Strong franchise as the second-largest commercial bank in Thailand. Expected government support due to the bank's systemic importance. Moderate capitalization. Evolving risk management practices. The rating outlook on Krung Thai Bank Public Co. Ltd. (KTB) is stable, reflecting our expectation that the bank is likely to maintain its current level of capital and earnings over the next 12-24 months, supporting its financial profile. We could lower the rating if we expect KTB's pre-diversification risk-adjusted capital (RAC) ratio to deteriorate below 5% on a sustained basis or if KTB's asset quality materially weakens. Alternatively, we could upgrade the bank if its business profile improves significantly through greater revenue diversity. Standard&Poor's Ratings Services bases its rating on KTB on the
