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RHB Research maintains Neutral on AMMB, lowers fair value to RM8

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RHB Research maintains Neutral on AMMB, lowers fair value to RM8 Empty RHB Research maintains Neutral on AMMB, lowers fair value to RM8

Post by Cals Wed 21 May 2014, 17:14

RHB Research maintains Neutral on AMMB, lowers fair value to RM8
Business & Markets 2014
Written by theedgemalaysia.com   
Wednesday, 21 May 2014 08:33

KUALA LUMPUR (May 21): RHB Research has maintained its Neutral rating on AMMB Holdings Bhd with a lower fair value (FV) of RM8 (from RM8.35) and said AMMB’s 4QFY14 results were within house and consensus expectations with healthy net interest income, well-controlled costs and improved asset quality among the key positives.

In a note Wednesday, the research house said that non-interest income, however, slipped due to weaker insurance and markets-related income.

“AMMB targets stable bottomline growth for FY15.

“Maintain Neutral with GGM-derived FV of RM8.00 (vs RM8.35),” it said.
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