A favourable macroeconomic backdrop and ebbing headwinds on margins and asset quality suggest a more conducive setting for banking stocks performance this year. Yet, 2023’s normalisation of tax rate means RHB expects 2024F sector earnings growth to decelerate to 6% YoY vs 2023F of +11%, and trails their 2024F normalised earnings growth for the FBMKLCI […]
A favourable macroeconomic backdrop and ebbing headwinds on margins and asset quality suggest a more conducive setting for banking stocks performance this year. Yet, 2023’s normalisation of tax rate means RHB expects 2024F sector earnings growth to decelerate to 6% YoY vs 2023F of +11%, and trails their 2024F normalised earnings growth for the FBMKLCI […]