KBank Research cut its 2026 Thai GDP forecast to 2%, with growth slowing to 1.7% in H2 as private consumption weakens under high energy prices and exports slow. SME loans are forecast to contract 4.8% this year (from -4.5%), while big-business credit grows 5.6%. Banks are restructuring debt heavily, but about 19 in 100 restructured borrowers return within a year. Expect banks to favour strong, investing borrowers for working capital. Bond yields are rising globally, which will make bond issuance harder for low-rated firms.