SET:KBANK

Stock Analysis Report

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Executive Summary

Kasikornbank Public Company Limited, together with its subsidiaries, provides commercial banking products and services in Thailand and internationally.


Snowflake Analysis

Excellent balance sheet established dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: KBANK's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

21.9%

KBANK

17.5%

TH Banks

6.5%

TH Market


1 Year Return

-38.7%

KBANK

-32.7%

TH Banks

-13.2%

TH Market

Return vs Industry: KBANK underperformed the TH Banks industry which returned -32.7% over the past year.

Return vs Market: KBANK underperformed the TH Market which returned -13.2% over the past year.


Shareholder returns

KBANKIndustryMarket
7 Day21.9%17.5%6.5%
30 Day40.5%26.9%12.1%
90 Day0%0.5%5.2%
1 Year-35.7%-38.7%-28.2%-32.7%-9.8%-13.2%
3 Year-32.3%-38.1%-25.0%-34.1%-2.9%-12.2%
5 Year-34.4%-42.6%-21.3%-35.2%6.1%-10.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

7.94x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: KBANK (฿117) is trading above our estimate of fair value (฿82.2)

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


Price To Earnings Ratio

PE vs Industry: KBANK is poor value based on its PE Ratio (7.9x) compared to the Banks industry average (7.8x).

PE vs Market: KBANK is good value based on its PE Ratio (7.9x) compared to the TH market (14.8x).


Price to Earnings Growth Ratio

PEG Ratio: KBANK is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: KBANK is good value based on its PB Ratio (0.7x) compared to the TH Banks industry average (0.7x).


Next Steps

Future Growth

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

10.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KBANK's forecast earnings growth (10.7% per year) is above the savings rate (2.3%).

Earnings vs Market: KBANK's earnings (10.7% per year) are forecast to grow slower than the TH market (19.9% per year).

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

Revenue vs Market: KBANK's revenue (5.6% per year) is forecast to grow slower than the TH market (9.5% per year).

High Growth Revenue: KBANK's revenue (5.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KBANK's Return on Equity is forecast to be low in 3 years time (7.6%).


Next Steps

Past Performance

How has Kasikornbank performed over the past 5 years?

-3.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KBANK has high quality earnings.

Growing Profit Margin: KBANK's current net profit margins (29.4%) are lower than last year (31%).


Past Earnings Growth Analysis

Earnings Trend: KBANK's earnings have declined by -3.4% per year over the past 5 years.

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

Earnings vs Industry: KBANK had negative earnings growth (-6.5%) over the past year, making it difficult to compare to the Banks industry average (3%).


Return on Equity

High ROE: KBANK's Return on Equity (8.3%) is considered low.


Next Steps

Financial Health

How is Kasikornbank'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: KBANK's Assets to Equity ratio (7.7x) is low.

Allowance for Bad Loans: KBANK has a sufficient allowance for bad loans (127%).

Low Risk Liabilities: 73% of KBANK's liabilities are made up of primarily low risk sources of funding.

Loan Level: KBANK has an appropriate level of Loans to Assets ratio (55%).

Low Risk Deposits: KBANK's Loans to Deposits ratio (88%) is appropriate.

Level of Bad Loans: KBANK has a high level of bad loans (4.5%).


Next Steps

Dividend

What is Kasikornbank's current dividend yield, its reliability and sustainability?

4.27%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: KBANK's dividend (4.27%) is higher than the bottom 25% of dividend payers in the TH market (2.52%).

High Dividend: KBANK's dividend (4.27%) is low compared to the top 25% of dividend payers in the TH market (6.95%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33.9%), KBANK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KBANK's dividends in 3 years are forecast to be well covered by earnings (34.9% payout ratio).


Next Steps

Management

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

7.3yrs

Average management tenure


CEO

Kattiya Indaravijaya (54yo)

0.67

Tenure

฿4,187,590

Compensation

Ms. Kattiya Indaravijaya has been Chief Executive Officer at Kasikornbank Public Company Limited since October 2019. Ms. Indaravijaya has been an Executive Director of Kasikornbank Public Company Limited s ...


