Maybank and CIMB led gains in the banking sector, with their share prices rising 1.8% and 1.2% respectively, following strong results in the latest earnings season. Both banks reported robust profit growth and improved asset quality, boosting investor confidence in the sector's outlook.
Malaysia's two banking giants, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd, delivered impressive performances during the latest corporate earnings season, becoming key drivers for the FBM KLCI. Maybank's share price rose 1.8% to RM9.35, while CIMB advanced 1.2% to RM6.70. Both banks recently announced fourth-quarter and full-year results that surpassed market expectations, driven by growth in net interest income, expansion in their loan portfolios, and lower provisions for bad loans. Analysts noted that despite global economic headwinds, the Malaysian banking sector has maintained its resilience, particularly showing strong performance in retail and SME lending. Investor preference for banking stocks also reflects market confidence in these blue-chip counters to provide stable returns during uncertain times. The banking sector is expected to remain a key focus for the market this year.
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