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<Research>BOCI Cuts CM BANK's TP to $53.82; Rating Kept Buy
CM BANK (03968.HK) experienced a slight decline in its 1QFY25 earnings as it continued to provide resolute financial support to the real economy, BOCI wrote in its research report....
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<Research>BOCI Cuts CM BANK's TP to $53.82; Rating Kept Buy
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CM BANK (03968.HK)  +1.350 (+3.044%)    Short selling $209.48M; Ratio 23.221%   experienced a slight decline in its 1QFY25 earnings as it continued to provide resolute financial support to the real economy, BOCI wrote in its research report.

CM BANK's attributable net profit fell by 2.1% YoY during the period, compared to the YoY growth of 1.2% in 2024. Meanwhile, the bank maintained excellent asset quality, coupled with a decrease in the non-performing loan (NPL) ratio and a high level of provision coverage for NPLs during the quarter.

Related NewsSoochow Securities: CN Interest Rate/ RRR Cuts Can Stabilize Domestic Demand, Benefit External Equilibrium; Funding Support for Policy Lenders Via PSL Not Ruled Out
Estimating CM BANK to continue delivering the highest return on equity among its peers this year, BOCI kept the Buy rating unchanged for the bank but trimmed its target price from $54.22 to $53.82.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-07 16:25.)

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