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<Research>G Sachs Adds BANK OF CHINA (03988.HK) TP to $5.35 as Mgmt Expects Significant Slowdown in NIM Contraction This Yr
Recommend 16 Positive 20 Negative 7 |
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BANK OF CHINA (03988.HK)'s 4Q25 results beat expectations, with pre-provision operating profit (PPOP)/ net profit after tax (NPAT) increasing by 8%/ 5% YoY each, 8%/ 3% ahead of Goldman Sachs' forecasts, Goldman Sachs released a research report saying. During the earnings conference, management said that, benefiting from stabilized asset yields and lower funding costs due to deposit repricing, the net interest margin (NIM) contraction is expected to significantly slow down in 2026, with net interest income likely to achieve positive growth. By adjusting the asset-liability structure, the impact of the US Fed's rate cuts is estimated to be neutral, not adversely affecting the NIM. Therefore, the broker added its target prices for BANK OF CHINA's H-/ A-shares from $4.95/ RMB6.54 to $5.35/ RMB6.69, with both ratings kept at Buy. 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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