TIDLOR Gains 4%, Analyst Expects Improved Loan Yield as Moratorium Program Ends

The share price of Ngern Tid Lor Public Company Limited (TIDLOR) closed 4.46% higher, or an increase of ฿1.75/share to ฿41.00/share on July 14, 2021, with a trading value of 962 million baht. 

Capital Nomura Securities (CNS) forecast TIDLOR’s 2Q21 earnings of 820 million baht, up 192% YoY, mainly due to 1) loan yield is expected to improve as the moratorium on debt repayments program to help those affected by Covid-19 ends, 2) revenue from the bancassurance business is forecasted to grow and 3) impairment loss determined in accordance with TFRS 9 is likely to improve by 5% QoQ. The NPL ratio is likely to climb modestly YoY to 1.55%. Thus, CNS has given a “BUY” recommendation on TIDLOR with a target price of 53 baht.