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<Research>CICC Expects CN Banks' 1Q26 NP to Rise 2% YoY; Focus on Large State-owned Banks, CM BANK & MINSHENG BANK
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CICC has issued a report estimating that the Chinese banks under its coverage will see their operating revenue and net profit attributable to the parent increase by 3% and 2% YoY in 1Q26, respectively. Meanwhile, the YoY growth in net interest income is forecast at 2.4%, continuing to improve from 1.5% in 4Q25, although uncertainty surrounding other non-interest income has increased. Regarding the Chinese bank sector in April, CICC suggested investors should focus on: banks with high and sustainable dividend payouts and valuations that remain attractive to allocation-focused funds, including CM BANK (03968.HK) and large state-owned banks; names with low valuation and marginal earnings improvement, including Ping An Bank and Huaxia Bank; leading regional banks expected to outpace the industry in full-year results, including BANK OF JIANGSU (600919.SH) and YU RURAL COMMERCIAL BANK (601077.SH); and banks with asset quality clean-up and event-driven catalysts, including MINSHENG BANK (01988.HK) and INDUSTRIAL BANK (601166.SH). Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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