The share price of The Siam Commercial Bank Public Company Limited (SCB) edged higher by ฿2.50/share or 2.36% to ฿108.50/share as of 15:00 local time in Thailand on April 22, 2021 with a trading value of 2,090 million baht.
SCB released its 1Q21 earnings yesterday, showing a net profit of 10,087 million baht in 1Q21, increased 9.05% from a net profit of 9,251 million baht in 1Q20. The increase was mainly due to the strength of non-interest income businesses and its cost management.
In the meantime, SCB set aside Baht 10.0 billion of provisions in the first quarter which were lower than the peak level last year but still remained elevated given the economic uncertainty during the COVID-19 pandemic.
Philip Securities (Thailand) recommended BUY with a target price at ฿121.00/share.
Credit Suisse recommended BUY with a target price at ฿118.00/share.
KTBST recommended HOLD with a target price at ฿116.00/share.
Trinity Securities recommended HOLD with a target price at ฿114.00/share.
Tisco Securities recommended HOLD with a target price at ฿98.00/share.