Affin Hwang Capital Research Highlights

HwangDBS Research Highlights - 25 Feb 2014

kltrader
Publish date: Tue, 25 Feb 2014, 10:14 AM
kltrader
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This blog publishes research highlights from Affin Hwang Capital Research.

RHB Capital; Buy; RM7.80
Price target: RM8.80; RHBC:MK
Pre-provision profit in line

FY13 net profit was 7%/4% above our/consensus estimates as provisions were lower-than-expected. Declared 10.3 sen single-tier final
DPS; FY13 payout ratio of 23% is below guidance. 2014 KPI: >12% ROE led by 12% loan growth, better asset quality and focus on
CASA growth. Maintain BUY and RM8.80 TP.

Source: HwangDBS Research - 25 Feb 2014

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