[ET Net News Agency, 19 April 2018] Credit Suisse assumed coverage on Bank of
Communications (BoCOM)(03328) with a "neutral" and adjusted its target price to HK$6.6
(from HK$7.2)
The research house adjusted its FY2018-19 by 1-4%. It said BoCOM has the lowest shadow
banking exposure among JSBs, which should be the least impacted banks during the
tightening process, though the bank's growth will remain capped by slower margin expansion
and tight liquidity.
Going into 2018, Credit Suisse estimated the bank's earnings to resume 8% growth on
moderate loan growth and stabilised net interest margin. Still, it believes the bank's
margin expansion of 1-3bp to be slower than its peers, dragged by higher funding cost
given its high reliance on interbank funding.
Credit Suisse believes BoCOM should be the least impacted banks among JSBs by the
regulator's increasing tightening on shadow banking. (KL)
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03328 BANKCOMM
Nominal 
5.390 -0.050 (-0.919%) Others
19/04/2018 15:59
[I-bank focus]Credit Suisse restarts BoCom (03328) at HK$6.6
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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