Bank Islam undervalued but set to improve

PETALING JAYA: Bank Islam Malaysia Bhd is seen to be undervalued by the market, but analysts believe the Islamic bank’s valuation will improve post-restructuring of its parent, BIMB Holdings Bhd.

UOB Kay Hian Malaysia Research described Bank Islam’s implied valuation as “at steep discount”, despite its higher-than-industry return on equity (ROE) and loans growth