Share Price: RM5.73 | Target Price: RM6.33 | Rating: Buy
AMBANK’S FY25 Q3 results in line with expectations, supported by provision writebacks. Its capital position remains strong, with further optimisation of Risk Weighted Assets potentially enhancing CET1 ratio. UOBKH upgrades AMBANK to BUY adjusting its target price from RM5.74 to RM6.33 (0.98x FY26F P/BV and 9.8% ROE), reflecting a lower Cost of Equity assumption to reflect its improved capital position and capital management potential.
AMBANK Results Update for Q4 Ending 31/3/24
Research House: UOB Kay Hian Investment Bank (UOBKH)
Analyst: Keith Wee Teck Keong
FY2025 Forecast: Net Profit: RM1,942m | EPS: RM0.586 | DPS: RM0.321