บทวิเคราะห์ (Research)

4Q24 net profit was in line with expectations We have adjusted our TP25F to 160 baht, reflecting upward revisions to our 2025-26F net profit forecasts by 6-8%. However, we maintain our NEUTRAL rating. We view BBL as having the highest provision coverage ratio among its peers, as evidenced by a coverage ratio of 334% in the latest 4Q24 results. 4Q24 net profit of 10.4 billion baht was in line with our and consensus estimates. Profit increased 17% y-y but decreased 17% q-q. This quarter, asset quality management was positive, particularly NPLs, primarily driven by improved repayments from restructured borrowers.