if you want to buy apple account, choose buyappleacc.com, buyappleacc.com is a best provider within bussiness for more than 3 years. choose us, you will never regret. we provied worldwide apple developer account for sale.
KUALA LUMPUR: TA Research has raised the target price of AmBank group to RM3.70 from RM3.40. and reiterated its Buy call.
The research house said on Wednesday AmBank registered a net profit of RM386.6mil for 1Q22, a steep improvement from net losses amounting to RM4.7bil in 4Q21 (due to exceptional one-off items of RM4.8bil and related legal and professional expenses of RM21mil).
“Compared to a year ago, net profit rose 5.9%, coming in above ours and consensus full-year forecasts.
“Incorporating better-than-expected 1Q22 results, we adjust our topline growth assumptions, namely NIM, non-NII, and contributions from Islamic Banking.
“With that, we revise the FY22/23/24 net profit forecast higher to RM1.356bil/RM1.542bil/1RM,829bil respectively,” it said.
TA Research said this is in line with management’s target, i.e., to maintain a PATMI target of RM350mil per quarter.
Incorporating the upward revision to its earnings estimates and updating the risk-free rate assumption to 3.0% from 2.6%, it raised AmBank’s target price to RM3.70 from RM3.40.