DESPITE the run-up in the share price of banks, there is still a great deal of upside to a number of them. ING Financial Markets believes bank valuations are still far from their peaks.
In a report on the Malaysian banking sector dated Feb 9, ING contends that the appreciation of share prices aside, current sector valuations on price-to-book value (PBV), price-underlying profit (PUP), and price earnings ratio (PER) are still off their historical peaks.
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