KUALA LUMPUR (May 27): Banks, whose share prices were hammered the most a year ago, seem to be the dark horse on the recovery path.
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After a turbulent year, the banking sector is set to recover this year. Most banks listed on Bursa Malaysia have delivered impressive sets of earnings for the quarter ended March 31, 2021.
Public Bank Bhd led the pack announcing record high quarterly profit of RM1.53 billion in the first quarter of 2021.
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On Thursday (May 27), four banks, namely Malayan Banking Bhd, RHB Group Bhd, Hong Leong Bank Bhd and Malaysia Building Society Bhd announced net profit growth.
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