Gelonghui, July 4 | Changjiang Securities Research Report points out that it is optimistic about the long-term development prospects of the Bank of Hangzhou (600926.SH). The region has outstanding advantages in economic development and investment and financing needs, and conservative risk appetite forms a significant asset quality advantage. At the same time, non-credit impairment preparations strongly support leading profit growth, and ROE is on an upward trend in the medium term. It is predicted that in 2024, the Bank of Hangzhou's revenue will grow 3.9% year on year, and net profit to mother will grow 20.8% year on year, corresponding ROE to rise to 16.45%. Based on the closing price on July 1, not considering the impact of refinancing, PB is valued at 0.74x, 0.64x, and 0.55x from 2024 to 2026, with a dividend rate of 3.85% in 2023. It is highly recommended and gives a “buy” rating.
研报掘金丨长江证券：予杭州银行“买入”评级，看好长期发展前景
Research Report Jin| Changjiang Securities: Bullish on the long-term development prospects of Bank of Hangzhou and rated it as 'buy'.
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