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<Research>Citi Expects Positive Mkt Reaction to ICBC's Forecast-Beating Results for 1Q26
Recommend 4 Positive 3 Negative 1 |
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ICBC (01398.HK) recorded a 9.2% YoY increase in 1Q26 pre-provision profit on a rebound in NIM, strong trading gains, resilient fee income performance, and an improvement in the cost-to-income ratio (CIR), according to a Citi research report. Dragged by higher credit costs, growth in net profit after tax slowed to 3.3% YoY during the period, reaching RMB86.9 billion, accounting for 23% of the market's forecast for FY26. Citi has given ICBC a Buy rating and a target price of HKD7.95. Auto-translated by AI AASTOCKS Financial News |
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