💡 Malaysia Banks: 2Q24 preview – Writebacks?
Macquarie Equities Research (MQ Research) released a report on 16 August, previewing the second quarter (2Q24) earnings season for the banking sector. MQ Research highlighted a positive 2Q24 curtain raiser, which is that preliminary sector profit before tax improved +21% quarter-on-quarter (q/q), driven by a sharp -61% q/q drop in credit costs.
MQ Research stated that CIMB is expected to announce a special dividend, while Public Bank and Hong Leong Bank (HLBK) are most likely to book writebacks. MQ Research underlined some positive statistics, such as net interest margins expansion by +2.5 basis points (bps) q/q on +1.2% loan growth, while overheads stabilised at +3.9% year-on-year.
Macquarie Warrants Malaysia’s call warrants AMBANK-C46, CIMB-C1Q, MAYBANK-C1H and PBBANK-C1C are available, allowing investors to gain leveraged exposure to these banking stocks at a fraction of their share price.
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The official account of Macquarie Warrants Malaysia
Macquarie, a leading warrant issuer in Asia, provides state-of-the-art market making, education on warrants, and an array of tools for warrant traders. Macquarie Warrants Malaysia issues and market makes structured warrants listed on Bursa Malaysia. The content on this channel has not been reviewed by the Securities Commission Malaysia | Contact: 03-20598840 | Disclaimer : bit.ly/MQdisclaimer
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