According to the Securities Times app, CICC released a research report stating that it maintains a "outperform industry" rating for cm bank (03968), with third-quarter profit growth exceeding expectations, mainly benefiting from the reduction in liabilities cost, strict control of operating expenses, and stability in the generation of non-performing loans; looking bullish on cm bank in the future, expected to benefit from macro-policy efforts and improvement in risk appetite, with a target price of HK $43.34.

The report stated that in the previous quarter, cm bank saw improvements in liabilities costs, with net interest income stabilizing for the quarter, and both deposit costs and interest-bearing liabilities costs decreased by 4 percentage points each quarter, to 1.54% and 1.64% respectively, maintaining a leading level among listed banks. In the third quarter, the bank's net fee and wealth management income decline narrowed, considering the integrated rate reform of insurance "bank and insurance company combination" has been implemented for a year, and with the recent recovery in the capital markets after the introduction of a set of new policies, it is expected that the bank's large wealth management income will gradually stabilize and rebound, with a strong resilience expected to be achieved in the stage of continuous improvement in risk appetite.

Regarding non-interest income, CICC believes that under the overall downward trend in interest rates, the bank is expected to maintain double-digit growth in other non-interest income next year.