On September 5th, CMB International released a report stating that cm bank's second-quarter performance was slightly lower than expected, with a year-on-year decline in net profit of 0.7%, narrowing the decline by 2% compared to the first quarter. Due to a decrease in the yield on interest-earning assets, cm bank's net interest margin in the first half of 2024 was 2%, a decrease of 15 basis points compared to 2023. The report predicts that cm bank's net interest margin will decrease by 17 basis points in 2024. Cm bank maintained excellent asset quality in the first half of the year. The report predicts that cm bank's average return on equity (ROAE) in 2024 will be 15%, which is the highest level in the industry. CMB International lowered its target price for cm bank's H-shares to HK$45.33 and maintained a "buy" rating.
大行评级｜中银国际：下调招商银行目标价至45.33港元 维持“买入”评级
Credit Rating of Large Banks | CMB International: Lowered the target price of cm bank to HKD 45.33 and maintained a 'buy' rating.
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