Haitong Int'l: Maintains the "Outperform Market" rating on CM Bank (03968) with the target price raised to 43.93 HKD.

Haitong Int'l expects that in the fiscal years 2024 to 2026, China Merchants Bank's growth rates of net income attributable to shareholders will be -0.2%, +3.2%, and +3.9%, respectively.

Zhitong FinanceDec 2 03:23 ET

The no-card deposit and withdrawal business continues to tighten, with about 20 banks officially announcing adjustments to the business, leading to diffusion among small and medium banks since November.

① Since November, about 20 banks have announced restrictions on cardless deposit and withdrawal services. Throughout the year, at least 50 various banks, including state-owned banks, joint-stock banks, and small to medium-sized banks have successively announced tightened cardless services. ② From the announcements released by each bank, their reasons for adjusting cardless services are basically consistent—risk control.

cls.cnDec 1 22:42 ET

CM Bank (03968): Li Menggang resigns as an independent non-executive director.

cm bank (03968) announced that Li Menggang and Liu Qiao are resigning from their positions as independent non-executive directors due to the expiration of their terms and are now submitting their resignations to the board of directors...

Zhitong FinanceNov 29 05:57 ET

China Merchants Port Issues 2 Billion Yuan in 180-Day Debts

MT NewswiresNov 25 03:06 ET

In November, the MLF volume continued to shrink. Previously, the 500 billion buy-back reverse repurchase has released medium-term liquidity ahead of schedule. The industry expects the reserve requirement ratio cut to be implemented faster.

①The funding operation mode of shortening and lengthening funds continues. On the one hand, the central bank continues to reduce the MLF operations volume, reduce the existing stock to mitigate its impact on the liquidity market. On the other hand, short-term funds continue to be net injected to hedge against cross-month fund pressure, strengthening the guiding position of reverse repurchase agreements on market interest rates. ②Local government bonds are centrally supplied, and the MLF is likely to see a quicker implementation under the reduced volume environment.

cls.cnNov 24 22:40 ET

China Securities Co., Ltd. banks industry 2025 investment strategy report: Policy intensification leads to a gradual recovery, focusing on different bank investment themes under different scenarios.

The actual macroeconomic indicators are still in the process of gradual recovery, and the banks sector is in a context of "strong policy expectations and weak fundamental realities." Depending on the different performances of the future economy, the banks sector will each have different investment themes.

Zhitong FinanceNov 22 03:00 ET