BANGKOK, Thailand – Thailand’s banking sector is emerging as one of the strongest performers in the stock market, with continued fund inflows pushing the combined market value of 12 commercial banks to 2.85 trillion baht, an increase of more than 576 billion baht during the first six months of 2026. Bank stocks have outperformed the broader market due to several positive factors, including investor confidence ahead of second-quarter earnings announcements, improving private sector investment, and foreign capital flowing into Thai equities. Among the country’s major banks, Krungthai Bank (KTB) has achieved a major milestone by becoming the largest bank by market capitalization, overtaking rivals including Siam Commercial Bank (SCB) and Kasikornbank (KBANK).
As of July 6, 2026, KTB’s market capitalization reached 548.56 billion baht, ahead of KBANK at 542.58 billion baht, SCB at 510.12 billion baht, and Bangkok Bank (BBL) at 363.63 billion baht. Payong Srivanich, CEO of Krungthai Bank, said the achievement reflects growing investor confidence in the bank’s strategic direction and its ability to deliver sustainable growth. He said KTB’s rise represents a significant transformation for the bank, which traditionally ranked behind other major commercial banks in market value. He credited the turnaround to continuous growth after the COVID-19 crisis and the success of the bank’s digital transformation strategy.
Payong highlighted KTB’s investment in technology and its dual digital approach through Krungthai NEXT and Paotang, which have expanded access to financial services and strengthened the bank’s connection with millions of users nationwide. He said the next challenge for KTB is building a stronger regional presence and finding new growth opportunities beyond Thailand, as the country faces slower economic expansion, an ageing population, and changing market conditions. Analysts said several factors are supporting bank stocks this year, including expectations of improved loan growth after several years of weak expansion, stronger corporate investment, and increased foreign investment flows into Thailand.
Thanadet Rangsithananon, research director at Pi Securities, said large corporate lending has shown signs of recovery, while global investment themes such as electric vehicles, data centers, and technology industries are also helping attract capital into Thailand. Analysts also pointed to KTB’s strong dividend performance, improved profitability, and large digital user base as key reasons behind investor interest.
