Thai banks receive credit outlook upgrades and industry awards

Fitch Ratings has upgraded the long-term foreign currency issuer default rating (IDR) outlook to ‘stable’ for five major Thai banks, moving from a previously ‘negative’ outlook. The affected institutions include Export-Import Bank of Thailand (EXIM) with a ‘BBB+’ rating, Krungthai Bank (KTB) at ‘BBB+’, TMBThanachart Bank (TTB) at ‘BBB’, Standard Chartered (Thai) (SCBT) at ‘A-’, and UOB Thailand (UOBT) at ‘A-’. Bangkok Bank (BBL) also maintains a ‘BBB’ rating with a ‘stable’ outlook.

This adjustment follows Fitch’s decision to upgrade Thailand’s sovereign credit outlook from ‘negative’ to ‘stable’. Fitch maintained government support ratings for EXIM, KTB, TTB, and BBL, as well as shareholder support ratings for SCBT and UOBT.

Separately, Kasikornbank has been named ‘Thailand’s Best Bank’ for 2026 by Euromoney. This marks the third consecutive year and the fourth time in five years that the bank has received this recognition. The award highlights the bank’s financial performance, digital innovation via platforms like K PLUS, and its implementation of ESG and sustainability strategies.