Affin Hwang Capital Research Highlights

HwangDBS Research Highlights - 6 Feb 2014

kltrader
Publish date: Thu, 06 Feb 2014, 09:28 AM
kltrader
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This blog publishes research highlights from Affin Hwang Capital Research.

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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