Various Rating Actions Taken On Thai Banks On Rising Economic Weakness

We expect Thai banks' asset quality to deteriorate, credit losses to rise, and profitability to decline amid a sharp economic recession. We now consider that the economic risk trend for the country's banking system has turned negative. We are placing our ratings on KTB and KBank on CreditWatch with negative implications. We are also revising the outlook on SCB to negative, while affirming the rating on the bank. We are upgrading TMB because we consider the bank's systemic importance to have improved due to significant progress on the integration with Thanachart. The outlook on TMB is negative. SINGAPORE (S&P Global Ratings) Aug. 24, 2020--S&P Global Ratings said today that it has placed the long-term ratings on Krung Thai Bank Public

...+ We expect Thai banks' asset quality to deteriorate, credit losses to rise, and profitability to decline amid a sharp economic recession. We now consider that the economic risk trend for the country's banking system has turned negative. + We are placing our ratings on KTB and KBank on CreditWatch with negative implications. + We are also revising the outlook on SCB to negative, while affirming the rating on the bank. + We are upgrading TMB because we consider the bank's systemic importance to have improved due to significant progress on the integration with Thanachart. The outlook on TMB is negative. SINGAPORE (S&P Global Ratings) Aug. 24, 2020--S&P Global Ratings said today that it has placed the long-term ratings on Krung Thai Bank Public Co. Ltd. (KTB) and KASIKORNBANK PCL (KBank) and their notes on CreditWatch with negative implications. We have also placed the short-term rating on KTB on CreditWatch with negative implications. We also revised the outlook on Siam Commercial Bank Public...

Ratings Action