AmInvest Research retains overweight on banks

AmInvest Research likes CIMB, RHB and Maybank due to the expected improvement in core operating income coming from the gradual improvement in regional operations performance.

KUALA LUMPUR: AmInvestment Bank Research retained its overweight stance on the banking sector with top picks of CIMB (fair value RM5.60), RHB Bank (FV RM6.90) and Maybank (FV RM10.40).

It said on Tuesday it likes CIMB, RHB and Maybank due to the expected improvement in core operating income coming from the gradual improvement in regional operations performance, progressive improvement in underlying net interest margins (NIMs) and provisions for loan losses.