Friday 29 Mar 2024
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KUALA LUMPUR (Feb 13): RHB Research has downgraded AMMB Holdings Bhd to “Neutral” (from Buy) with a lower target price of RM6.85 (from RM7.45) and said the downgrade came amid the continued volatility in underlying pre-impairment operating profit trends, as well as the recent deterioration in asset quality.

In a note Friday, the research house said AMMB’s 3QFY15 (March) results were broadly in line with expectations, as loan impairment writebacks helped cushion weaker income levels.

 

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