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<Research>JPM Expects CN Banks' 3Q Profit to Rise ~3% YoY on Avg., PSBC (01658.HK) to See Rebound in Profit Growth
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Chinese banks will announce their 3Q24 results, and expecting revenue/ pre-provision operating profit (PPOP) to slide by 0.1%/ 0.2% YoY each, with the trend stabilizing compared to the previous quarters, while profit will grow by an average of about 3% YoY, JPMorgan released a research report saying. The market's focus will be on management's guidance on net interest margin and the impact of newly-announced policies. PSBC (01658.HK) may see a rebound in profit growth due to a cut in the deposit agency fee rate, while MINSHENG BANK (01988.HK) may miss expectations due to a higher base on non-fee income, JPMorgan added. AAStocks Financial News |
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