Banks uphold conservative targets

Kenanga Research said it was maintaining an “overweight” call on the banking sector.

PETALING JAYA: Amid mixed prospects in the broader macro economic climate, banks appear to be upholding conservative targets in spite of strong earnings deliveries in the first quarter of calendar year 2024 (1Q24), says Kenanga Research.

However, the research firm said it was maintaining an “overweight” call on the banking sector, as net interest margins are recovering, while loan growth still appears encouraging.