Goldman Sachs: Agricultural Bank of China’s third-quarter net profit exceeds expectations, rating "Neutral"
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Goldman Sachs released a research report stating that Agricultural Bank of China's pre-provision profit and net profit for the third quarter exceeded the bank's forecast by 5% and 4%, respectively; net interest income met expectations; loans increased by 9% year-on-year, with retail loans up 7% and corporate loans up 9%; the common equity tier 1 capital ratio was 11.2%, an increase of 5 basis points quarter-on-quarter, but 11 basis points lower than the forecast. Goldman Sachs assigned a "Neutral" rating to Agricultural Bank of China, with a target price of HKD 4.88 for H shares
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