Kenanga Upgrades RHB Bank on Cost Savings and Loan Outlook
Kenanga IB raises RHB Bank to outperform, citing cost control, funding management and loan growth, and keeps its 8.40 ringgit target price.
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what happened
According to Market Talk, Kenanga IB analyst Peter Kong finds RHB Bank's cost-control progress, funding management and loan outlook encouraging. He notes that savings reached 288 million ringgit by June, close to the 300 million to 350 million ringgit target for 2026, while AI is helping to streamline operations.
The analyst expects the bank's capital position to absorb the impact of bond valuation losses, and his dividend forecast is unchanged. Kenanga has raised its rating on the stock to outperform from market perform after a recent share-price decline, and it keeps its target price at 8.40 ringgit. The shares are up 1.1% at 7.53 ringgit.
why it matters
For investors, the main signal concerns how the bank is managing costs and capital while bond valuations weigh on results. An upgrade after a price drop is a common move when a stock's price diverges from operating momentum, but this is one research house's view rather than a sector-wide trend.
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sources
- RHB Bank's Cost Savings, Loan Growth Support Outlook — Market Talk, 2 November 2026 at 03:55 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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