Public Bank; Buy; RM19.04
Price target: RM23.00 ; PBKF:MK
Never disappoints
4Q13/FY13 earnings in line, led by robust loan and deposit growth; mild NIM compression. Declared 30sen final (single tier) DPS,
taking full year dividend to 52sen (implying 45% payout ratio). Needs to balance capital levels with business growth and dividends.
Maintain BUY, RM23.00 TP; top pick for the sector.
Source: HwangDBS Research - 6 Feb 2014
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Created by kltrader | Sep 30, 2022