SAK raises growth outlook, sells bonds, wins broker upgrade
Loan growth now seen beating target SAK says its loan book already tops 15 billion baht and full-year growth will exceed its 15.5–16 billion baht target, helped by farmer loans for oil palm, rubber, cassava and corn. More lending means more interest income, which supports the share price.
This is the newest and strongest signal that the company's core business is growing faster than promised.
3 billion baht bond fully subscribed SAK sold a new 3 billion baht bond that was fully taken up, giving it cash to lend more. The bond pays 5.60% interest, which raises funding costs, but the company expects extra lending to more than cover that.
It shows SAK can raise money to fund growth, a key enabler of the loan expansion story.
Broker upgrade and higher target price Kasikorn Securities upgraded SAK to buy and lifted its target price 15% to 3.9 baht, citing better-than-expected loan growth and a 6.1% dividend yield. It also raised profit forecasts for 2026–2028, which can draw more investors.
A fresh analyst upgrade directly changes how the market values the stock.
Profit up but NPL risk and El Niño loom First-half profit rose 3.4% to 454 million baht, yet the bad-loan ratio edged up to 2.7% and SAK warns El Niño and higher diesel and fertiliser costs could hurt farmers later this year. Rising credit costs may cap gains even as loans grow.
It is the main counterweight: growth is real, but asset-quality and weather risks could slow it.