UB-ICBC@EC2607A(20072.HK)

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UB-ICBC@EC2607A
20072.HK
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UBS: Constructive view on domestic banks with over 5% dividend yield, prefers ICBC, CCB, XCB, and BOC

UBS released a research report, stating that China will issue approximately 500 billion yuan of special government bonds to supplement the capital of ICBC, ABC, and large insurance companies. The capital injection plan is expected to be announced as early as the first quarter, which may lead to bank dividend distributions being advanced to late April and early May. UBS expects that the core Tier 1 capital adequacy ratio of ICBC and ABC will improve, but after the capital injection, ABC's core Tier 1 capital adequacy ratio will still be below 12%. The capital injection will dilute the earnings per share and dividends per share of the two banks by approximately 4% and 8%, respectively

AASTOCKS·
SH
601939
+0.58%
SH
601398
+0.28%
SH
601288
-0.30%
AASTOCKS·
SH
601939
+0.58%
SH
601398
+0.28%
SH
601288
-0.30%

ICBC and ABC are reported to receive central government capital injection. Goldman Sachs expects a maximum reduction of 7% in earnings per share, or will try to maintain dividends

The Ministry of Finance plans to inject capital into ICBC and ABC to replenish core Tier 1 capital. Goldman Sachs expects this move could lead to a 4% to 7% dilution in earnings per share, but it will also enhance the banks' capital ratios. Analysts believe that the injection will help the banks maintain growth and dividends, with expectations that the dividend payout ratios for ICBC and ABC will increase by 1.2 to 2.3 percentage points

Stheadline·
SH
601398
+0.28%
SH
601288
-0.30%
HK
01398
+0.47%
Stheadline·
SH
601398
+0.28%
SH
601288
-0.30%
HK
01398
+0.47%

Goldman Sachs' Investment Ratings and Target Prices for Chinese Bank Stocks (Table)

Goldman Sachs released its latest investment ratings and target prices for Chinese bank stocks. The specifics are as follows: ICBC is rated Neutral with a target price of 5.8 yuan; Bank of China is rated Buy with a target price of 4.94 yuan; China Construction Bank is rated Buy with a target price of 8.33 yuan; Agricultural Bank of China is rated Neutral with a target price of 4.95 yuan; Bank of Communications is rated Sell with a target price of 5.8 yuan; Postal Savings Bank of China is rated Buy with a target price of 6.04 yuan; China Merchants Bank is rated Buy with a target price of 52.96 yuan

AASTOCKS·
SH
601398
+0.28%
SH
601939
+0.58%
US
IDCBY
-0.85%
AASTOCKS·
SH
601398
+0.28%
SH
601939
+0.58%
US
IDCBY
-0.85%

Goldman Sachs: It is rumored that ICBC and ABC will receive capital injection from authorities, which may lead to up to 7% earnings dilution

Goldman Sachs reports that Chinese authorities plan to inject 300 billion yuan into ICBC and ABC, which may lead to a dilution of earnings per share by 4% to 7%. If the injection is realized, the banks will be better able to meet the demand for credit growth and may increase dividends. Goldman Sachs maintains a neutral rating on ICBC and ABC, with target prices of 5.8 yuan and 4.95 yuan, respectively, believing that the scale and impact of the injection still carry uncertainties

AASTOCKS·
HK
01398
+0.47%
SH
512820
+0.74%
SH
601398
+0.28%
AASTOCKS·
HK
01398
+0.47%
SH
512820
+0.74%
SH
601398
+0.28%

Keeta signed a strategic cooperation agreement with Industrial and Commercial Bank of China (Asia) to promote an innovative enterprise service ecosystem and may issue a co-branded credit card

Keeta signed a strategic cooperation agreement with Industrial and Commercial Bank of China (Asia) to combine both parties' advantages in local life services and financial resources to promote local economic development. Keeta will leverage its digital service capabilities to provide one-stop corporate services, covering corporate dining subsidies and welfare distribution, among others. Future cooperation will include personal financial services, digital finance, and the issuance of co-branded credit cards. Both parties will also explore corporate social responsibility projects, such as establishing delivery personnel rest stations

Tasty Money·
SH
601398
+0.28%
SZ
159887
+0.56%
SH
515020
+0.67%
Tasty Money·
SH
601398
+0.28%
SZ
159887
+0.56%
SH
515020
+0.67%
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