Thursday, 18 Jun 2020 05:14 PM MYT
The research house said banks’ first quarter 2020 core earnings growth based on six banks, namely Maybank, Public Bank, RHB Bank, Hong Leong Bank, BIMB, and CIMB, slipped 11.3 per cent year-on-year.AmBank Research said earnings of Maybank, Public Bank, RHB Bank, Hong Leong Bank, and BIMB were within its expectations, while that of CIMB were below estimates due to higher provisions and weaker non-interest income .
“We continue to expect the industry loan growth to be two per cent in 2020 versus 3.9 per cent in 2019. “Recall, interest will continue to be accrued for individual and SME loans except for fixed rate financing despite no payments from the borrowers,” AmBank Research added. “Regionally, Thailand, Indonesia and the Philippines have kept their interest rates unchanged in April and May. For 2020, we expect NIM for the sector to be compressed by six basis points and a lower NIM contraction of one — two basis points on average in 2021,” the research house said.
Belgique Dernières Nouvelles, Belgique Actualités
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