AMMB – Staying focused

AMMB – Staying focused                                                                                                Market Perform

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-          AMMB remains focused on growing loans in profitable and viable segments. We gather that the loan approval pipeline looks good thus far, thanks to the ETP. Nevertheless, management still expects the group to post sub-system loan growth, dragged by the retail segment. 

-          Fair value of RM6.75 and Market Perform call maintained.

Source: RHB Research - 16 April 2012