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

Public Investment Bank Bhd

External broker reports(aggregated public sources)

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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Equity Bottom-Up

<ul><li>CIMB Niaga saw another strong quarter in 2QFY23 with a net profit of Rp1.65tln (+23.3% YoY, +4.5% QoQ) reported.</li><li>Improvements continued to be seen all round, with non-interest income growth particularly strong (+10.5% YoY, +2.0% QoQ), as loan loss provisions (-18.8% YoY, +4.1% QoQ) remain relatively steady.</li><li>Encouragingly, management has raised its Return on Equity (ROE) target for 2023 to between 14% and 16% (12% to 14% previously), indicative of its confident outlook for the year. </li></ul>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 Niaga saw another strong quarter in 2QFY23 with a net profit of Rp1.65tln (+23.3% YoY, +4.5% QoQ) reported.Improvements continued to be seen all round, with non-interest income growth particularly strong (+10.5% YoY, +2.0% QoQ), as loan loss provisions (-18.8% YoY, +4.1% QoQ) remain relatively steady.Encouragingly, management has raised its Return on Equity (ROE) target for 2023 to between 14% and 16% (12% to 14% previously), indicative of its confident outlook for the year. 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.

<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>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.

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

Malaysia

CIMB Group Holdings Berhad provides commercial banking and related financial services. The Company and its subsidiaries, operate as a regional universal bank offering a full range of financial products and services, covering corporate and investment banking, consumer banking, treasury, insurance and asset management.

CIMB Group Holdings (CIMB MK)

CIMB Niaga: Another Strong Quarter

Encouragingly, management has raised its Return on Equity (ROE) target for 2023 to between 14% and 16% (12% to 14% previously), indicative of its...

Public Investment Bank Bhd

Cimb Group Holdings Berhad - Helped By Lower Provisions

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.

Public Investment Bank Bhd