Diversified Banks

Bank Of China

Bank of China and Singapore Exchange Sign MOU to Deepen Financial Cooperation

Bank of China and AIA Deepen Bank-Insurance Synergy to Build New Asia-Pacific Partnership Benchmark

BOC Life Partners with Shenzhen Fortune Health to Launch Greater Bay Area Cross-border Elderly Care Experience Program

Bank of China completes 30 billion yuan issuance of callable perpetual bonds to supplement tier-1 capital

BOC Chairman Meets USSEC and Visa Executives, Witnesses MOU Signing

Bank of China Shuts Down Independent Credit Card App 'Fenbin Life', Banking Sector Launches Integration Wave

C&D Group Deepens Global Strategic Cooperation with Bank of China

Six major state-owned banks show a contracting trend in real estate credit scale in 2025

CICC Analysis: China Construction Bank's Q1 Revenue and Profit Growth Continues to Rebound

Goldman Sachs Maintains Buy Rating and Target Price for China Construction Bank

Zhongtai Securities Maintains Overweight Rating on Bank of China as Earnings Improve

BOC reports 4.2% Q1 net profit growth, Citibank maintains buy rating

BOC reports 4.2% Q1 net profit growth to 56.63 billion yuan

BOC Leads in Panda Bond Issuance in Q1

China Construction Bank reports 3.95% YoY Q1 profit growth

Bank Of China released FY2026 Q1 earnings on April 29 After-Market (BJT), actual revenue CNY 140.54 B (forecast CNY 166.47 B), actual EPS CNY 0.36

China Construction Bank Announces USD 40 Billion Medium-Term Note Program Prospectus

BlackRock Increases Its Holding in Bank of China H Shares

China Construction Bank Chairman Vows Increased Support for Ansteel Group

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HSBC Research has lowered expectations for rate cuts in 2026 following the People's Bank of China's recent monetary policy report. The report suggests a high likelihood of net interest income expansion for Chinese banks, particularly ICBC, CCB, and Bank of China H shares. The research indicates that corporate banking is outperforming retail, with positive growth in corporate loans. Additionally, banks are advised to limit high-interest interbank time deposits to reduce competition and funding costs.

AASTOCKS News

Bank of China

BANK OF CHINA

China Construction Bank

ICBC

INDUSTRIAL & COMMERCIAL BK OF CHINA UNSP ADR EACH REPR 20 ORD SHS

Hwabao WP CSI Banks ETF

Fullgoal CSI 800 Banks ETF

WP CSI Banks ETF

China Merchants CSI BANK AH Price ETF

China Southern CSI Banks ETF

ChinaAMC CSI Banks ETF

Huaan CSI Banks ETF

HSBC HOLDINGS

HSBC

BANKCOMM

Bank Of Communications

MINSHENG BANK

CMBC

CITIC BANK

CNCB

CEB BANK

CEB Bank

China Merchants Bank

CM BANK

HSBC 5xShortSG241213

HSBC Holdings Plc

BOC HONG KONG

HSBC Research Lowers Rate Cut Expectations Within Year; CN Banks' Net Interest Income Seen Expanding; Prefers ICBC, CCB and BANK OF CHINA H Shrs

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UBS reported that April's new RMB loans and Aggregate Financing to the Real Economy fell short of expectations, with loans contracting by RMB10 billion. Despite record bill financing, overall loan growth slowed to 5.6% YoY. UBS remains positive on Chinese banks, predicting a turning point in 2026 for net interest income and revenue. Their top picks include BANK OF CHINA, CCB, ICBC, and CITIC BANK, all rated Buy with attractive valuations and high dividend yields.

UBS Group AG

UBS: CN Apr New RMB Loans, TSF Both Miss; Top Picks BANK OF CHINA/ CCB/ ICBC/ CITIC BANK

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JPM's report highlights that China's April credit data fell significantly short of expectations, with Aggregate Financing at RMB620 billion and new RMB loans decreasing by RMB10 billion. The largest recorded monthly declines in household and corporate loans were noted. The bank recommends a defensive strategy favoring the Big Four state-owned banks due to their stronger loan pipelines, while indicating deteriorating retail loan demand and a widening gap between M1 and M2 growth.

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM: China Apr Credit Data Far Below Expectations, Favor Big Four State-owned Banks for Defensive Positioning

Yesterday, Bank of China’s stock price rose moderately by 1.34%, closing at HKD 5.29, with an intraday high of HKD 5.33, fluctuating within a narrow range of HKD 5.23 to HKD 5.33 throughout the day. The MACD daily line confirmed a golden cross above the zero axis, indicating that medium-term bullish momentum is accumulating, and buying power is steadily recovering. The trading volume was approximately HKD 1.308 billion, which is considered a normal high level for the stock recently, with good capital participation. The overall trend exhibits a characteristic "slow bull" rhythm typical of large bank stocks, with a healthy combination of volume and price. On the news front, the Ministry of Commerce stated on May 14 that the total value of China’s goods trade imports and exports increased by 14.9% year-on-year in the first four months of 2026, indicating a continued improvement in the fundamentals of foreign trade, which indirectly benefits the asset quality and credit issuance of banks. Meanwhile, the new chairman of the Federal Reserve, Jerome Powell, is facing inflationary pressures, and the market expects U.S. Treasury yields to remain high for an extended period, supporting the interest margin logic for Chinese bank stocks in the China-U.S. interest rate differential environment. The Hong Kong stock bank sector has recently stabilized overall, with active trading in China Construction Bank and Industrial and Commercial Bank of China on the same day, showing a clear sector linkage effect. As a representative of high-dividend assets, Bank of China continues to attract allocation funds in the current macro environment. From a technical perspective, Bank of China is currently holding above HKD 5.22 (the closing price yesterday), with the 5-day moving average turning upwards, and short-term support in the range of HKD 5.20-5.22. If it can break through the recent high of HKD 5.33 with increased volume, it is expected to open up further upward space

Technical Forecast

Pre-market trend | Bank of China (3988.HK) steadily rises on 5/14, are bank stocks gearing up for another step up?

