Not sure about it being overrated. But the focus of budget 2023/unity government and the need to keep the interest rates at the high side bodes well for banks. no doubt there will be exposure to bad loans due to high interest rates environment, but pbbank with ~30% market segment share in Malaysia has pretty low/decent provisions for bad loans/impairment. That shows the quality of its assets despite being small from market segment perspective.

yes, Tze Hong. I have always liked Pbbank for it's efficiencies. The recent market panic provides the opportunity and the focus of the unity government will make it attractive for foreign direct investments in the future; perhaps by 2025 onwards if plans are executed well.