Ambank / Azman Hashim

[winston]

not vested

2QFY23 results above expectations

Forecasts maintained

While 1HFY23 results were above expectations on low credit costs, management maintains its credit cost guidance, which would imply higher credit costs in 2HFY23.

Our forecasts are maintained and we continue to maintain a BUY on the stock, with an unchanged TP of MYR4.95, based on a CY23E PBV of 0.8x (CY23E ROE: 8.7%).

Source: Maybank

https://mkefactsettd.maybank-ke.com/PDFS/292971.pdf

[winston]

not vested

AmBank may be ripe for M&A, says Kenanga

By Isabelle Francis

Kenanga’s projected AmBank’s earnings per share (EPS) growth of 7% and 10% for FY2024F and FY2025 respectively is reflective of such readings, while ROEs are expected to linger close to 10%, higher than pre-pandemic levels.

Kenanga noted that the group’s RM2.83 billion one-off global settlement payment to the Ministry of Finance in 2021 affected Ambank’s forward PB valuations, which dropped to its lowest point at 0.55x in July 2021.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/672137

[winston]

not vested

Analysts favour AmBank for its undemanding valuation, stabilising NIM and possibility of special dividend

By Hailey Chung

We continue to like AmBank for its inexpensive valuation and transparent guidance, while the likely disposal of AmMetLife is a potential catalyst given the possibility of special dividends.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/679588

[winston]

not vested

ANZ puts up 9% AMMB stake for sale via accelerated bookbuilding

By Chester Tay

Australia and New Zealand Banking Group Ltd (ANZ) is putting up 297.72 million shares in AMMB Holdings Bhd for sale, at an indicative price of RM3.80 to RM3.85 per share.

Represents an 8.3% to 9.5% discount to AMMB’s closing price of RM4.20 on Tuesday,

The sale would reduce ANZ’s shareholding in AMMB to 12.7% from 21.7%. Currently, foreign shareholding in Malaysian commercial banks are capped at 30%.

Azman Hashim is the second largest shareholder with an 11.8% stake, followed by the Employees Provident Fund’s 9.6%.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/703526

[winston]

not vested

4Q Results:-

Revenue: +9%; RM 1.3b
EPS: +8%; RM 0.16
Net Asset: RM 6.24

https://www.bursamalaysia.com/market_in ... id=3556219

[winston]

vested

AmBank’s corporate strategy off to good start

Focus on driving loan growth through the corporate and business banking segments as outlined under its Winning Together 29 (WT29) strategy.

Reposition its retail franchise as a net funder.

MBSB said the stock is currently trading at forward FY26 price-to-book value (PBV) of 0.79 times, which is close to the firm’s PBV valuation of 0.81 times with a 5.2% dividend yield.

Source: The Star

https://www.thestar.com.my/business/bus ... good-start

[winston]

vested

AMMB - WT29 Year 2- Steadfast Execution
Date: 2025-07-28
Firm: RHB
Price Target: 5.50
Price Call: HOLD

Stay NEUTRAL, with new MYR5.50 TP from MYR5.70, 7% upside and 6% FY26F (Mar) yield.

AMMB's Strategy Day event hosted last Friday showcased the group's steady progress towards its Winning Together 2029 (WT29) aims.

While the recent cut to the overnight policy rate (OPR) could put pressure on earnings growth in FY26F, we think the group's longer-term plans - especially for greater dividend distribution - remain intact.

Source: RHB

https://klse.i3investor.com/web/priceta ... arch/75849

https://klse.i3investor.com/web/staticfile/view/587859

[winston]

vested

AMMB Holdings Berhad - Staying On Track with WT29
Date: 2025-07-28
Firm: PUBLIC BANK
Price Target: 5.50
Price Call: HOLD

We think the group is on the right track to achieve its financial goals by FY29F, following a solid FY25 performance.

Notably, AMMB delivered a strong PATMI growth of 7%, improved ROA to 1.02% (FY24: 0.97%) and raised its dividend payout ratio to 50%.

To recap, WT29 outlines 3 main financial goals:
i) higher dividend payout,
ii) a lower cost-to-income (CTI) ratio of 40% and
iii) improve ROA to 1.1%.

While concerns with regards to slowing economic prospects may emerge in 2QFY26 onwards, we think that AMMB's sound asset quality with sufficient overlays of RM439m and solid LLC buffer should help to mitigate the negative impact.

We retain our Neutral call and RM5.50 target price.

Source: Public Bank

https://klse.i3investor.com/web/priceta ... arch/75850

https://klse.i3investor.com/web/staticfile/view/587860

[winston]

not vested

AMMB Holdings (AMM MK)

1QFY26: Solid Top-line Growth

1QFY26 results are in line, supported by NIM expansion, robust trading income and positive operating JAWS.

Despite a challenging quarter, AMMB delivered an impressive 10% pre-provision operating profit growth.

We maintain BUY with a target price of RM6.08 (0.94x FY26F P/B, 9.4% ROE).

Valuations remain compelling, further enhanced by an attractive 6.2% dividend yield.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email