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<Research> CICC: BANK OF CHINA (03988.HK) 1Q26 Revenue and Profit Growth Continue to Rebound; Maintains TP at HKD6.4
Recommend 6 Positive 9 Negative 5 |
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CICC said in a research report that BANK OF CHINA (03988.HK) (601988.SH) reported 1Q26 operating income, pre-provision profit and net profit rising 8.4%, 7% and 3.9% YoY, respectively, with growth rates accelerating by 4, 5.1 and 1.9 ppts from last year, indicating continued rebound in revenue and profit growth. During the period, net interest income increased 7.8% YoY, up 9.6 ppts from the end of last year, driven by stabilizing NIM and faster asset expansion. Other non-interest income grew 12.9% YoY, maintaining a relatively fast pace, mainly due to contributions from bond market investment gains. In addition, net fee and commission income rose 5.6% YoY, supported by wealth management and other businesses. CICC maintained its TP for BANK OF CHINA H shares at HKD6.4 and kept the TP for its A shares at RMB7.3, reiterating an Outperform rating.(ss/u) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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