Bank Of Ningbo Stock Forum

1. What would change if rates were cut on the current mortgage book?
We expect 1) the pace of mortgage replacements to accelerate on a one-off rate cut on existing mortgages. Previously, we estimated ~4 more years to complete the mortgage replacement, assuming ~10% replacement completes in a half year and that the replacement cycle started in 2H22, and that ~20% of the mortgage book had been remortgaged by end-1H23.(...