Bangkok Bank Future Growth

Future criteria checks 2/6

Bangkok Bank is forecast to grow earnings and revenue by 3.4% and 7% per annum respectively. EPS is expected to grow by 3.1% per annum. Return on equity is forecast to be 7.9% in 3 years.

Key information

3.4%

Earnings growth rate

3.1%

EPS growth rate

Banks earnings growth	4.7%
Revenue growth rate	7.0%
Future return on equity	7.9%
Analyst coverage	Good
Last updated	16 Dec 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

SET:BBL - Analysts future estimates and past financials data (THB Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	175,288	47,345	N/A	N/A	18
12/31/2025	172,200	44,767	N/A	N/A	20
12/31/2024	173,379	43,994	N/A	N/A	18
9/30/2024	138,675	43,670	167,136	169,871	N/A
6/30/2024	134,638	42,543	116,490	119,605	N/A
3/31/2024	135,089	42,030	117,451	119,533	N/A
12/31/2023	133,821	41,636	136,671	138,686	N/A
9/30/2023	127,946	40,342	86,783	88,909	N/A
6/30/2023	121,160	36,649	53,997	55,516	N/A
3/31/2023	113,446	32,317	44,470	45,889	N/A
12/31/2022	106,248	29,306	16,830	18,298	N/A
9/30/2022	104,563	28,054	5,693	8,984	N/A
6/30/2022	102,306	27,306	-59,537	-56,337	N/A
3/31/2022	100,481	26,702	-139,815	-136,787	N/A
12/31/2021	100,407	26,507	-348,691	-345,537	N/A
9/30/2021	96,545	22,587	-289,111	-287,081	N/A
6/30/2021	95,738	19,695	-172,292	-170,010	N/A
3/31/2021	90,772	16,433	-62,441	-59,939	N/A
12/31/2020	87,532	17,181	21,128	23,436	N/A
9/30/2020	91,488	22,785	44,622	46,068	N/A
6/30/2020	92,593	28,206	-40,393	-39,180	N/A
3/31/2020	99,153	34,458	-79,395	-77,870	N/A
12/31/2019	101,395	35,816	10,153	11,868	N/A
9/30/2019	100,312	35,915	-65,084	-63,105	N/A
6/30/2019	99,685	35,506	-14,285	-12,205	N/A
3/31/2019	98,769	35,354	40,888	42,699	N/A
12/31/2018	99,436	35,330	-41,056	-39,369	N/A
9/30/2018	97,265	35,724	125,164	126,826	N/A
6/30/2018	95,251	34,856	N/A	70,246	N/A
3/31/2018	92,907	33,709	N/A	-46,066	N/A
12/31/2017	90,098	33,009	N/A	-59,788	N/A
9/30/2017	89,741	32,780	N/A	-208,145	N/A
6/30/2017	89,531	32,680	N/A	-129,197	N/A
3/31/2017	88,482	31,802	N/A	-107,342	N/A
12/31/2016	90,130	31,815	N/A	-85,414	N/A
9/30/2016	88,885	31,229	N/A	62,537	N/A
6/30/2016	88,745	32,225	N/A	75,896	N/A
3/31/2016	89,067	33,091	N/A	87,376	N/A
12/31/2015	88,075	34,181	N/A	114,026	N/A
9/30/2015	88,444	35,263	N/A	-113,510	N/A
6/30/2015	89,306	35,780	N/A	-246,189	N/A
3/31/2015	89,599	36,774	N/A	-155,841	N/A
12/31/2014	88,171	36,332	N/A	-141,554	N/A
9/30/2014	85,595	35,255	N/A	-111,005	N/A
6/30/2014	83,742	34,635	N/A	-53,057	N/A
3/31/2014	82,471	35,857	N/A	-128,294	N/A
12/31/2013	82,864	35,906	N/A	-137,623	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BBL's forecast earnings growth (3.4% per year) is above the savings rate (2%).

Earnings vs Market: BBL's earnings (3.4% per year) are forecast to grow slower than the TH market (16.8% per year).

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

Revenue vs Market: BBL's revenue (7% per year) is forecast to grow faster than the TH market (6.6% per year).

High Growth Revenue: BBL's revenue (7% 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 (7.9%).

