Thursday, April 21, 2016

Affin Hwang Capital Daily Insight (LV) - 21 April 2016 - PBBANK / ECONOMY - CPI

Top Calls

Results Note Public Bank (BUY, maintain)

- No negative surprises, 1Q16 remains intact

PBB
s 1Q16 net profit was within our expectation, supported by both robust fund-based income and non-interest income growth. Loans and deposits continued to grow ahead of the industry. Maintain BUY, with TP unchanged at RM21.80 (based on 2.5x P/B).


Other Calls

Economy CPI

- Headline inflation improves to 2.6% yoy in March



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

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