Expected government support due to the bank's high systemic importance. Strong franchise as the second-largest commercial bank in Thailand. Moderate capitalization. Evolving risk management practices. The stable outlook on Krung Thai Bank Public Co. Ltd. (KTB) reflects our expectation that the bank will sustain its current capitalization over the next 12-24 months. We expect KTB to maintain loan growth of less than 10% and a prudent dividend policy over the period. 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 the bank's asset quality materially weakens. Aggressive growth with loosening underwriting standards could weaken KTB's asset quality and capitalization. Conversely, we could upgrade the bank
