Bank of Communications International released a report stating that China Construction Bank's net profit for the first half of the year fell by 1.8% year-on-year, with a narrowing decline of 2.2% in the first quarter, which is in line with the bank's expectations. The bank noted that China Construction Bank's net interest margin for the first half of the year was 1.54%, a decrease of 16 basis points compared to last year. The report predicts that China Construction Bank's net interest margin will decrease by 19 basis points this year. The asset quality of China Construction Bank remained stable in the first half of the year. The non-performing loan ratio of China Construction Bank decreased from 1.36% at the end of the first quarter to 1.35% at the end of the second quarter, indicating that the current valuation is cheap. The bank has lowered its target price for China Construction Bank's H shares to HK$8.2 and has a "buy" rating.
大行评级｜中银国际：下调建设银行目标价至8.2港元 评级“买入”
Major rating | BOC International: Lower the target price of China Construction Bank Corporation to HKD 8.2, with a rating of "buy".
The translation is provided by third-party software.
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.