[ET Net News Agency, 23 February 2018] China Construction Bank (CCB)(00939) is due to
announce 2017 results on 27 March.
Daiwa Research estimated CCB recorded double-digit net interest income growth for 4Q
2017, following -0.9% YoY growth for 1Q 2017, 7.6% YoY for 2Q 2017 and 10.2% for 3Q 2017.
It estimated the improvement in its core business driver, interest income, led to a
turnaround in its top-line performance in 2017, versus an operating revenue decline of
4.6% YoY for 2016.
Daiwa forecast CCB to deliver 10%+ YoY net interest income growth and a 8bp NIM
improvement for 2018.
It reiterated its "buy" call on CCB, with a target price of HK$10.5. (KL)