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Maybank sees "modest pickup" of earnings for banking sector in 2014
by hlk Thu 05 Dec 2013, 12:56
Business & Markets 2013
Written by Jonathan Gan at theedgemalaysia.com
Thursday, 05 December 2013 11:48
A + A - Reset
KUALA LUMPUR (Dec 5): Maybank Investment Bank has maintained its neutral
outlook on the banking sector, but expects a modest pickup in 2014.
The research house said the recent rebound in business loan growth offers
some hope to corporate lending momentum, which will offset slower consumer
loan demands in 2014.
It expects industry loan growth to hold up at 9.6% in 2014 and interest rates to
remain the same next year.
“Looking to 2014, we expect earnings momentum to pick up with operating
profit growth rebounding to 11.9% from 7.5% in 2013. Net profit growth is
expected to gather pace to 9.8% from 5.1% in 2013,” it said in the note.
Maybank IB's preferred stocks for the sector include AMMB, Hong Leong
Financial Group and Hong Leong Bank.
Written by Jonathan Gan at theedgemalaysia.com
Thursday, 05 December 2013 11:48
A + A - Reset
KUALA LUMPUR (Dec 5): Maybank Investment Bank has maintained its neutral
outlook on the banking sector, but expects a modest pickup in 2014.
The research house said the recent rebound in business loan growth offers
some hope to corporate lending momentum, which will offset slower consumer
loan demands in 2014.
It expects industry loan growth to hold up at 9.6% in 2014 and interest rates to
remain the same next year.
“Looking to 2014, we expect earnings momentum to pick up with operating
profit growth rebounding to 11.9% from 7.5% in 2013. Net profit growth is
expected to gather pace to 9.8% from 5.1% in 2013,” it said in the note.
Maybank IB's preferred stocks for the sector include AMMB, Hong Leong
Financial Group and Hong Leong Bank.
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