CIMB, ABMB Top Pick On Glowing Sector
CIMB, ABMB Top Pick On Glowing Sector
The Malaysian banking sector continues to shine with positive sentiment and robust prospects, prompting analysts to maintain an OVERWEIGHT call. This optimistic outlook follows Malaysia's second-quarter 2024 GDP growth of 5.9%, which surpasses the earlier forecast of 5.1%. This stronger-than-expected performance signals a more resilient economic environment, countering previous concerns about slowing growth due to inflationary pressures.
马来西亚银行业持续表现强劲,积极情绪和强劲前景持续存在,分析师仍看涨。这种乐观的前景是建立在马来西亚2024年第二季度GDP增长5.9%的基础上,超出了之前预测的5.1%。这种超出预期的表现表明经济环境更具韧性,抵抗了之前关于因通货膨胀压力导致的经济增长放缓的担忧。
Analysts are particularly encouraged by the impact of foreign direct investments (FDI) on the financial services sector with OVERWEIGHT call.
分析师特别鼓励外商直接投资(FDI)对金融服务业的影响,看涨银行业。
The influx of FDI, expected to enhance the wider supply chain, promises to support loan growth and bolster the financial sector's performance. System loans growth is anticipated to remain resilient, with a forecast range of 5.5%-6.0% for 2024, up from 5.3% in 2023. Additionally, improved employment prospects and higher civil servant incomes are expected to help maintain repayments and asset quality.
预期的外商直接投资流入将增强更广泛的供应链,承诺支持信贷增长和增强金融部门的表现。系统贷款增长有望保持强劲,在2024年预测区间为5.5%-6.0%,高于2023年的5.3%。此外,就业前景和更高的公务员收入预计将有助于维持还款和资产质量。
The analysts highlight CIMB and ABMB as top picks for investors, given their strong potential for solid returns and impressive dividend yields. CIMB is projected to achieve a target price of RM7.60, while ABMB is forecasted at RM4.60. RHBBANK, another notable mention, is anticipated to benefit from asset quality improvements, with a target price of RM7.25 and a promising dividend yield of approximately 7%.
分析师认为,CIMB和AMMB是投资者的首选,因为它们有着强大的实现可观回报和令人印象深刻的股息收益率潜力。CIMB的目标价预计为RM7.60,而AMMB的预测则为RM4.60。值得一提的是,另一家银行RHBBank有望从资产质量改善中受益,目标价为RM7.25,股息收益率约为7%。
The Bank Negara Malaysia (BNM) recently reported that the 2QCY24 GDP growth was primarily driven by a 12.0% increase in investment, with significant contributions from the service and manufacturing sectors. The construction sector also showed a robust 17% growth, supported by infrastructure projects and a net inflow of RM9.1 billion in FDI. Despite this positive performance, BNM has maintained its GDP forecast for 2024 at 4%-5% due to potential uncertainties from commodity price fluctuations and a weak MYR.
马来西亚银行(BNM)最近报告,2QCY24 GDP增长主要受到投资的12.0%增长驱动,服务和制造业部门的贡献显著。建筑业也显示出强劲的17%增长,受到基础设施项目和流入91亿令吉的外商直接投资的支持。尽管有这种积极表现,BNM仍将2024年GDP预测维持在4%-5%,原因是可能存在的商品价格波动和弱势马币的潜在不确定性。
The sector's outlook remains optimistic, with BNM noting potential upside risks from a tech up-cycle and faster implementation of investment projects. These factors could enhance investor interest in construction and utilities sectors, while also improving consumer sentiment and tourism activity.
该行业前景乐观,BNM注意到科技上升周期和投资项目更快的实施可能带来上行风险。这些因素可能增强投资者对建筑和公用事业部门的兴趣,同时提高消费者情绪和旅游活动。
The banking sector's performance is expected to remain strong, driven by continued demand for investment financing and corporate banking services. Household loans, including mortgages and hire purchases, are also anticipated to stay robust, supported by higher wages and improved economic opportunities. With a stable Overnight Policy Rate (OPR) of 3%, banks are well-positioned to adjust their asset yields and funding costs, further supporting sector growth.
银行业的表现预计将保持强劲,由于持续对投资融资和公司银行服务的需求。包括抵押贷款和分期付款的家庭贷款预计也将保持强劲,得益于更高的工资和改善的经济机会。由于过夜政策利率稳定在3%,银行有着良好的资产收益率和资金成本调整能力,进一步支持该行业增长。