Share Price: RM19.90 | Target Price: RM22.80 | Rating: BUY
FY2025E: NPAT: RM4,393m | EPS: RM2.14 | DPS: RM0.730
FY2025E: NPAT: RM4,393m | EPS: RM2.14 | DPS: RM0.730
HLBank 3Q25 Results Update (MIB)
HL Bank’s 9MFY25 results were below expectations and we have trimmed
our FY25/26/27E earnings by 3-6% respectively, largely on account of
lower earnings estimates from Bank of Chengdu (BOCD). Our TP is lowered
to MYR22.80 from MYR24.30. Nevertheless, we continue to like HL Bank
for its strong asset quality, liquid balance sheet and management’s
proactive stance in driving faster domestic growth.
Report Date 29/5/25
Research House: Maybank Investment Bank (MIB)
Analyst: Desmond Ch’ng
Key Forecasts:
FY2025: Net Profit: RM4,393m | EPS: RM2.14 | DPS: RM0.73
FY2026: Net Profit: RM4,541m | EPS: RM2.22 | DPS: RM0.78
Target Price reduced from RM19.90 to RM22.80. EPS Forecast for FY2025 were slightly reduced while FY2026 EPS and DPS tweaked upwards.
Research House: Maybank Investment Bank (MIB)
Analyst: Desmond Ch’ng
Key Forecasts:
FY2025: Net Profit: RM4,393m | EPS: RM2.14 | DPS: RM0.73
FY2026: Net Profit: RM4,541m | EPS: RM2.22 | DPS: RM0.78
Target Price reduced from RM19.90 to RM22.80. EPS Forecast for FY2025 were slightly reduced while FY2026 EPS and DPS tweaked upwards.