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<Research>CICC Expects CN Banks' 1Q26 NP to Rise 2% YoY; Focus on Large State-owned Banks, CM BANK & MINSHENG BANK
Recommend 12 Positive 17 Negative 12 |
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CICC has issued a report estimating that the Chinese banks under its coverage will see their operating revenue and net profit attributable to the parent increase by 3% and 2% YoY in 1Q26, respectively. Meanwhile, the YoY growth in net interest income is forecast at 2.4%, continuing to improve from 1.5% in 4Q25, although uncertainty surrounding other non-interest income has increased. Regarding the Chinese bank sector in April, CICC suggested investors should focus on: banks with high and sustainable dividend payouts and valuations that remain attractive to allocation-focused funds, including CM BANK (03968.HK) and large state-owned banks; names with low valuation and marginal earnings improvement, including Ping An Bank and Huaxia Bank; leading regional banks expected to outpace the industry in full-year results, including BANK OF JIANGSU (600919.SH) and YU RURAL COMMERCIAL BANK (601077.SH); and banks with asset quality clean-up and event-driven catalysts, including MINSHENG BANK (01988.HK) and INDUSTRIAL BANK (601166.SH). Auto-translated by AI AASTOCKS Financial News |
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