Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
Solid results. 2011 results were yet another testament to Public Bank's solid management capabilities and its unwavering position as Malaysia's premier retail bank. 4Q11 net profit rose 4% YoY to RM877m, contributing to a full-year earnings growth of +14% YoY to RM3.48b. Public Bank continues to be a safe haven amid current volatility, with impeccable fundamentals. Our Buy call is unchanged, as is our TP of RM14.60 (2012 P/BV of 2.8x, ROE: 22.3%).
Maybank Research 31 Jan 2012
Click here for full report
Company Name: PUBLIC BANK BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 14.60 |
Solid results. 2011 results were yet another testament to Public Bank's solid management capabilities and its unwavering position as Malaysia's premier retail bank. 4Q11 net profit rose 4% YoY to RM877m, contributing to a full-year earnings growth of +14% YoY to RM3.48b. Public Bank continues to be a safe haven amid current volatility, with impeccable fundamentals. Our Buy call is unchanged, as is our TP of RM14.60 (2012 P/BV of 2.8x, ROE: 22.3%).
Maybank Research 31 Jan 2012
Click here for full report
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