PETALING JAYA: The local banking sector is projected to post an improved core net profit (CNP) of between RM7.1bil and RM7.5bil in the second quarter of 2022 (1Q22), compared with RM7.05bil in 1Q22, driven by higher net interest margins (NIM) and lower loan loss provisions (LLP).
CGS-CIMB Research expects the sector to benefit from the upcycle in the overnight policy rate (OPR) in 2Q22, supported by improved earnings from AMMB Holdings Bhd
(AMMB) and Alliance Bank Malaysia Bhd (ABMB) as they cease to incur Cukai Makmur during the quarter.
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