Siam Commercial’s analysts’ rating tumbled to 3.4 out of a maximum 5 points, the worst after Malaysia’s Public Bank Bhd. FMTNews Asia
BANGKOK: Siam Commercial Bank Pcl, one of Southeast Asia’s largest lenders, has fallen out of favor with securities analysts after reporting fourth-quarter results that raised concerns about loan quality.
As recently as Jan 17, the consensus on Siam Commercial was 4.2, which ranked seventh, based on 29 ratings. Each “buy” recommendation counts as 5 points, with 3 points for “hold” and 1 point on “sell.” “Thailand’s economy in 2020 is still surrounded by negative factors,” said Therdsak Thaveeteeratham, an analyst at Asia Plus Securities Co. “Asset quality is still at risk and needs to be watched closely.”
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