Citigroup: Give ICBC a "buy" rating and target price of HK $6.99-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Citigroup: Give ICBC a "buy" rating and target price of HK $6.99

智通财经2021-08-30

　　CitigroupReleased a research report stating thatIndustrial Bank of China(601398) (01398) "buy" rating, target price of HK $6.99, pre-provision profit in the first half of this year increased by 5.4% year-on-year to 331 billion yuan, and after-tax net profit increased by 9.9% year-on-year to 163.5 billion yuan.

According to the report, due to strong trading earnings, solid loan growth and lower cost-to-revenue ratio, profit before provision in the second quarter of this year increased by 8.5% year-on-year. Due to lower credit costs, net profit after tax in the second quarter of this year increased by 20.9% year-on-year to 77.7 billion yuan, both in line with expectations.

The bank said that the main positive factor for the company at present is that deposits increased by 2.5% quarter-on-quarter in the second quarter of this year, which was higher than the 2.4% quarter-on-quarter growth of loans, resulting in the loan-to-deposit ratio falling by 11 basis points quarter-on-quarter to 75.2% in the second quarter of this year.%; Loan growth remained strong in the second quarter of this year, with a year-on-year increase of 11.2%, mainly driven by corporate loan growth and strong small business loan growth at a low base.

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朱时
·2021-08-30
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charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>花旗：予工商银行“买入”评级 目标价6.99港元</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; 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