UBS: MINSHENG BANK 1Q26 Net Profit Dragged by Surge in Provisions, Rating Buy
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UBS reported that MINSHENG BANKexperienced a 9.6% YoY decline in net profit after tax for 1Q26, the lowest among its peers, primarily due to increased provision expenses. Despite this, revenue and pre-provision operating profit met expectations. The bank has delayed its forecast for a return to positive net profit growth until 2027 but maintains a Buy rating with a target price of HKD4.6.
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