Its “buy” calls are Hong Leong Bank Bhd (HLB), RHB Bank Bhd and Malayan Banking Bhd (Maybank), expecting them to ride on the economic recovery in 2021. For non-banks, it likes Hong Leong Financial Group which would leverage on the improved fundamentals of HLB.
PETALING JAYA: AmInvestment Bank, which expects the banking industry to chart higher loan growth next year, is maintaining its overweight stance on the sector, buoyed by the anticipated recovery in the sector’s 2021 earnings.
Its analyst Kelvin Ong said he expected the industry’s loans to grow 3% to 4% this year, adding that for next year, he projected a higher growth of 4% to 5%.
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