All posts by Azib Khan
Senior Analyst
Sectors Covered: Banks
By Azib Khan
24 February 2021, 12:32 PM
Bank of Queensland (ASX:BOQ) has announced that it has entered into an agreement to acquire 100% of Members Equity Bank Limited (ME Bank) for cash consideration of $1.325bn. The acquisition will be funded by an underwritten capital raising of $1.35bn at a price of $7.35 per share.
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By Azib Khan
22 February 2021, 8:00 AM
Bank of Queensland (BOQ) has entered into an agreement to acquire 100% of Members Equity Bank Limited (ME Bank). This comes as BOQ's 1H21 trading update mostly exceeded expectations.
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By Azib Khan
17 February 2021, 12:00 PM
Westpac Banking Corporation (WBC) remains our preferred major bank, and we particularly expect the outperformance against Commonwealth Bank of Australia (CBA) to continue.
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By Azib Khan
17 February 2021, 11:00 AM
National Australia Bank (ASX:NAB) has announced unaudited cash earnings of $1.65bn for 1Q21, which, on a
run-rate basis, is 10% better than our expectation and ~33% better than FactSet
consensus. Accordingly, we maintain our Add recommendation.
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By Azib Khan
10 February 2021, 3:00 PM
Commonwealth Bank of Australia's 1H21 results exceeded our expectations. We increase our forecasts and target price but retain a Reduce recommendation.
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By Azib Khan
04 February 2021, 9:30 AM
We expect the upcoming round of reporting to surprise on the upside and result in increased investor confidence in the banks.
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By Azib Khan
31 December 2020, 10:05 AM
We expect the major banks to be able to sustainably operate with dividend payout ratios in the range of 56-83%.
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By Azib Khan
12 November 2020, 1:42 PM
While we continue to believe that Commonwealth Bank (ASX:CBA) has a relatively high quality retail franchise and a relatively good risk profile, we continue to believe that CBA is expensive relative to the other major banks. Our recommendation is downgraded to reduce.
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By Azib Khan
03 November 2020, 3:00 PM
Whilst revenue growth is hard to come by in the sector, we expect share price upside for WBC from cost of equity compression as the market becomes more confident about dividends normalising.
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By Azib Khan
26 October 2020, 3:50 PM
Despite recent share price strength, we retain a positive view on the major banks with the exception of CBA.
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