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FCMB Group – Retaining Neutral recommendation post Q2

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Rolling over to 2018 Following FCMB’s Q2 2017 results, we have increased our EPS estimates over the 2017-18E period by an average of 12%. This is because we have chosen to limit the impact of the weaker-than-expected non-interest income result in Q2 that we carry forward, offsetting it with the impact of the positive surprise ...

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