DBS Vickers Securities says bank dividend stocks average 6%, picks KBANK and KTB as top choices

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DBS Vickers Securities released an analysis noting that Thai bank stocks remain attractive, expecting the sector's average dividend yield in 2026 to be around 6%, higher than the stock market average of about 3%. It also expects that in 2027 the banks will continue to maintain high dividend payouts because their capital bases remain strong, with an average Tier 1 capital ratio of about 17%, above the Bank of Thailand's minimum requirement of 12%. Looking at individual banks, SCB is expected to have the highest dividend yield in the group at 6.7%, followed by KTB and TISCO at 6.3% and KKP at 6.1%, while TTB and KBANK still have additional upside if leftover funds from share buyback programs are used to pay extra dividends. The research team maintains an "overweight" investment rating on the banking sector, selecting KBANK and KTB as top picks, with a target price for KBANK of 270 baht based on its strength in wealth management, and a target price for KTB of 50 baht based on its strong asset quality.

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