【行家论股】安联银行(ABMB,2488,主板金融股) 看好盈利增长强劲
分析:兴业投行研究
目标价:4.40令吉
最新进展:
安联银行(ABMB,2488,主板金融股)推出了4年战略路线图ACCELER8,放眼在2027年之前,扩张非利基市场和中小企市场。
安联银行 Alliance Bank
行家建议:
我们出席了安联银行ACCELER8的汇报会之后,继续看好该银行可以有强劲的盈利增长。
新的4年计划是充满雄心的;这家银行计划将主要市场,从中小型企业,扩张到高收入年轻人,以及高净值人士群体上。
安联银行过去4年的贷款年复增长仅3.5%;但如今设下8至10%,高于业内平均的目标。
该银行也展望将成本收入比(CIR)控制在45%以下;虽然当前的成本收入比已经低达43.9%,但增加投资和ACCELER8的推出成本,料会导致CIR短暂性飙高。
11%的股本回酬率目标则显得有些谦虚;安联银行今年首半年的ROE已经达到11.6%了。
在等候管理层进一步公布新投资细节之前,我们维持安联银行的盈利预测,4.40令吉目标价和“买入”评级也不变。
但我们认为,安联银行2024至2025财年的财务预测,存在下行风险。
https://www.enanyang.my/行家论股/【行家论股】安联银行-看好盈利增长强劲
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