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Alliance Research maintains neutral call on AMMB
by Cals Mon 15 Apr 2013, 12:53
Alliance Research maintains neutral call on AMMB
Business & Markets 2013
Written by Bernama
Monday, 15 April 2013 12:41
A + / A - / Reset
KUALA LUMPUR (April 15): Alliance Research maintained a "neutral" call on AMMB HOLDINGS BHD [], with an unchanged target price of RM6.66, after its top management outlined the bank's future vision and strategic direction.
In a note, the research house said AMMB was consistent with the previous guidance outlined by the bank's management.
Among the salient points highlighted by AMMB Group Managing Director Ashok Ramamurthy were the bank's consistent focus on improving efficiency and productivity and, the scalability of the bank through the acquisition of Kurnia Insurans Bhd and MBF Cards.
"The acquisition of Kurnia Insurans and MBF Cards will allow AMMB to be more dominant in the market and remain open to further acquisitions to strengthen its foothold in the domestic market," it said.
Against this backdrop, Alliance Research is maintaining the earnings outlook for the group.
Business & Markets 2013
Written by Bernama
Monday, 15 April 2013 12:41
A + / A - / Reset
KUALA LUMPUR (April 15): Alliance Research maintained a "neutral" call on AMMB HOLDINGS BHD [], with an unchanged target price of RM6.66, after its top management outlined the bank's future vision and strategic direction.
In a note, the research house said AMMB was consistent with the previous guidance outlined by the bank's management.
Among the salient points highlighted by AMMB Group Managing Director Ashok Ramamurthy were the bank's consistent focus on improving efficiency and productivity and, the scalability of the bank through the acquisition of Kurnia Insurans Bhd and MBF Cards.
"The acquisition of Kurnia Insurans and MBF Cards will allow AMMB to be more dominant in the market and remain open to further acquisitions to strengthen its foothold in the domestic market," it said.
Against this backdrop, Alliance Research is maintaining the earnings outlook for the group.
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