Leadership Team

NamePositionTenureCompensationOwnership
Kattiya Indaravijaya
CEO & Director0.67yr฿4.19mno data
Predee Daochai
President & Executive Director7.25yrs฿4.19mno data
Pipit Aneaknithi
President & Executive Director3.42yrs฿4.19mno data
Patchara Samalapa
President & Director2.17yrs฿3.69mno data
Abhijai Chandrasen
Non-Executive Director & Legal Adviser20.17yrs฿8.58mno data
Chongrak Rattanapian
Senior EVP & CFO4.42yrsno datano data
Pornvipa Tangtrongchit
Chief of Investment Bankingno datano datano data
Tawit Thanachanan
First Senior Vice President19.42yrsno datano data
Ampol Polohakul
Executive Vice President19.42yrsno datano data
Pongpichet Nananukool
First Senior Vice President12.42yrsno datano data

7.3yrs

Average Tenure

53yo

Average Age

Experienced Management: KBANK's management team is seasoned and experienced (7.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Kattiya Indaravijaya
CEO & Director0.67yr฿4.19mno data
Predee Daochai
President & Executive Director7.25yrs฿4.19mno data
Pipit Aneaknithi
President & Executive Director3.42yrs฿4.19mno data
Patchara Samalapa
President & Director2.17yrs฿3.69mno data
Abhijai Chandrasen
Non-Executive Director & Legal Adviser20.17yrs฿8.58mno data
Sujitpan Lamsam
Vice Chairperson of the Board4.42yrs฿6.49mno data
Banyong Lamsam
Honorary Chairmanno data฿569.82kno data
Piyasvasti Amranand
Independent Director7.17yrs฿6.65mno data
Kalin Sarasin
Independent Director7.17yrs฿5.46mno data
Kobkarn Wattanavrangkul
Chairperson of the Board & Lead Independent Director0.42yr฿7.75mno data
Nalinee Paiboon
Independent Director7.83yrs฿5.63mno data

5.8yrs

Average Tenure

60yo

Average Age

Experienced Board: KBANK's board of directors are considered experienced (5.8 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

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


Key Information

  • Name: Kasikornbank Public Company Limited
  • Ticker: KBANK
  • Exchange: SET
  • Founded: 1945
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: ฿277.211b
  • Shares outstanding: 2.37b
  • Website: https://www.kasikornbank.com

Number of Employees


Location

  • Kasikornbank Public Company Limited
  • 1 Soi Rat Burana 27/1
  • Rat Burana Road
  • Bangkok
  • 10140
  • Thailand

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TFBFDB (Deutsche Boerse AG)SHS FGN REGDEEURMay 1993
KBANKSET (The Stock Exchange of Thailand)YesOrdinary SharesTHTHBMay 1993
KBANK-FTHAMSE (Bangkok-Alien Market Stock Exchange)SHS FGN REGTHTHBMay 1993
KPCP.FOTCPK (Pink Sheets LLC)SHS FGN REGUSUSDMay 1993
KBANK-RSET (The Stock Exchange of Thailand)NON VTG DEP RCPT REP 1 ORD THB10THTHBAug 2001
KPCU.FOTCPK (Pink Sheets LLC)NON VTG DEP RCPT REP 1 ORD THB10USUSDAug 2001
KPCP.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDApr 2011

Biography

Kasikornbank Public Company Limited, together with its subsidiaries, provides commercial banking products and services in Thailand and internationally. The company’s personal banking products and services include savings, current, fixed deposit, and foreign currency accounts; personal, home, and auto loans; debit and credit cards; life and non-life insurance products; investment products, such as mutual funds, stocks, and derivatives/futures exchange; money transfer and bill payment, cheque and draft, and foreign exchange services; and mobile banking services. It also offers various products and services for small and medium enterprises, including savings, current, and fixed deposits; working capital, commercial, and special loans, as well as letters of guarantee; collection and payment services; life, non-life, and group insurance products; and import, export, and money transfer services. In addition, the company provides various products and services for corporate customers, such as cash management solutions, including current, savings, special savings deposit, and fixed deposit accounts, as well as collection, payment, liquidity management, and electronic solutions; international trade solutions comprising import and export, global money transfer, guarantee, and trade finance solutions; working capital loans, term loans, special loans, and letters of guarantee; supply chain financing; life, non-life, and group insurance products; and foreign exchange and derivatives, corporate finance, securities, investment, and business card services. Further, it offers auto and equipment leasing, and venture capital management services. Kasikornbank Public Company Limited was founded in 1945 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 Analysis2020/06/06 15:36
End of Day Share Price2020/06/05 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.