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    ADVANC   TH0268010Z03

ADVANCED INFO SERVICE PUBLIC COMPANY LIMITED

(ADVANC)
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Advanced Info Service Public : Thai SCB, AIS shares jump over online lending JV

09/22/2021 | 03:08am EDT
FILE PHOTO: The logo of the Advanced Info Service Public Company Limited is pictured at an exhibition hall in Bangkok

BANGKOK (Reuters) - Shares in Thailand's third largest lender, Siam Commercial Bank Pcl (SCB) jumped in morning trading on Wednesday, following its announcement of a joint venture with the country's top mobile network, Advanced Info Service Pcl (AIS).

SCB and AIS late on Tuesday announced the creation of AISCB, to provide online lending via online platforms.

The announcement sent SCB's shares up nearly 5% when markets opened. AIS shares rose nearly 3% against a benchmark index gain of 0.1%.

"The joint venture will create financial products meeting wide-ranging demand with digital technology as the key driver," they said in a statement.

Analysts were positive on the partnership.

"This is the only digital lending proposition that has a chance of success in the long term," said Maria Lapiz, head of institutional research at Maybank Kim Eng, citing the telco's user base and infrastructure.

AIS, which has 43 million mobile subscribers in Thailand, will hold equal shares in the venture.

The bank could use insight from AIS's customer behaviour to support the underwriting process, said Finansia Syrus analyst, Yuvanart Suwanumphai.

SCB chief executive Arthid Nanthawithaya was scheduled to hold a news conference later on Wednesday.

Rival lender Kasikokrnbank Pcl began a digital lending push https://www.reuters.com/article/kasikornbank-line-jv-idUKL3N1YH2FO in with Japanese mobile chat app operator Line Corp and launched services last year.

(Reporting by Chayut Setboonsarng; Editing by Martin Petty)

By Chayut Setboonsarng


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADVANCED INFO SERVICE PUBLIC COMPANY LIMITED 0.00% 188 End-of-day quote.6.82%
THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED -1.20% 124 End-of-day quote.41.71%
All news about ADVANCED INFO SERVICE PUBLIC COMPANY LIMITED
10/21Advanced Info Service Public Company Limited Announces Committee Changes
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10/21Advanced Info Service Public Company Limited Announces Executive Changes
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10/18ADVANCED INFO SERVICE PUBLIC : AIS and LINE help shops reach customers with Real-time prom..
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10/15ADVANCED INFO SERVICE PUBLIC : AIS 5G rides Metaverse Human trend, highlighting digital te..
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10/11ADVANCED INFO SERVICE PUBLIC : AIS teams up with Siam Paragon and TKK to bring Robot Smart..
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10/11AIS 5G UNLOCKS THE POWER OF 5G TO LE : Crystal-clear voice over 5G SA network
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10/11ADVANCED INFO SERVICE PUBLIC : AIS pays third tranche of 1800 MHz licence Continues roll-o..
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10/01ADVANCED INFO SERVICE PUBLIC : Views on AIS' 31 years of its journey building digital infr..
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09/30ADVANCED INFO SERVICE PUBLIC : AIS 5G to offer all-new iPhone 13 Pro, iPhone 13 Pro Max, i..
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09/27ADVANCED INFO SERVICE PUBLIC : AIS 5G adds another jigsaw piece to V-AVENUE.CO, the world'..
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Financials
Sales 2021 175 B 5 250 M 5 250 M
Net income 2021 26 678 M 800 M 800 M
Net Debt 2021 72 462 M 2 172 M 2 172 M
P/E ratio 2021 20,9x
Yield 2021 3,70%
Capitalization 559 B 16 787 M 16 760 M
EV / Sales 2021 3,61x
EV / Sales 2022 3,40x
Nbr of Employees 8 778
Free-Float 31,7%
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Mean consensus BUY
Number of Analysts 21
Last Close Price 188,00 THB
Average target price 223,33 THB
Spread / Average Target 18,8%
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Managers and Directors
Somchai Lertsutiwong Chief Executive Officer & Executive Director
Weng Cheong Hui President & Chief Operating Officer
Tee Seeumpornroj Chief Financial Officer
Kan Trakulhoon Chairman
Surasak Vajasit Independent Director
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