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/22 00:21
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

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Analyst Sources

Bangkok Bank Public Company Limited is covered by 48 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Usanee Liurut	Asia Plus Securities Company Limited
Wannapa Asavatevavith	BNP Paribas Securities (Asia)
Bay Tuntisrisuk	BofA Global Research

Bangkok Bank Future Growth

Future criteria checks 2/6

Key information

Recent future growth updates

Analysts update estimates

Recent updates

Third quarter 2024 earnings: EPS and revenues exceed analyst expectations

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

First half dividend of ฿2.00 announced

Bangkok Bank Public Company Limited Announces Interim Dividend, Payable on 20 September 2024

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

First quarter 2024 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of ฿5.00 per share

Bangkok Bank Public Company Limited Approves Cash Dividend, Payable on 10 May 2024

Full year 2023 earnings: EPS misses analyst expectations

Final dividend increased to ฿5.00

Bangkok Bank Public Company Limited, Annual General Meeting, Apr 11, 2024

Bangkok Bank Public Company Limited Announces Cash Dividend, Payable on 10 May 2024

Bangkok Bank Public Company Limited Announces Audit Committee Changes

Full year 2023 earnings: EPS misses analyst expectations

New major risk - Revenue and earnings growth

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of ฿2.00 per share at 2.9% yield

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

Bangkok Bank Public Company Limited Announces Interim Dividend, Payable on September 22, 2023

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of ฿3.00 per share at 2.5% yield

Now 20% undervalued

Full year 2022 earnings: EPS and revenues miss analyst expectations

Bangkok Bank Public Company Limited Announces Board Changes

Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Bangkok Bank Public Company Limited Announces Resignation of Thaweelap Rittapirom as Director

Upcoming dividend of ฿1.50 per share

Bangkok Bank Public Company Limited Announces Interim Dividend, Payable on September 23, 2022

Second quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Bangkok Bank Public Company Limited Announces Board Changes

First quarter 2022 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of ฿2.50 per share

Bangkok Bank Public Company Limited Announces Board Changes

Bangkok Bank Public Company Limited Announces Corporate Secretary Changes

Full year 2021 earnings: EPS and revenues miss analyst expectations

Bangkok Bank Public Company Limited Approves Dividend for the Year 2021, Payable on April 22, 2022

Bangkok Bank Public Company Limited, Annual General Meeting, Apr 12, 2022

Now 20% undervalued

Full year 2021 earnings: EPS and revenues miss analyst expectations

Bangkok Bank Public Company Ordinary Shares to Be Deleted from Other OTC

Third quarter 2021 earnings released: EPS ฿3.62 (vs ฿2.11 in 3Q 2020)

Upcoming dividend of ฿1.00 per share

Second quarter 2021 earnings released: EPS ฿3.33 (vs ฿1.62 in 2Q 2020)

Second quarter 2021 earnings released: EPS ฿3.33 (vs ฿1.62 in 2Q 2020)

First quarter 2021 earnings released: EPS ฿3.63 (vs ฿4.02 in 1Q 2020)

First quarter 2021 earnings released: EPS ฿3.63 (vs ฿4.02 in 1Q 2020)

Independent Director has left the company

Independent Director has left the company

Upcoming dividend of ฿2.50 per share

Full year 2020 earnings released: EPS ฿9.00 (vs ฿18.76 in FY 2019)

Revenue beats expectations, earnings disappoint

Bangkok Bank Public Company Limited Announces Board Changes

Bangkok Bank Public Company Limited, Annual General Meeting, Apr 12, 2021

Full year 2020 earnings released: EPS ฿9.00

Revenue beats expectations, earnings disappoint

Chailease Capital (Thailand) Company Limited completed the acquisition of an additional 0.35% stake in Asia Sermkij Leasing Public Company Limited (SET:ASK) from a group of shareholders for THB 22.6 million.

Bangkok Bank Public Company Limited Announces Management Changes

Bangkok Bank Public Company Limited Announces CFO Changes

New 90-day high: ฿128

Chailease Capital (Thailand) Company Limited made a tender offer to acquire an additional 50.01% stake in Asia Sermkij Leasing Public Company Limited (SET:ASK) from a group of shareholders for THB 3.2 billion.

Revenue beats expectations, earnings disappoint

Third quarter 2020 earnings released: EPS ฿2.11

Market bids up stock over the past week

New 90-day high: ฿115

Analysts update estimates

Third quarter earnings released

Third-quarter earnings released: Earnings miss expectations

New 90-day low: ฿90.25

New 90-day low: ฿97.50

Bangkok Bank Public Company Limited (SET:BBL) completed the acquisition of 89.1% stake in PT Bank Permata Tbk (IDX:BNLI) from PT Astra International Tbk (IDX:ASII) and Standard Chartered Bank for IDR 33.7 trillion.

Bangkok Bank Public Company Limited (SET:BBL) acquired an additional 11.3% stake in BSL Leasing Co.,Ltd. from Jatubhut Holding Company Limited for approximately THB 240 million.

First half earnings released