Bangkok Bank Target Price THB187 Kim Eng Research

Bangkok Bank's quarterly loan growth 14% year-on-year and 4% quarter-on-quarter was supported by demand for working capital loans and retail loans. Starting in 1Q, the banking sector is now booking dividend income as other income and fees and non-interest income net of expenses. Target price is THB187 which is based on a P/BV of 1.43 times FY2001F ending 31 Dec.