[ET Net News Agency, 9 February 2018] HSBC Global Research lifted its target price for
China Everbright Bank (CEB)(06818) to HK$4.8 from HK$3.8, and maintained its "hold"
rating.
The research house cut its 2017 earnings forecast by 3% mainly on the lower net interest
income and lower fee income; but it raised its 2018 earnings forecast by 1% mainly on the
lower provisioning, despite of the lower net interest income and lower fee income.
HSBC said CEB has a strong corporate banking franchise and aspirations to enhance
non-interest income via investment banking, custodian, and asset management, via parent
China Everbright Group's wide commercial and financial presence.
CEB is proactive in capital planning and it boosted its CET1 ratio by 1.1ppt to just
below 10%. But its payout ratio may remain at lower-than-peers level of 15-16% while the
business mix is adjusted. (KL)
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06818 CEB BANK
Nominal 
2.340 +0.040 (+1.739%) Others
09/02/2018 15:58
[I-bank focus]HSBC lifts CEB Bank (06818) to HK$4.8
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