Monday, August 1, 2016

Company Update � CIMB Group (BUY, maintain)

Top Calls

Company Update CIMB Group (BUY, maintain)

- Indonesia a glimpse to better results ahead

CIMB Niaga released a stronger set of results for 2Q16. We remain convinced that CIMB Group is on track for an earnings recovery and the Group
s 2Q16 results could be the catalyst for the re-rating of its currently distressed valuations. Maintain BUY on CIMB with our TP at RM5.00.

For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports.

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