Share prices of the banking sector edged higher on Tuesday after the Bank of Thailand (BOT) affirmed the strong financial position of Thai commercial banks after the rumor of some banks wound not making it through the pandemic, causing the banking stocks to plunge. The BOT also stated that every bank has strong financial positions with a total of 2.88 trillion in the funds (BIS ratio at 19.2%). Meanwhile, the NPL coverage ratio is at 144.1% and NPLs is at 3.09%.
Top 4 Gainers in the Banking Sector of 24 Aug. 2020 Morning Session (12:05 Local Time in Thailand)
Kasikornbank Public Company Limited (KBANK) rose ฿3.50/share or 4.20% to ฿86.75/share.
Kiatnakin Phatra Public Company Limited (KKP) rose ฿1.00/share or 2.58% to ฿39.75/share.
The Siam Commercial Bank Public Company Limited (SCB) rose ฿1.75/share or 2.48% to ฿72.25/share.
TMB Bank Public Company Limited (TMB) rose ฿0.02/share or 2.17% to ฿0.94/share.