<div id="readability-page-1"><div><p>G Sachs issued a report stating that CM BANK (03968.HK)<span> </span><span> -2.200 (-4.391%)  </span> <span> Short selling $272.44M; Ratio 40.699%  </span> 's 1Q pre-provision operating profit and net profit were 3% and 5% below the brokers expectations, respectively. The weaker-than-expected performance was mainly due to slower growth in fee income, a 7% YoY decline in investment income, and continued NIM compression. The broker noted that the non-performing loan formation ratio rose 8 bps YoY to 1.08%, mainly driven by a 20% increase in credit card NPL formation. Although the customer base remains relatively high quality, the trend warrants attention.</p><p>G Sachs lowered its forecasts for CM BANKs pre-provision operating profit and net profit by 1% for 2026 to 2028 to reflect the weak 1Q results. The broker maintained its Buy rating on CM BANK with a TP of HKD52.86. (ec/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-28 16:25.)</p></div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p></div>

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<p>G Sachs has maintained a Buy rating on CM BANKwith a target price of HKD52.86, despite the bank's 1Q pre-provision operating profit and net profit falling 3% and 5% below expectations. The weaker performance was attributed to slower fee income growth, a 7% YoY decline in investment income, and ongoing NIM compression. The non-performing loan formation ratio increased to 1.08%, driven by a rise in credit card NPLs. G Sachs has adjusted its profit forecasts for CM BANK for 2026 to 2028 down by 1% due to these results.</p>

G Sachs Maintains Buy on CM BANK with TP at HKD52.86