CGS-CIMB projects banking sector's CY21 net profit to grow 2.9% even when factoring in maximum modification loss from loan moratorium

CGS-CIMB projects banking sector’s CY21 net profit to grow 2.9% even when factoring in maximum modification loss from loan moratorium
The Edge
13 hrs ago
Izzul Ikram
© Provided by The Edge
KUALA LUMPUR (July 19): CGS-CIMB Research has maintained its “overweight” call on the banking sector as it still projects net profit growth of 2.9% for CY21 even when factoring in maximum modification loss due to the automatic loan moratorium this year.
The research house noted in a report today that “banks [would] have to incur modification loss due to the automatic loan moratorium but the quantum would be lower than the RM1.58 billion last year”. 

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