Valentis Advisors: Banks' earnings to recover, cement sector next focus

• Valentis Advisors anticipates an earnings recovery for banks, driven by easing margin pressure from interest rate cuts.
• Bank profitability is expected to improve as rate cuts flow through the lending cycle, with net interest margins likely to expand.
• Valentis projects 12-15% bank earnings growth next year, noting attractive valuations below their 10-year average multiples.
• The cement sector is next on Valentis' watchlist, with expectations for improved conditions after a weak monsoon quarter.
• Consolidation, steady demand, and slowing capacity additions are expected to strengthen pricing power and drive "good growth" in the cement sector next year.

Why It Matters: This offers investment guidance for banks and cement sectors.