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(Kuala Lumpur, March 3) The overall performance of the banking industry in the second quarter of 2024 is good. Analysts predict that the net interest margin will stabilize in the future, and the prospects for profit growth remain bright, maintaining a positive rating.
According to Malayan Banking Investment Bank's latest report, based on its tracking of bank stocks, the core net profit of China's banking industry grew by 9% year-on-year in the first half of the year, mainly due to the continuous growth of operating profit by 7% and stable credit costs.
Therefore, analysts maintain a growth forecast of 7.6% in operating profit for the whole year of 2024.
This is mainly based on the forecasted domestic loan growth of 5.5%, average net interest margin expected to be 2.07%, non-interest income ratio of 25.1%, and cost-to-income ratio (CIR) forecasted to be 44.7%.
Taking into account the support of lower credit costs, namely 22 basis points, lower than 23 basis points in 2023, we have raised our core net profit growth expectation from 6.8% to 7.8%, while the average return on equity (ROE) of the banking industry is expected to be 10.4%.
Subtask: Low inflation can be maintained this year.
Analysts pointed out that the overall inflation rate last year was 2.5%. The bank's economists have lowered their inflation forecast for 2024 from the previous 3% to 2%, and expect inflation in 2025 to be in the range of 2.5% to 3%, due to the expected implementation of targeted fuel subsidies next year.
Although the current deposit interest rate has a positive return, given the prospect of rising inflation next year, it means that the central bank is unlikely to cut interest rates in the short term...
According to Malayan Banking Investment Bank's latest report, based on its tracking of bank stocks, the core net profit of China's banking industry grew by 9% year-on-year in the first half of the year, mainly due to the continuous growth of operating profit by 7% and stable credit costs.
Therefore, analysts maintain a growth forecast of 7.6% in operating profit for the whole year of 2024.
This is mainly based on the forecasted domestic loan growth of 5.5%, average net interest margin expected to be 2.07%, non-interest income ratio of 25.1%, and cost-to-income ratio (CIR) forecasted to be 44.7%.
Taking into account the support of lower credit costs, namely 22 basis points, lower than 23 basis points in 2023, we have raised our core net profit growth expectation from 6.8% to 7.8%, while the average return on equity (ROE) of the banking industry is expected to be 10.4%.
Subtask: Low inflation can be maintained this year.
Analysts pointed out that the overall inflation rate last year was 2.5%. The bank's economists have lowered their inflation forecast for 2024 from the previous 3% to 2%, and expect inflation in 2025 to be in the range of 2.5% to 3%, due to the expected implementation of targeted fuel subsidies next year.
Although the current deposit interest rate has a positive return, given the prospect of rising inflation next year, it means that the central bank is unlikely to cut interest rates in the short term...
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$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$
Do you guys think today’s bullish trend will be continued for the week or is just a random rebound that will not continue tomorrow
I need second opinions to make my decision on whether to minimize risk. I am 21, after a few successful side hustles, part time jobs and allowance savings I’ve managed to saved near 30k for investing, YTD i managed to increase my portfolio by around 40%.
for context:
i am a swing trader with majority of my portfolio consisti...
Do you guys think today’s bullish trend will be continued for the week or is just a random rebound that will not continue tomorrow
I need second opinions to make my decision on whether to minimize risk. I am 21, after a few successful side hustles, part time jobs and allowance savings I’ve managed to saved near 30k for investing, YTD i managed to increase my portfolio by around 40%.
for context:
i am a swing trader with majority of my portfolio consisti...
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Bursa Malaysia closed lower today, with the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ dipping 13.20 points, or 0.81%, to 1,611.05. The market was dragged down by broad-based selling in tandem with a regional slump, as investors remained cautious about slowing US economic growth and expectations of another rate hike in Japan.
Key Highlights
• Opening and Range: The $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ opened 4....
Bursa Malaysia closed lower today, with the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ dipping 13.20 points, or 0.81%, to 1,611.05. The market was dragged down by broad-based selling in tandem with a regional slump, as investors remained cautious about slowing US economic growth and expectations of another rate hike in Japan.
Key Highlights
• Opening and Range: The $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ opened 4....
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G'day, mooers! Check out the latest news on today's stock market!
• The S&P 500 fell Tuesday, dragged lower by declines in megacap tech stocks, as investors braced for quarterly reports from names in that cohort. Traders also set their eyes on Washington as the Federal Reserve began its latest policy meeting.
• Australian shares opened higher before the key June quarter inflation data to gauge whether further tightening fr...
• The S&P 500 fell Tuesday, dragged lower by declines in megacap tech stocks, as investors braced for quarterly reports from names in that cohort. Traders also set their eyes on Washington as the Federal Reserve began its latest policy meeting.
• Australian shares opened higher before the key June quarter inflation data to gauge whether further tightening fr...
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