Share Price: RM5.73 | Target Price: RM6.45 | Rating: Buy
AMBANK’s FY25 9 Mth results were within expectations largely on account of lower-than-expected credit cost. Maybank Investment Bank raises its FY25/26/27E net profit forecasts by 2% tweaking both credit cost and NIM. Correspondingly. Target Price is raised from RM6.30 to MYR6.45 based on a target CY25 PBV of 1.0x (0.98x previously). BUY maintained.
AMBANK Results Update for Q4 Ending 31/3/24
Research House: Maybank Investment Bank (PIB)
Analyst: Desmond Ch’ng
FY2025 Forecast: Net Profit: RM1,978m | EPS: RM0.60 | DPS: RM0.30