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<Research>UBS Predicts Stable 3Q Results for CN Banks, Potential Earnings Improvement in 2H
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UBS has released a research report expecting Chinese banks to gradually announce their 3Q24 results by mid-month, and the Chinese banks under its coverage to deliver stable performance in 3Q revenue, PPOP, and NPAT, which will be flat, +0.6%, and +3.7% YoY respectively. However, there may be a divergence in performance between regional banks and state-owned banks. Despite a further slowdown in loan growth, UBS believed that the decline in NII for Chinese banks will be mitigated by the stabilization of the industry's NIM. In addition, trading and investment income is expected to maintain robust growth in 3Q, with an average YoY increase of 30.4%. An improved earnings outlook is anticipated for Chinese banks in 2H24. AAStocks Financial News |
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