Inexpensive valuations pull factor for banks

TheStar Thu, Jun 08, 2023 12:00am - 9 months View Original


HLIB Research said it was tactically bullish on banks, premised on inexpensive valuations, appealing yields and the undervalued ringgit.

PETALING JAYA: The banking industry has shown some resilience in its recent first-quarter report card even as it faces a tougher operating environment.

This was evident as the industry’s net interest margins (NIMs) generally contracted, which is indicative of the prolonged strong competition for deposits.

The industry also has generally experienced an increase in operating expenses.

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