A research report from China Merchants Securities pointed out that Minsheng Bank (600016.SH) third-quarter performance growth rate meets expectations, interest rate spread stabilizes, marginal improvement in loan-to-deposit ratio growth, and asset quality indicators remain stable. Given the relatively low performance growth rate for 2024, it is forecasted that the profit growth rate for 2024/2025 will be -3.9%/0.5%. The company valuation is low, with a relatively high dividend yield, and the valuation implies some pressure on the fundamentals. In the event of policy reinforcement and real estate recovery, there is an option for valuation repair period, maintaining a "strong buy" rating.
研报掘金丨招商证券：民生银行三季报息差企稳，维持“强烈推荐”评级
Research reports uncover opportunities丨China Merchants: Minsheng Bank's third-quarter report shows stabilized interest margin, maintaining a "strong buy" rating.
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