Which on March 3, it’s a good time for new stocks Under the original name True Corporation Public Company Limited or TRUE will be trading on the stock market for the first time.
The merger between TRUEE and DTAC will cause the chair in the SET50 and SET100 indexes to disappear 1 position, so other stocks must be moved up instead. For the position in the SET50, it goes to Srisawad Corporation Public Company Limited (SAWAD), while the SET100 stock that was promoted is SCG JWD Logistics Public Company Limited (SJWD).
Of course, when drawn into trading on a big board like this The more it helps to add more charm. Especially among funds that have a policy to invest in the same index. by Nomura Securities, Phatthanasin estimates that more than 420 million baht will flow into SAWAD, which is another positive sentiment for the share price.
Personally, businesses are beginning to see signs of recovery. After the COVID situation unfolds The economy started to come back to life again. Reflected by the loan portfolio that returned to expand hotly every quarter throughout the past year by 14%, 25%, 39% and 58% respectively (Q1-4 2022).
While the bad debt (NPL) continued to decline from 3.4%, 2.8%, 2.6% and 2.5% after more tightening and cautious credit control since the outbreak of COVID-19.
The business outlook this year is still bright. The company targets loan growth of at least 25%. which will be growth in all business groups Including car registration loans, land pledges, motorcycle hire purchases and personal loans
The new interest ceiling of the OCPB that began to apply at the beginning of the year. Looking at the impact, it’s still quite limited. At the same time, it helps reduce competition in the market. After many competitors, especially retailers, have gradually left the market.
Dao Securities (Thailand) stated that it has a positive view on the company’s 2023 performance that will expand brightly The company targets a continuous increase in loans of 25-30% YoY, while NPL is stable at 2.5% and will peak in the first half of this year at 2.7%. Other income will increase according to insurance sales to compensate. loan yield, lower hire-purchase loans After being regulated since January, reserve expenses will return to normal levels as they were before the outbreak of COVID-19.
however We maintain our 2023 net profit forecast at 5.2 billion baht, up 17% YoY from a 24% YoY increase in loans. Meanwhile, NIM slightly decreased due to lower loan yields on hire purchase loans. and increasing financial costs by industry Including back to recognize reserve expenses as normal.
Share price outperform SET +21% over the past 3 months. from the performance to be improved Both main loans that will return to expand and NPLs that are not accelerating like the industry. However, the research department still recommends “BUY” on strong loan growth. and can control the NPL to be stable or increase slightly Including operating results in the first quarter of 2023 that will continue to grow well
