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00939 CCB
RTNominal up6.250 +0.090 (+1.461%)
Research Report

14/12/2020 17:04

{I-bank focus}Nomura lifts CCB (00939) to HK$7.64; "buy"

[ET Net News Agency, 14 December 2020] Nomura lifted its target price for China
Construction Bank (CCB) (00939) to HK$7.64 from HK$6.91 and maintained its "buy" rating.
The research house increased its net interest margin (NIM) forecasts for FY2020/21/22 by
4/7/15bp to reflect an improving operating environment, including stabilizing lending
rates of bank loans, given the impressive economic recovery and less stimulus and policy
easing going forward.
Nomura now expects CCB's NIM to drop by 15/4/0bp to 2.11%/2.07%/2.07% for FY2020/21/22.
Its NIM decline is expected to gradually narrow, following the recent trend - its NIM
decline narrowed to 1bp q-q in 3Q versus 5bp q-q in 2Q 2020, indicating its gradual
recovery from the COVID-19 pandemic. (KL)

Remark: Real time quote last updated: 07/05/2021 17:59
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