RHB Bank Berhad Q1 Results Meet Estimates; Analysts Upgrade Earnings Forecasts
RHB Bank Berhad (KLSE:RHBBANK) released its first-quarter numbers this week, and they largely matched what the market had been expecting. Revenue came in at RM2.2 billion, while statutory earnings per share landed at RM0.20 — both broadly in line with consensus estimates.
For investors, these quarterly updates are a chance to gauge whether a company is tracking as anticipated, and to see how analysts recalibrate their outlooks. Following the release, the 16 analysts covering RHB Bank have updated their models for the 2026 fiscal year.
Analysts now project full-year revenue of RM9.32 billion in 2026, implying a credible 6.9% increase from the prior 12 months. Earnings per share are expected to rise 3.3% to RM0.82. Notably, before the earnings announcement, the consensus was looking at RM9.27 billion in revenue and EPS of RM0.80 — so the new forecasts reflect a slight uptick in profit expectations.
“The upgrade to EPS forecasts suggests analysts are feeling more bullish about RHB’s earnings potential, even though the top-line view hasn’t shifted much,” said one regional banking analyst who covers Southeast Asian lenders.
Despite the improved earnings outlook, the consensus price target held steady at RM8.97, indicating that analysts see the higher profit estimates as supporting the stock’s current valuation rather than triggering a re-rating. The range of targets remains fairly tight: the most optimistic analyst sees the stock reaching RM10.30 per share, while the most bearish has it at RM7.95. Such a narrow spread implies that the analyst community has a relatively clear picture of what RHB Bank is worth.
Looking at the broader picture, the updated forecasts imply an acceleration in growth. Analysts expect RHB Bank’s revenue to grow at an annualized rate of 9.3% through the end of 2026, a notable step up from the 4.4% annual growth the bank averaged over the past five years. By comparison, other banks in the Malaysian and regional banking sector — at least those with sufficient analyst coverage — are forecast to post average revenue growth of around 6.3% per year. That suggests RHB is expected to outpace its peers.
The biggest takeaway from this earnings cycle is the clear improvement in sentiment around RHB’s earnings trajectory. With no major changes to revenue forecasts and a steady price target, the market appears to view the bank’s performance as supporting its existing valuation, while offering a slightly brighter profit outlook.
Still, investors should keep an eye on longer-term fundamentals. The bank disclosed one warning sign in its latest filings that may warrant closer attention — details are available in the full analysis.
This article is for general informational purposes only and does not constitute investment advice. Data and forecasts are based on publicly available analyst estimates and historical performance. Readers should conduct their own due diligence before making any investment decisions.