TMBThanachart Bank Sets Aside 14 Billion Baht for Share Buyback at 2.63 Baht
Key Facts
TMBThanachart Bank’s board approved 14 billion baht for its fifth share buyback program through a public tender offer to shareholders on October 22, 2026, according to a disclosure to the Stock Exchange of Thailand. The disclosure sets the offer price at 2.63 baht per share, with the purchase period running from November 16 to 27. The bank aims to buy up to 5,622,592,539 shares, equivalent to 5.76% of paid-up capital. The bank said the public tender offer method limits uncertainty caused by market volatility and reduces disruption to normal trading in the secondary market. The program is part of capital management and efforts to enhance shareholder returns, according to the bank, without linking it to the exit of any specific shareholder.
The target ranges from 5,323,291,035 to 5,622,592,539 shares, representing 5.46% to 5.76% of issued shares. The program’s upper limit sets a clear cap on the number of shares the bank may buy back, while the exchange disclosure records a final price of 2.63 baht per share. This gives shareholders a defined participation period and announced price ahead of the start of purchases in November. The number of shares actually bought will depend on what is executed during that period.
The program is the fifth round in a buyback plan that originally extends to 2028, and the bank described the early execution of previous rounds as allowing shareholders to benefit ahead of the original timetable. The launch of this round does not mean the broader plan has ended; it is a new round within it. This provides a framework for assessing the scale of the buyback alongside its goal of enhancing shareholder returns. In its description of the program, the bank did not cite an objective related to an ING exit.
ING has said its participation in a sale through the buyback program in June reduced its stake in the bank from 23.1% to 19.5% and generated a total return of about 243 million euros. In August, the group expected a private placement to institutional investors to reduce its stake from 19.5% to 11.6%, excluding shares held by the bank in treasury. These transactions provide context for the change in the Dutch shareholder’s stake, but they do not make the new public offer a stated vehicle for its exit; the bank has not linked the program to that purpose. The bank’s description of the move remains focused on capital management, shareholder returns and reducing disruption to secondary-market trading.
Net profit attributable to the bank’s shareholders reached 5,456.664 million baht in the third quarter of 2026, compared with 5,299.085 million baht in the same period of 2025. In the first nine months of 2026, the bank posted profit of 16,139.421 million baht, versus 15,399.365 million in the corresponding period a year earlier. The board also approved an interim cash dividend of 0.081 baht per share in August for the first half, which was paid on September 25. These figures provide context for the buyback announcement, which adds a capital option alongside cash distributions to shareholders.
The announcement followed a decline in the shares, which fell 6.21% on October 20 and then dropped 0.74% on October 21, according to historical trading data from the Stock Exchange of Thailand. The trading record does not identify the reason for the decline, so what can be observed is limited to the share price movement on the two days before the board’s decision. The bank is scheduled to hold a call to present its third-quarter results on October 27, from 11:15 to 12:00 local time. The call comes before the announced buyback period begins in November and provides a near-term opportunity to present the bank’s results to investors.