[%XvUg%]
Research by Maybank
HOLD – TP RM 2.75

"2Q24 results below expectations”

Bank Islam’s 2Q24 results were below expectations, and we lower our FY24-26E earnings by 5% respectively. We maintain a HOLD call and roll forward valuations to FY25 on an unchanged PBV of 0.8x (FY25E ROE: 7.9%). Our TP of MYR2.75 is maintained. 

Analyst:
Desmond Ch'ng, BFP, FCA
[%ahpK%]

$KLSE-BIMB
Research by Maybank
HOLD – TP RM 2.75

"2Q24 results below expectations”

Bank Islam’s 2Q24 results were below expectations, and we lower our FY24-26E earnings by 5% respectively. We maintain a HOLD call and roll forward valuations to FY25 on an unchanged PBV of 0.8x (FY25E ROE: 7.9%). Our TP of MYR2.75 is maintained. 

Analyst:
Desmond Ch'ng, BFP, FCA
desmond.chng@maybank-ib.com