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Jefferies forecasts steady earnings improvement for mainland China's banking sector in 2026, driven by a mild macroeconomic recovery and low policy volatility. The report anticipates a slowdown in NIM narrowing, supporting net interest income growth, with pre-provision operating profit expected to recover fully. The broker favors BANK OF CHINA and BANK OF NINGBO, both rated Buy, and highlights selective attractiveness in the sector due to capital inflows and improving earnings visibility. Ratings and target prices for various banks are also provided in the report.

Bank of Ningbo

Jefferies Financial

PSBC

Jefferies: Mainland Banks to See Steady Improvement This Year, Favors BANK OF CHINA  and BANK OF NINGBO

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Yesterday's closing, MINSHENG BANK H shares performed steadily, with a trading volume of approximately HKD 148 million, which is considered active within the banking sector. The MACD daily line formed a golden cross signal above the zero axis, indicating that the medium-term upward trend has regained momentum after a brief technical correction, with bullish forces gradually accumulating. From the recent trend, the stock price is operating above the moving average system, with effective short-term support. On the news front, the domestic bank stocks have recently been supported by multiple positive factors. China Construction Bank rose slightly by 0.91% yesterday, Industrial and Commercial Bank of China rose by 0.87%, and Bank of China rose by 1.17%, showing overall stable performance in the banking sector. The central bank's monetary policy maintains an accommodative tone, with expectations for banks' net interest margin pressure marginally improving, coupled with the easing of China-U.S. relations boosting risk appetite for Hong Kong stocks, leading to continuous allocation of southbound funds into bank stocks. As one of the higher dividend yield targets among joint-stock banks, MINSHENG BANK's attractiveness in a low-interest-rate environment has further increased. From a technical perspective, MINSHENG BANK H shares have recently maintained an upward channel, and the golden cross above the MACD zero axis is a positive confirmation of trend continuation. The trading volume of HKD 148 million indicates a high level of institutional participation, with a healthy volume-price relationship. If it can break through the upper edge of the recent fluctuation range with increased volume, it is expected to initiate a new round of upward movement. The performance of MINSHENG BANK in the A-share market has a strong reflective effect on H shares and needs to be monitored simultaneously. In terms of risks, although bank stocks have strong defensive attributes, if macroeconomic data falls short of expectations leading to heightened concerns about asset quality, or if market style shifts to growth stocks, it may result in a temporary diversion of funds

Pre-market trend | MINSHENG BANK (1988.HK) 5/11 Bank stocks see capital inflow, is a new round of breakthrough in the making?

The Centa-City Leading Index (CCL) rose to 155.58, up 0.24% week-over-week, reflecting positive market conditions following a mortgage cash rebate by Bank of China (Hong Kong). Home prices increased for three consecutive weeks, totaling a 1.24% rise, reaching a 134-week high. Year-to-date, home prices have grown 7.96% and rebounded over 15% from last year's low. However, recent secondary transactions are slowing, which may impact future price increases in the latter part of 2Q26.

CCL Hikes for 3 Straight Weeks; Home Prices Up 7.96% YTD

Bank of China (SEHK:3988) reported Q1 2026 results with net interest income of CNY 116,143 million and net income of CNY 56,631 million. The bank approved dividends on Domestic Preference Shares, with a Third Tranche at 3.48% and a Fourth Tranche at 3.27%. Trading at HK$5.14, it is considered 11.9% undervalued compared to a fair value of HK$5.83. The bank's investments in digital payments and fintech are expected to enhance efficiency and margins. However, risks include pressure on net interest margins and credit cycles. This analysis is not financial advice.

Simplywall

Assessing Bank Of China (SEHK:3988) Valuation After Q1 2026 Earnings And Preferred Dividend Updates

Citi has released a research report detailing its investment ratings and target prices (TP) for various Chinese banks' H shares. The report includes ratings such as 'Buy' for most banks, with specific target prices ranging from HKD 4.47 to HKD 11.26. Notable banks listed include ABC, Bank of China, and ICBC, among others. The report also highlights short selling data and ratios for each bank, indicating market sentiment. The information is subject to a 15-minute delay for HK stocks quotes.

CQRC BANK

HUISHANG BANK

Chongqing Rural Commercial Bank

Citi's Investment Ratings and TP on CN Banks H Shrs (Table)

Citi Research reported that in 1Q26, the average pre-provision operating profit (PPOP) growth for 21 Chinese banks was 9.5% YoY, up from 2.6% in 4Q25, driven by loan growth and NIM recovery. Sector earnings rose 3% YoY, with credit costs increasing as banks prepared for future risks. BANK OF BJ led with 24% PPOP growth, while CEB BANK saw a 1.8% decline. Top picks include BANK OF CHINA and PING AN BANK, with target prices raised. Overall, large and regional banks outperformed joint-stock banks.

Bank Of China(601988.SH)