--- title: "In \"The Big Banks,\" Citigroup expects a significant narrowing of the decline in net interest margin for banks this year, supporting profit recovery and generally raising target prices" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/281461320.md" description: "The research report from Citigroup indicates that the downward trend in the income of domestic banks has ended, and it is expected that the decline in net interest margin will significantly narrow this year, supporting profit recovery. Target prices have been raised: Bank of China from HKD 3.9 to HKD 6.7, China Construction Bank from HKD 10.4 to HKD 10.9, Bank of Communications H shares from HKD 9.2 to HKD 9.3, and Industrial and Commercial Bank of China from HKD 5.2 to HKD 7.5, all rated as \"Outperform.\" The target price for Postal Savings Bank of China has been lowered to HKD 6.3, maintaining an \"Outperform\" rating. The preferred stock is China Merchants Bank" datetime: "2026-04-02T03:41:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281461320.md) - [en](https://longbridge.com/en/news/281461320.md) - [zh-HK](https://longbridge.com/zh-HK/news/281461320.md) --- > 支持的语言: [English](https://longbridge.com/en/news/281461320.md) | [繁體中文](https://longbridge.com/zh-HK/news/281461320.md) # In "The Big Banks," Citigroup expects a significant narrowing of the decline in net interest margin for banks this year, supporting profit recovery and generally raising target prices Citi Research report indicates that the downward trend in revenue for the domestic banking sector since 2023 has come to an end. Based on positive signs in net interest margin and wealth management fee income in the fourth quarter of last year, the bank expects a significant narrowing of the decline in net interest margin this year, stabilizing on a quarterly basis from the second half of the year. Coupled with the recovery in fee income, this should support the pre-provision profit of the domestic banking sector to return to normal low to mid-single-digit growth. The bank believes that moderate revenue growth and stable dividends will become the new normal for the industry; it raised the target price for Bank of China (03988.HK) from HKD 3.9 to HKD 6.7, China Construction Bank (00939.HK) from HKD 10.4 to HKD 10.9, Bank of Communications (03328.HK) H shares from HKD 9.2 to HKD 9.3, and Industrial and Commercial Bank of China (01398.HK) from HKD 5.2 to HKD 7.5, all maintaining an "Outperform" rating. At the same time, Citi lowered the target price for Postal Savings Bank of China (01658.HK) from HKD 6.7 to HKD 6.3, maintaining an "Outperform" rating, Bank of Communications (601328.SH) A shares from RMB 9.4 to RMB 9.3, and Ping An Bank (000001.SZ) target price from RMB 13 to RMB 12.7. All of the above stocks received an "Outperform" rating. The preferred stock is China Merchants Bank (03968.HK) (maintaining a target price of RMB 70 and an "Outperform" rating), Bank of China, and China Construction Bank ### 相关股票 - [BANK OF CHINA (03988.HK)](https://longbridge.com/zh-CN/quote/03988.HK.md) - [CCB (601939.CN)](https://longbridge.com/zh-CN/quote/601939.CN.md) - [PSBC (01658.HK)](https://longbridge.com/zh-CN/quote/01658.HK.md) - [BANKCOMM (03328.HK)](https://longbridge.com/zh-CN/quote/03328.HK.md) - [China Merchants CSI BANK AH Price ETF (517900.CN)](https://longbridge.com/zh-CN/quote/517900.CN.md) - [PSBC (601658.CN)](https://longbridge.com/zh-CN/quote/601658.CN.md) - [CCB (00939.HK)](https://longbridge.com/zh-CN/quote/00939.HK.md) - [E Fund CSI 300 Financials (ex Banks) ETF (512070.CN)](https://longbridge.com/zh-CN/quote/512070.CN.md) - [CM BANK (03968.HK)](https://longbridge.com/zh-CN/quote/03968.HK.md) - [Bank Of China (601988.CN)](https://longbridge.com/zh-CN/quote/601988.CN.md) - [Bank Of Communications (601328.CN)](https://longbridge.com/zh-CN/quote/601328.CN.md) - [Fullgoal CSI 800 Banks ETF (159887.CN)](https://longbridge.com/zh-CN/quote/159887.CN.md) - [WP CSI Banks ETF (512820.CN)](https://longbridge.com/zh-CN/quote/512820.CN.md) - [Hwabao WP CSI Banks ETF (512800.CN)](https://longbridge.com/zh-CN/quote/512800.CN.md) - [ICBC (601398.CN)](https://longbridge.com/zh-CN/quote/601398.CN.md) - [Huaan CSI Banks ETF (516210.CN)](https://longbridge.com/zh-CN/quote/516210.CN.md) - [China Southern CSI Banks ETF (512700.CN)](https://longbridge.com/zh-CN/quote/512700.CN.md) - [ChinaAMC CSI Banks ETF (515020.CN)](https://longbridge.com/zh-CN/quote/515020.CN.md) - [China Merchants Bank (600036.CN)](https://longbridge.com/zh-CN/quote/600036.CN.md) - [ICBC (01398.HK)](https://longbridge.com/zh-CN/quote/01398.HK.md) ## 相关资讯与研究 - [CLSA Sticks to Their Buy Rating for China Merchants Bank Co (CIHHF)](https://longbridge.com/zh-CN/news/281093865.md) - [Bank Of China (SEHK:3988) Net Interest Margin Squeeze Tests Bullish Valuation Narratives](https://longbridge.com/zh-CN/news/281197854.md) - [Canadian banks have exposure of C$880 million to non-prime lender goeasy](https://longbridge.com/zh-CN/news/281433579.md) - [Bank of China (OTCMKTS:BACHY) Issues Earnings Results](https://longbridge.com/zh-CN/news/281191632.md) - [BOK gov nominee Shin: flexible response is needed to deal with situation](https://longbridge.com/zh-CN/news/281098077.md)