Source From (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=666055
Published: Monday May 14, 2012 17:56 PM
KUALA LUMPUR, May 14 (Bernama) -- MIDF Research Sdn Bhd has maintained
its "neutral" call on the Malaysia Building Society Bhd (MBSB) due to
the limited upside potential from the current share price.
"We make no adjustment to our forecast as earnings are within expectations," it said.
MBSB's net profit was higher year-on-year but dropped on a quarterly basis.
"The increase in yearly basis is due to higher income from Islamic
banking operations as a result of personal loans expansion," it said in a
research note.
MIDF said MBSB's non-interest income for the first quarter financial
year 2012 was lower by 6.7 per cent quarter-on-quarter to RM28 million
due to lower fee income as a result of promotional transfer packages for
personal loans disbursed in the quarter under review.
-- BERNAMA
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