Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
Affin Research raised its target price on Public Bank Bhd to RM16.20 from RM15.70 after the company's earnings for the year ended Dec. 31 came within expectations.
The company reported a "moderate" 5 per cent jump in its net profit at RM3.9 billion, driven by Islamic Banking and non-interest income.
"Being a predominantly domestic, retail-based lender with top market positions in household and small-to-medium enterprise financing, we continue to forecast a healthy net earnings growth of 11.8 per cent for this year," Affin said in a report on Thursday.
The brokerage maintained its 'add' rating on Public Bank. Shares of Public Bank were down 0.76 per cent at RM15.60 as of 0903am (0103GMT) while the benchmark index was down 0.63 per cent. -- Reuters
Company Name: PUBLIC BANK BHD
| Research House: AFFIN | Price Call: TRADING BUY | Target Price: 16.20 |
Affin Research raised its target price on Public Bank Bhd to RM16.20 from RM15.70 after the company's earnings for the year ended Dec. 31 came within expectations.
The company reported a "moderate" 5 per cent jump in its net profit at RM3.9 billion, driven by Islamic Banking and non-interest income.
"Being a predominantly domestic, retail-based lender with top market positions in household and small-to-medium enterprise financing, we continue to forecast a healthy net earnings growth of 11.8 per cent for this year," Affin said in a report on Thursday.
The brokerage maintained its 'add' rating on Public Bank. Shares of Public Bank were down 0.76 per cent at RM15.60 as of 0903am (0103GMT) while the benchmark index was down 0.63 per cent. -- Reuters
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