[ET Net News Agency, 11 January 2018] Nomura Research lifted its target price for CITIC
Bank (00998) to HK$4.5 from HK$4.16, and maintained its "reduce" rating.
The research house said CITIC Bank led in financial deleveraging in 9-month 2017, either
in terms of interbank assets and receivables investments (primarily non-standard credit
assets) - which weighed on its asset growth but is a fundamental positive as it mitigates
potential risks in future.
As regulators further fix loopholes and China's new asset management guidelines likely
lead to faster deleveraging, Nomura sees lower systematic risks, especially for CITIC
Bank, as it is a pioneer in deleveraging. (KL)