Public Bank is CGS-CIMB Research's top pick for the sector as we believe that it is the most defensive against the credit risks arising from the Covid-19 pandemic
KUALA LUMPUR: CGS-CIMB Equities Research projects net profit (NP) growth for banks in the calendar year 2022 despite the one-off Cukai Makmur (CM) or prosperity tax.
It said on Friday however, the major concern for the sector was that the CM proposed under the Budget 2022 would derail banks’ net profit (NP) growth in CY22F.
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