Sunday, January 17, 2021

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Bank of America expects BOC to Underperform

Bank of America sees Bank of China (03988) under performing the market, cutting its target price from HKD3.91 to 3.84. BoA notes that BOC's net profits rose by...

HSBC Maintains Buy Rating for BOC, Reduces Target Price

A new report from HSBC Securities maintains a buy rating for Hong Kong stocks of Bank of China (03988), with a reduced target price. HSBC...

China’s Big Four Banks Whittle Away at Their Branches

China's big four state-owned banks are paring back on their regional branches as part of efforts to cut down on costs. Last year Agricultural Bank of...

China Everbright Plans Direct Bank, IT Subsidiaries on Back of Profit Gain

China Everbright Bank has posted a modest gain in net profits for 2016. The 2016 annual report for China Everbright indicates that the bank saw a...

CCB’s NPL Rate Drops to 1.52%

China Construction Bank's 2016 annual report indicates a slight uptick in net profits as well as a marginal decrease in non-performing loans. According to the...

Leading State-owned Banks Slash Counter Staff by Nearly 60,000

The major state-owned players are leading a widespread trend to slashing counter staff within China's banking sector. Data from the the China Banking Association (中国银行业协会) indicates that...

Chinese Banks Plan Over 96bn Yuan in Preferred Issuances Abroads

Chinese banks are increasingly turning to overseas capital markets to raise funds, with a slew of preferred stock issuances set to hit Hong Kong in rapid succession. In just...

Bank of China Grabs Slew of Honours at Caixin Financial Awards

The Bank of China has taken out six top honours at a recent awards ceremony for the Chinese financial sector, dominating in the debt issuance...

China CITIC Credit Card Now Compensate for Flight Delays

China CITIC Bank has unveiled a new upgrade for its platinum credit card that will provide some form of compensation in the case of...

Net Profit Growth of China’s State-owned Banks Under 2%

The latest round of annual reports released by listed members of China's banking sector reveals dismally low profit rates amongst some of the major...

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China’s Biggest Bank Opens up to Applications for Digital Renminbi Wallets in Shenzhen

The Industrial and Commercial Bank of China (ICBC) is making digital renminbi wallets available to consumers in the southern tech hub of...

Chinese Central Bank Outlines Efforts to Improve Execution of Monetary Policy

A senior official from the People's Bank of China (PBOC) has published a paper on its official website outlining current plans to...

Foreign Investors Raise Holdings on China’s Interbank Bond Market by over 1 Trillion Yuan in 2020

The latest data from the Chinese central bank points to a sharp rise in investment by foreign institutional investors on China's interbank...

Shenzhen Finance Sector Sees Total Deposits Exceed 10 Trillion Yuan

Financial institutions based in Shenzhen have just seen their deposit levels rise to record-breaking levels.