RHB Bank on track for earnings recovery

In its recently released 3QFY20 results, RHB’s profit after tax and minority interests (PATMI) of RM622mil met expectations despite 9MFY20 PATMI of RM1.6bil at 82% to 83% of Kenanga’s and consensus full-year estimates.

KUALA LUMPUR: Kenanga Research has maintained its “outperform” call on RHB Bank Bhd as the bank’s management is open to front load more provisions this year, which could help pave the way for an earnings recovery in financial year (FY) 2021.

In its recently released 3QFY20 results, RHB’s profit after tax and minority interests (PATMI) of RM622mil met expectations despite 9MFY20 PATMI of RM1.6bil at 82% to 83% of Kenanga’s and consensus full-year estimates.