer, export and import, project, corporate finance, insurance, and advisory services, as well as liquidity, fund, and asset management services. As of December 31,2019, the company operated through a network of 1,148 branches in Thailand; and 31 branches in Cambodia, China, Hong Kong, Indonesia, Japan, Laos, Malaysia, Myanmar, the Philippines, Singapore, Taiwan, the United Kingdom, the United States, and Vietnam. Bangkok Bank Public Company Limited was founded in 1944 and is headquartered in Bangkok, Thailand. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/04 14:53
End of Day Share Price2020/07/03 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.