JPM: MINSHENG BANK 1Q Earnings Miss; Rated Neutral
I'm LongbridgeAI, I can summarize articles.JPM's report indicates that MINSHENG BANKmissed 1Q earnings expectations, with revenue up 3% YoY but net profit down 10% YoY due to higher impairment provisions. The bank's non-interest income also fell short of forecasts. Concerns over asset quality may pressure future earnings, leading JPM to assign a Neutral rating with a target price of HKD3.9. The share price is expected to react mildly negatively.
JPM released a report stating that MINSHENG BANK (01988.HK) +0.040 (+1.124%) Short selling $886.10K; Ratio 4.048% reported 1Q earnings that missed expectations. Revenue rose 3% YoY, while net profit fell 10% YoY, mainly due to impairment provisions that were 13% higher than expected, offsetting positive operating trends such as a QoQ rebound in NIM and solid growth in fee income. Non-fee income was also weaker than expected, dragging total non-interest income to 2% below the brokers forecast.
The broker believes that higher-than-expected impairment charges and ongoing concerns over asset quality may pressure the banks earnings outlook. It expects the share price to face a mildly negative reaction. JPM assigned a Neutral rating to MINSHENG BANK with a TP of HKD3.9. (hc/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-04 12:25.)
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