"Nonetheless, M&As within the sector could create interest and drive valuationshigher while the upcoming implementation of the new ‘Base Rate’ by Jan-15 isexpected to mitigate banks’ NIM compression given improved pricing under thenew interest rate framework," it said in a note on Friday.
Affin said it likes AFG and HLB, for their consumer- andSME-focused business models and compelling valuations, while Maybank remains asolid banking group, well-capitalised and with a strong IB platform via Maybank-KimEng and offer an attractive 5.6% dividend yield.
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