Banking, Maybank Ib, Positive Call, Asean Banks, Malaysia

Banking, Maybank Ib

‘Positive’ call on Asean banks

Maybank Investment has maintained its “positive” call on Asean banks, including banks in Malaysia.

24/9/2021 8:15:00 AM

Maybank Investment has maintained its “positive” call on Asean banks, including banks in Malaysia .

KUALA LUMPUR: Maybank Investment Bank Bhd (Maybank IB) has maintained its “positive” call on Asean banks, including banks in Malaysia , after the domestic consumption-centric economies in the region are seen to be making good progress in vaccinations.

“This should catalyse stronger domestic operating contributions through higher loan growth, margins and fees, especially in Indonesia, Malaysia and Vietnam,” it said in a research note yesterday.In terms of pre-provision operating profit (PPOP) growth, Maybank IB said the PPOP is set to grow 6% year-on-year (y-o-y) in 2021 and accelerate to 9% y-o-y regionally, led by Indonesia, Vietnam, Singapore and Malaysia.

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“Across the region, we estimate earnings momentum to close 2021 with a growth of 31% y-o-y, while 2022 should see an estimated growth of 19% on a higher base.“Indeed, signals were already evident in the first half of 2021 where we saw loans and net interest margins rebounding, particularly in Indonesia, Vietnam, Singapore and Malaysia,” it said. — Bernama

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