＜Research＞JPM: ICBC Mgmt Positive on NIM

　　In a recent report, JP Morgan said that seven Chinese banks held shareholder meetings over the past few days. The minutes of these meetings were subsequently released by CM BANK (03968.HK) +0.200 (+0.563%) Short selling $173.65M; Ratio 18.444% , ICBC (01398.HK) +0.040 (+0.875%) Short selling $385.08M; Ratio 26.023% , and MINSHENG BANK (01988.HK) +0.067 (+2.525%) Short selling $22.97M; Ratio 27.863% . According to the broker, the net read-across to the sector is positive, given steadying NIM and stable asset quality.

　　According to JP Morgan, the most positive takeaway from ICBC's shareholders' meeting was the management's indication that NIM is likely to exceed previous guidance. Additionally, the management told that loan growth will be higher than that of peers.

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　　The report also wrote that the revelation from the CMB‘s AGM was relatively neutral, as there was no new information or guidance provided. Conversely, the revelation from MINSHENG’s AGM was negative, as management exhibited caution regarding NIM and asset quality is unlikely to improve notably from current levels.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-27 16:25.)

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