AmInvest maintains ‘overweight’ rating on banking sector | Malay Mail

KUALA LUMPUR, July 22 — AmInvestment Bank Bhd has maintained its 'Overweight' rating on the banking sector, as anticipation of improvement in underlying interest margins will drive banks’ core net interest income higher.

“On the latest six-month moratorium, it is likely to still see banks conservatively topping up provisions, an additional overlay. Nevertheless, we do not expect these additional overlays to be a substantial amount unlike that seen in 2020. AmInvest said it is also keeping the industry loan growth projection of 4.0 to 5.0 per cent for 2021 while competition on deposits is expected to remain mild due to the strong current account saving account growth which continues to be seen in the near term for the banking system.

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