AMMB Holdings Bhd, a Malaysian bank, expects profit for the year ending March 31 to exceed RM950 million, JPMorgan Chase & Co. said in a report today after meeting with management.
The profit target is higher than the management’s earlier guidance of between RM825 million and RM950 million, JPMorgan analyst Chris Oh said in a report today. Oh raised his fiscal 2010 and 2011 earnings estimates by 5 per cent to reflect stronger-than-expected net interest margins and non-interest income levels, he said. - Bloomberg
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