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CCB Foresees NIM Downswing This Yr to Be Less Severe Than Last
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CCB (00939.HK) reported a net interest yield of 1.51% last year, narrowing by 19 bps YoY. CFO Sheng Liurong stated that the reduction in deposit rates offset the impact of last year’s cuts in loan prime rate (LPR) and existing mortgage rate. However, given China’s moderately loose monetary policy this year and the People’s Bank of China’s indication of timely cuts in reserve requirement ratio (RRR) and interest rate, the LPR is expected to decline further, putting continued pressure on the net interest margin (NIM). Still, the bank believed the downswing will be less severe than the last and will continue to enhance asset-liability optimization. CCB President Zhang Yi said the bank will focus on expanding retail credit this year, capitalizing on policies like lower down payments to leverage its mortgage strengths. It will also beef up support for trade-in programs for consumer goods, boosting credit offerings for car purchases and home appliances to maintain its leading edge in consumer finance. AAStocks Financial News |
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