热门标签

猎球者(www.99cx.vip)_Strong earnings likely for banking sector in 2H

时间:4周前   阅读:66   评论:1

猎球者www.99cx.vip)是一个开放皇冠体育网址代理APP下载、皇冠体育网址会员APP下载、皇冠体育网址线路APP下载、皇冠体育网址登录APP下载的官方平台。猎球者上足球分析专家数据更新最快。猎球者开放皇冠官方会员注册、皇冠官方代理开户等业务。

,The sector is forecast to post strong earnings in the second half of the year (2H), on the back of higher net interest margins (NIM) with Bank Negara expected to normalise interest rates as the economy gains further traction.

PETALING JAYA: The fall of the financial index (KFIN) since early June is set to present a good buying opportunity for the local banking sector.

The sector is forecast to post strong earnings in the second half of the year (2H), on the back of higher net interest margins (NIM) with Bank Negara expected to normalise interest rates as the economy gains further traction.

Hong Leong Investment Bank Research (HLIB Research) noted that the recent price correction offers a good opportunity to accumulate on weakness, as the sector is forecast to deliver back-to-back profit growth.

Additionally, the return on equity for 2023 is projected to recover to 9.7%, similar to 2018 levels when the sector was trading at a higher valuation of 1.30 times its price-to-book value versus 0.89 times now.

“This implies undervaluation. We have not baked in any preemptive provisioning write backs into our estimates, suggesting upside risk.

“In addition, the sector offers a fairly attractive dividend yield of 4.8%,” HLIB Research said in a report yesterday.

The KFIN fell from a high of 16,910 points on May 31 to a low of 15,878 points on June 6, in line with the broader market weakness as it suffered the effects of contagion from the sell-off on major global markets.

HLIB Research also expects investor appetite for the banking sector to return in an interest-rate upcycle that favours value stocks over growth stocks.

The research outfit advised a selective buying strategy in 2H with a focus on high dividend yield, attractive valuation or sector laggards.

It recommends Malayan Banking Bhd for its strong dividend yield and has a target price (TP) of RM9.70 on the country’s largest banking group.

The research house likes RHB Bank Bhd for its strong capitalisation with its high CET1 ratio and attractive price tag.

HLIB Research has a target price of RM7 a share on RHB.

With the sector’s risk-reward profile skewed to the upside from the combination of robust profit growth and undemanding valuations, it also recommends that investors consider small-sized banks like Bank Islam Malaysia Bhd for its structural growth drivers and laggard share price response (TP: RM3.30).

It also likes Affin Bank Bhd (TP: RM2.35) for its strong financial metrics and potential offer of a special dividend, following the sale of its stakes in asset management and insurance businesses.

HLIB Research expects the banking sector’s 2022 sector profit to expand 3.7% on broader NIM and lower net credit cost.

It noted that a further hike in the overnight policy rate (OPR) by Bank Negara will benefit banks following the 25-basis-point rise in May.

上一篇:Portugal's EDP betting on floating solar farms in Southeast Asia

下一篇:皇冠平台出租(www.hg108.vip)_Are we on track to implement a circular economy for plastic in Malaysia?

网友评论

  • 2022-11-05 00:07:14

    个子矮的女生要想显瘦得话,就一定要挑选高身材曲线的设计方案。而高身材曲线能够 根据形式多样反映。除开一些修身养性的款式设计方案,也有一些高腰裤的样式来装点。如同这组穿搭中,运用了高腰裤的骑行裤,将衬衫塞入骑行裤里边,刻画出苗条腰围,衬得两腿也更为苗条。觉得缺点什么