KUALA LUMPUR, March 8 — Maybank Investment Bank expects net interest margins to flatten or slightly contract in 2022 amid a slower current account saving account growth and increased deposit competition.
“We expect higher tax under Cukai Makmur to offset lower credit costs and project a slight 1.0 per cent contraction in cumulative core net profit. Positively though, dividend payout ratios are normalising with upside surprises if they return to pre-Covid levels,” the bank said in a research note today.
“Excluding the impact of Cukai Makmur, we expect cumulative core net profit to expand 7.0 per cent in 2022 and 8.0 per cent in 2023.
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