DBS: Deutsche aims bank to deliver better net interest income growth. House forecast Net Profit of $759m, -6% qoq, +6% yoy and 2% above consensus $743m. Tip 2Q11 to see a decline in fee rev after a very strong 1Q11.
Think net interest income growth will be a highlight given strong industry loan growth trends as well as recent signs that NIMs are stabilising. Net interest income growth should accelerate in 2Q11, + 10% yoy and fees likely down qoq, but underlying trend performance positive. House Maintain Buy with TP $17.20.
No comments:
Post a Comment