Alliance Bank – is the market being irrational?

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#1
Alliance Bank is the smallest Bursa Malaysia bank. While smaller than Affin Bank, its performance as measured by the ROE is far better than that of Affin.

[Image: Alliance-bank.png]

When you look at the ROE trend of Alliance, you can see that it had recovered from the Covid-19 years and overtaken its pre-Covid-19 peak But the market price has yet to reflect the better performance.

Does the market know something that I don’t or it it merely being irrational?
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