RHB Research reiterates a ‘buy’ call on Maybank’s shares

RHB Research Institute said that Maybank remains one of their preferred picks for exposure to Malaysian banks. — Picture by Yusof Mat Isa
RHB Research Institute said that Maybank remains one of their preferred picks for exposure to Malaysian banks. — Picture by Yusof Mat Isa

KUALA LUMPUR, Feb 8 — The RHB Research Institute reiterates a ‘buy’ on Malayan Banking Bank Bhd’s (Maybank) shares with an unchanged target price of RM11.00.

“Maybank remains one of our preferred picks for exposure to Malaysian banks,” it said in a note today, adding that Maybank is scheduled to release its 2018 fourth quarter (4Q18) results on February 26.

“We see risk of a slight miss, due to a weaker-than-expected non-interest income. That said, asset quality remains stable,” it said.

RHB Research saw uncertainty in global growth as a key concern for 2019.

It said domestically, there are now some policy certainties from the new government although more should be done.

“Maybank expects growth in consumer lending, albeit less robust than in previous years. Deposit competition remains keen and management indicated its readiness to raise rates when necessary,” said RHB Research.

At 10.26am, Maybank’s stocks were one sen easier at RM9.58 with 1,784,400 shares exchanging hands. — Bernama

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