While the bank has guided for NIM compression of 15bps in FY20, the research house raised its assumption to 15bps from 11bps.
KUALA LUMPUR: Maybank Investment Bank Research sees Public Bank has one of the strongest fundamentals in Malaysia, but it sees little catalyst to rerate the stock.
It said on Wednesday Public Bank’s 1Q20 results showed weakness YoY as expected and it expects net interest margin (NIM) compression and higher credit costs to continue to weigh on earnings over the next few quarters.
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