2012 BANKING SECTOR EARNINGS UPDATE

Go down

2012 BANKING SECTOR EARNINGS UPDATE Empty 2012 BANKING SECTOR EARNINGS UPDATE

Post  Antonym on Fri Mar 08, 2013 10:04 am

The larger banks outperformed smaller banks in 2012 as the 18% credit ceiling restricted loan growth and rising interest rates tightened net interest margins for the aggressive smaller banks.
Larger banks continued to improve net interest margins benefiting from their larger CASA base and access to foreign funding whilst branch consolidation led to an improvement in cost-to-income ratios.
Asset quality of COMB and HNB also improved in 2012 due to reducing NPL's and increasing provision coverage.

SL banks still look attractive with a 0.9x-1.7x P/BV, 6-11x PER and 3-7% dividend yields on 2012 financials. CAL maintains a BUY on COMB and HNB.
Attachments
2012 BANKING SECTOR EARNINGS UPDATE Attachment
Banking Sector 4Q2012-Earnings Update.pdf "SL banks still look attractive", says Capital AllianceYou don't have permission to download attachments.(612 Kb) Downloaded 59 times

Antonym

Posts : 16
Reputation : 10

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum