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UBS: CM BANK (03968), China CITIC Bank Corporation (00998), and Ping An Bank (000001.SZ) have a large exposure in Retail Trade and will benefit from policies promoting Consumer spending.
The bank believes that a combination of measures to promote Consumer spending may accelerate the growth of retail loans and improve Asset quality.
[Brokerage Focus] HSBC Research: Consumer loan policies effectively hedge against deflation expectations and may be welcomed by international investors.
Jinwu Financial News | HSBC Research published a report stating that the latest consumer loan stimulus policy released by the National Financial Regulatory Authority (NFRA) effectively counteracts deflationary expectations through a strengthened regulatory framework. The bank believes that the latest policy may be welcomed by international investors. It noted that this policy adjustment has a positive impact on China Mainland Banking stocks, addressing the pain points of growth, asset quality, and inflation, and is expected to accelerate loan growth this year through increased policy intensity. HSBC indicated that, from a micro perspective, individual banks with large retail banking and credit card businesses, specifically mentioning CM BANK (03968) and Citic, may benefit from this.
Research Reports Gold Digging丨Zheshang: China CITIC Bank Corporation's profitability leads the average of joint-stock banks, and the valuation is expected to be repaired.
Zheshang's Research Reports indicate that, as a high-dividend, low-valuation, and low-Hold Positions quality joint-stock bank, China CITIC Bank Corporation (601998.SH) stands to benefit from medium and long-term capital entering the market, and its valuation is expected to recover. A Target Price of 0.70x PB valuation is given for China CITIC Bank Corporation for 2025, corresponding to a target price of 9.31 yuan/share, with an upside potential of 30% from the current price. China CITIC Bank Corporation currently has better profitability than the average of joint-stock banks, but there is still a gap compared to leading banks like China Merchants Bank. Looking ahead, the profitability gap between China CITIC Bank Corporation and leading banks is expected to narrow, driving a reduction in the valuation gap. Benefiting from the industry-wide reduction of profitability in corporate and retail Business, there is a comparative advantage over the profitability of China Merchants Bank.
In-depth | New policies for loans to technology enterprises for mergers and acquisitions have been implemented for half a month, and national Banks are "competing" for publicly listed companies that are Specialized, Special and New, while city commercial
① Less than two weeks after the new policy implementation, some large state-owned banks and joint-stock banks have already responded. In most cases, the businesses receiving credit loans have both the labels of listed companies (or potential listings) and Specialized, Special and New. ② Compared to the steady advancement of large state-owned banks and joint-stock banks, the actions of city commercial banks are currently noticeably slower. ③ Technology merger and acquisition loans inherently have limitations and are suitable for regions with many technology companies and strong innovation capabilities, such as Beijing, Shanghai, and Guangzhou.
China CITIC Bank Corporation (00998.HK) plans to hold a Board of Directors meeting on March 26 to approve the annual performance.
Glory Financial reported on March 14 that China CITIC Bank Corporation (00998.HK) announced that the Board of Directors will hold a meeting on Wednesday, March 26, 2025, to consider and approve (including Other matters) the annual performance of the Bank and its subsidiaries for the year ending December 31, 2024, and to propose the distribution of an annual dividend (if any).
CITIC BANK: DATE OF BOARD MEETING
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