External broker reports(aggregated public sources), Public Investment Bank Bhd

Public Investment Bank Bhd

Public Investment Bank Berhad provides investment banking services. The Company offers corporate finance, banking, securities financing, capital market, treasury, and advisory services.

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External broker reports(aggregated public sources)

Malaysian Banks June 2022 Screener; CIMB Is Our New Value Pick

Equity Bottom-Up

<ul><li>The Group reported a strong core net profit of RM1.43bn (+9.6% YoY), on a combination of healthier topline growth and lower loan loss charges.</li><li>3MFY21 net profit is ahead of our and consensus expectations at 30% of full-year estimates, though we err on the side of conservatism and keep estimates unchanged for now in light of prevailing macroeconomic challenges.</li><li>Near-term asset quality concerns notwithstanding, we continue to remain optimistic over CIMB’s longer-term prospects underpinned by its F23+ initiatives and retain our Outperform call with an unchanged target price of RM6.00.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Group reported a strong core net profit of RM1.43bn (+9.6% YoY), on a combination of healthier topline growth and lower loan loss charges.3MFY21 net profit is ahead of our and consensus expectations at 30% of full-year estimates, though we err on the side of conservatism and keep estimates unchanged for now in light of prevailing macroeconomic challenges.Near-term asset quality concerns notwithstanding, we continue to remain optimistic over CIMB’s longer-term prospects underpinned by its F23+ initiatives and retain our Outperform call with an unchanged target price of RM6.00.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cimb Group Holdings Berhad - Helped By Lower Provisions

CIMB Group Holdings

Cimb Group Holdings Berhad - Helped By Lower Provisions