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JPM Cuts BANK OF CHINA (03988.HK) TP to $3.6; Rated Overweight

JPM Cuts BANK OF CHINA (03988.HK) TP to $3.6; Rated Overweight

摩根大通将中国银行(03988.HK)TP下调至3.6美元；评级为增持
AAStocks ·  2021/06/15 22:06

BANK OF CHINA (03988.HK) has seen significant improvement on its asset quality over the first quarter, with NPL ratio dropped by approximately 16 bps, JPMorgan reported.

Domestic deposit of bank likewise grew 7.2% quarter-over-quarter, with the quarterly fee and net commission amount increased by 18% year-over-year, strongest growth among the big 4 banks.

As the bank's management stated that the company's overseas business is beginning to see signs of recovery, JPMorgan maintained BANK OF CHINA's rating of Overweight and lowered the target price to $3.6 from $3.8 based on DDM.

据摩根大通报道，中国银行(03988.HK)第一季度的资产质量有了显著改善，不良贷款率下降了约16个基点。同样，银行国内存款环比增长7.2%，季度手续费和净佣金同比增长18%，在四大银行中增长最快。由于该行管理层表示，该公司的海外业务开始看到复苏迹象，摩根大通维持中行增持的评级，并根据DDM将目标价从3.8美元下调至3.6美元。

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