B’s keen on high dividend payout (70-80%) rather than buyback, aims to use capital to expand consumer credits (digital lending, credit card, auto title loan), firms on plan to pursue virtual banking license, low credit cost is vital under stagnant loan growth environment.

Comment: No surprises for why this is the case…until the government gets going SCB, under their holdco structure, will continually payout massive dividends until they can find some new engines of growth.

INTUCH & GULF: FY results out today, Bt13.51b & Bt18.67b consensus.

SVI: FY24 @ Bt1.39b, +50% yoy, beats Bt1.27b consensus, thanks to higher THB revenue from weak currency (USDTHB Bt35.45 in 4Q24 vs Bt33.89 yoy), pays Bt0.24 dps, XD Apr 23.

TIDLOR: FY24 @ Bt4.23b, +11% yoy, Inline with Bt4.22b consensus, omitted dividend for 4Q24.