Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
03618 CQRC BANK
RTNominal unchange3.340 0.000 (0.000%)
Research Report

27/04/2020 11:46

{I-bank focus}JEF sees high uncertainty in CQRC Bank (03618)

[ET Net News Agency, 27 April 2020] Jefferies Research said Chongqing Rural Commercial
Bank's (CQRC)(03618) 1Q earnings decline (6.9%) was mainly due to a one-off impact in 1Q
2019.
Overall, the research house thinks the results were encouraging given stable NIM, strong
fee income, benign asset quality, and improved provision and capital. But Jefferies sees
challenges going forward as Chongqing's manufacturing industry is likely to be affected by
the global pandemic, and NIM may decline further QoQ in 2Q due to seasonality.
It finds CQRC's valuation attractive (0.38x 2020 P/B) but also sees high uncertainty.
Jefferies retained its "hold" call and HK$3.42 target price on CQRC. (KL)

Back to Research Report

Remark: Real time quote last updated: 24/04/2024 16:46
  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.