Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
03328 BANKCOMM
RTNominal unchange 0.000 (0.000%)
Others

12/07/2018 11:25

[I-bank focus]Credit Suisse cuts Bankcomm (03328) to HK$6

[ET Net News Agency, 12 July 2018] Credit Suisse lowered its target price for Bank of
Communications (Bankcomm)(03328) to HK$6 from HK$6.6, and reiterated its "neutral" rating.
The research house tweaked its 2018-20 EPS forecasts by 1-2% to account for the higher
credit cost estimates partly offset by the lower operating expense. On core earnings, we
continue to expect margin pressure for Bankcomm.
Credit Suisse expects Bankcomm's NPL ratio to see a moderate increase from 1.50% in
FY2017 to 1.6% in 2018. This is due to both pressures from corporate NPLs, as well as less
write-offs as the bank needs to build its reserve-to-loan ratio toward 2.5% from 2.3% in
end-2017 in comparison to the sector's average of 3%.
Credit Suisse also expects NIM to further decline in 2018 and possibly stabilise with a
moderate improvement in 2019. The cut back in operating expense growth will help drive an
11% PPoP growth in 2018. (KL)

Remark: Real time quote last updated: 20/09/2024 07:41
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.