share_log

研报掘金丨海通证券：招商银行23年对公房地产不良双降，维持“优于大市”评级

Research Report | Haitong Securities: China Merchants Bank both declined bad public real estate in '23, maintaining a “superior to the market” rating

Gelonghui Finance ·  Mar 27 03:52

According to the Haitong Securities Research Report, China Merchants Bank (600036.SH)'s revenue in 2023 decreased by 1.64% year on year, and net profit to mother increased 6.22% year on year. The company's bad balance and non-performing rate on public real estate declined, and the asset quality of the retail sector was slightly disturbed. The company's dividend ratio increased from 33% to 35%, and judging from the degree of capital accumulation, it is expected to maintain a high dividend ratio. CMB's core Tier 1 capital adequacy ratio increased by 5 bps to 13.73% compared to '22, and is expected to continue to be at the top of listed banks. The bank believes that the company is expected to maintain a high dividend ratio and maintain a “superior to the market” rating.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment