[ET Net News Agency, 22 March 2021] Nomura lifted its target price for China Merchants
Bank (CMB) (03968) to HK$70.8 from HK$69.07 and maintained its "buy" rating.
The research house said CMB's net profit saw a strong earnings rebound in 4Q, driven by
lower loan provision. Retail customer AUM recorded historical high increment to CNY8.9tn
(+19.3%y-y), of which private banking customers AUM reached CNY2.8tn (+24.4%y-y), ranking
No.1 in the industry.
Looking forward, Nomura expects CMB's cooperation with its WM (wealth management)
subsidiary's new strategic investor to further deepen CMB's market leader position in the
wealth management segment. (KL)