Citi initiates a 30-day positive catalyst observation on CCB
Citi published a research report indicating that it will conduct a 30-day positive catalyst observation on China Construction Bank (00939.HK), expecting its first-quarter performance to exceed expectations.
The bank stated that due to China Construction Bank's loan growth of 7.5% year-on-year, a quarterly net interest margin expansion of 6 basis points to 1.35%, strong growth in fee income, and stable asset quality, it expects first-quarter revenue and profit to grow by 9% and 3.5% year-on-year, respectively. The bank maintains its "Buy" rating and continues to set a target price of HKD 9.88
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