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China Everbright Bank's 2023 Profit Slips 9%, Revenue Down 5%; Shares Drop Over 12%
China Everbright Bank (SHA:601818, HKG:6818) booked a net profit attributable to shareholders of 40.79 billion yuan in 2023, down 9% from 44.81 billion yuan a year earlier, according to the company's
Bank of America Securities: Reiterates China Everbright Bank (06818) “Outperforms the Market” Rating Target Price to HK$2.35
The Zhitong Finance App learned that Bank of America Securities released a research report stating that it reaffirmed China Everbright Bank (06818)'s “outperforming the market” rating, downgraded the earnings forecast per share for this year and next two years by 9% to 11%, and lowered the target price from HK$2.45 to HK$2.35. According to the report, the company's net profit fell 9% year on year to RMB 40.8 billion last year, mainly dragged down by the company's increased provision to handle non-performing assets. Total provisions for the fourth quarter of last year and the whole year increased 68% and 3%, respectively. The payout rate increased 0.3 percentage points year over year to 28.4%, but the final interest rate fell 8.9% year over year to 17.3 cents yuan.
Hong Kong stocks closed (03.28) | Hang Seng Index closed up 0.91%, Tech Net stocks rebounded strongly, and home appliances, petroleum, gold stocks, etc. performed well
The Zhitong Finance App learned that Hong Kong stocks experienced a strong rebound in early trading, and Hengke Index rose more than 4% during the session. The increase narrowed in the afternoon. By the close, the Hang Seng Index was up 0.91% or 148.58 points to 16541.42 points, up 0.25% this week, with a full-day turnover of HK$117.257 billion; the Hang Seng State-owned Enterprises Index rose 1.44% to 5810.79 points; and the Hang Seng Technology Index rose 2.48% to 3477.55 points. Looking at the whole month, the general market closed higher. The Hang Seng Index rose slightly by 0.18%; the National Index rose 2.34%; and the Hengke Index rose 1.35%. CCB International believes
China Everbright Bank Shares Fall on Earnings Miss
By Amanda Lee China Everbright Bank's shares fell sharply after annual profit came in well short of expectations, with the lender's bottomline hurt by weaker net interest income and a surge in fourth
Changes in Hong Kong stocks | China Everbright Bank (06818) fell more than 10% after results, annual net profit fell 8.96% year-on-year, and Q4 net profit fell by more than 60% in a single quarter
China Everbright Bank (06818) fell by more than 10% after the results. As of press release, it fell 10.08% to HK$2.32, with a turnover of HK$337.13,900.
The central price of RMB was 7.0948, down 2 points
On March 28, the central price of RMB was 7.0948, down 2 points. The median price for the previous trading day was 7.0946. Federal Reserve Governor Waller: The economic situation makes no reason for the Federal Reserve to cut interest rates on a large scale. Federal Reserve Governor Waller said that economic conditions have given us no reason to cut interest rates on a large scale; supply chain problems have been mitigated by positive progress in the inflation situation; and the Baltimore port disaster is unlikely to seriously disrupt the economy. There is a solid foundation for the basic stability of the RMB exchange rate. “The recent performance of the RMB exchange rate is more prone to phased fluctuations. Mainly recent short-term uncertainties from overseas
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