Citigroup released a research report stating that it has given Industrial and Commercial Bank of China (601398) a "buy" rating with a target price of HK$6.99. In the first half of this year, pre-provision profit increased by 5.4% year-on-year to RMB 331 billion, and after-tax net profit increased by 9.9% year-on-year to RMB 163.5 billion. The report states that pre-provision profit increased by 8.5% year-on-year in the second quarter of this year, driven by strong transaction earnings, robust loan growth, and a low cost-to-income ratio. Net profit after tax increased by 20.9% year-on-year to RMB 77.7 billion in the second quarter of this year due to lower credit costs, both...
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Citigroup: Gives ICBC a "Buy" rating with a target price of HK$6.99
智通财经2021-08-30
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- 朱时·2021-08-30**LikeReport