Alliance Bank Malaysia Bhd

[winston]

not vested

2QFY26 results above expectations

TP raised to MYR5.10; upgrade to BUY Alliance Bank’s

1HFY26E earnings were above expectations and our FY2628E earnings forecasts are raised by 3-4%.

On rolling forward our valuations to CY26, we have also raised our TP to MYR5.10 from MYR4.80 (CY26E P/BV: 0.9x, COE: 9.9%, ROE: 9.6%, LT growth: 4%).

With a prospective 3year (FY25-FY28E) net profit CAGR of 7%, FY26E dividend yield of 4.2% and a 12% upside to our TP, we upgrade the stock to BUY (from HOLD).

Source: Maybank

https://mkefactsettd.maybank-ke.com/PDFS/500371.pdf

[winston]

not vested

Alliance Bank Malaysia Berhad - Solid Growth Momentum
Date: 2025-11-26
Firm: TA
Price Target: 5.30

ABMB delivered a solid performance in the first half of FY26, supported by a stronger net profit driven by healthy revenue expansion, disciplined cost control, and continued improvements in asset quality.

Valuation
Rolling the valuation base year forward to FY27, we raise ABMB’s TP to RM5.30 from RM4.90. Our valuation is based on an implied PBV of c. 0.94x based on the Gordon Growth Model. We reiterate our BUY recommendation on ABMB.

https://klse.i3investor.com/web/priceta ... arch/76835

[winston]

not vested

Alliance Bank Malaysia - Tones Down Loan Growth Optimism
Date: 2025-11-26
Firm: RHB
Price Target: 4.80
Price Call: HOLD

Keep NEUTRAL and MYR4.80 TP, 4% upside.

Alliance Bank Malaysia's 1HFY26 (Mar) results came in line with estimates as the steep 10bps QoQ NIM compression in 2QFY26 (partly a result of July's overnight policy rate (OPR) cut) was offset by better non-II and credit costs.

Nevertheless, sub-peer yields and a potential downgrade to medium-term ROE guidance are likely to cap the stock's potential upside, in our view.

https://klse.i3investor.com/web/priceta ... arch/76854

[winston]

not vested

Alliance Bank Malaysia Berhad - Expecting NIM to Remain Stable
Date: 2025-11-26
Firm: PUBLIC BANK
Price Target: 4.50
Price Call: HOLD

We expect net interest margin (NIM) to stablise QoQ, from active deposit repricing and pre-funding by the management to avoid the seasonal year end deposit competition.

We think delinquencies may pick up slightly in 2HFY26 from its consumer and SME portfolio, dragged by inflationary stress.

We maintain our Neutral call and TP of RM4.50. On a side note, ABMB declared an interim dividend of 9.37sen (2QFY25: 9.5sen), translating to a 40% dividend payout ratio.

Slower loans growth.
Deposits outpaced loans growth.
NIM under pressure.
Non-interest income (NoII) grew 14.6% YoY to RM116.5m
Gross impaired loans (GIL) ratio improved by 5bps QoQ to 1.91%

https://klse.i3investor.com/web/priceta ... arch/76825

[winston]

not vested

ALLIANCE BANK MALAYSIA - Earnings on Track; Credit Costs Still Elevated
Date: 2025-11-26
Firm: AmInvest
Price Target: 4.80

6MFY26 earnings rose 10.6% YoY, in line with expectations, driven by stronger NII and 30.7% NOII growth from treasury gains and banking fees.

Maintain HOLD on ABMB, with an unchanged target price of RM4.80/share, based on CY26 P/BV of 0.9x and a blended ROE of 9.3%. Earnings forecast and 3-star ESG rating remain unchanged.

https://klse.i3investor.com/web/priceta ... arch/76844

[winston]

vested

Why is DBS - Southeast Asia’s largest lender - seeking a stake in one of Malaysia’s smallest banks?

The Malaysian government is prepared to allow DBS to negotiate the purchase of an entire 29.06 per cent stake held by privately owned Vertical Theme, Alliance Bank’s largest shareholder.

DBS had initially sought to acquire Vertical Theme’s shares and subsequently raise its total interest to as much as 49 per cent through further purchases on Bursa Malaysia.

A 49 per cent stake would have effectively given DBS management control and allowed it to consolidate Alliance Bank’s earnings.

However, BNM did not approve that plan, prompting DBS to revise its ambitions and pursue only the Vertical Theme stake.

Under the Financial Services Act (FSA) 2013 — which replaced the Banking and Financial Institutions Act (BAFIA) — individual and institutional shareholdings in local banks are generally capped at 10 per cent and 20 per cent, respectively.

Exceptions may be granted with the finance minister’s approval based on BNM’s recommendation. (Under BAFIA, foreign ownership was capped at 30 per cent.)

Temasek — which currently owns nearly 29 per cent of DBS — holds a 49 per cent stake in Vertical Theme through Duxton Investment & Development Pte Ltd, with the other 51 per cent initially owned by Langkah Bahagia.

Source: CNA

https://www.channelnewsasia.com/asia/db ... ar-5550516