[ET Net News Agency, 18 January 2021] BOCI Research lifted its target price for China
Merchants Bank (CMB) (03968) to HK$65.8 from HK$59.8 on rollover and maintained its "buy"
rating.
The research house said CMB's attributable net profit increased by 4.82% to RMB97.34bn
in 2020, beating BOCI's expectation by 3.2%. Operating income and net interest income were
basically in line while operating expenses missed by 3.2%.
BOCI reckoned CMB may have slowed down the pace to charge provisions due to its solid
asset quality, which led to the bank's strong performance. It raised its 2021-22 earnings
forecasts by 5.5%/8.5% due to lower assumptions on impairment losses. (KL)
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03968 CM BANK
Nominal 
31.350 -0.400 (-1.260%) Others
18/01/2021 16:43
{I-bank focus}BOCI lifts CM Bank (03968) to HK$65.8
| Remark: | Real time quote last updated: 16/04/2024 17:59 |
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