“Subsequent quarters bearing the full brunt of Covid-19 lockdowns may be worse. As a result, expect rising risks of further earnings per share (EPS) downgrades,” says Wickramasinghe.
SINGAPORE (June 12): Regionally, Asean banks have rallied 25-56% from their March lows. But Maybank Kim Eng Research is advising investors to remain cautious nonetheless.
In a recent report, analyst Thilan Wickramasinghe says FY2020-21 earnings for these banks have been downgraded across almost all of the brokerage’s coverage universe.
