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<Research>CICC Lists Estimated Impact of PBOC's Interest Rate/ RRR Cuts on CN Banks (Table)
Recommend 15 Positive 21 Negative 11 |
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CICC listed the estimated impact of interest rate and RRR cuts by the People's Bank of China (PBOC) on Chinese banks: Stock│ Impact on Net Interest Margin│ Equivalent Net Profit Impact ICBC(01398.HK)│-0.1bps│-0.1% ABC (01288.HK)│Flat│0.0% BANKCOMM (03328.HK)│-0.2bps│-0.2% CM BANK (03968.HK)│-0.3bps│-0.2% MINSHENG BANK (01988.HK)│-0.3bps│-0.5% CEB BANK (06818.HK)│-0.3bps│-0.3% CZBANK (02016.HK)│Flat│-0.1% Note: Assuming that both bank asset and liability interest rates are reduced by 10 bps (including loans, deposits & interbank assets and interbank liabilities) and are fully repriced. Assuming a 50 bps RRR cut, the entire amount of release reserve will be used to purchase bonds at an interest rate of 2%. Financial data as of the end of 2024 is calculated on an annualized basis. ------------------------------ CICC also listed its ratings and target prices for the H-shares of some Chinese banks. Stock│ Rating│ TP (HKD) CM BANK (03968.HK)│Outperform│58.98 ABC (01288.HK)│Outperform│5.09 ICBC(01398.HK)│Outperform│7.11 AAStocks Financial News |
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