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<Research>UBS Notes Plunge in CM BANK's NPL Coverage Ratio, Rating Neutral
Recommend 5 Positive 9 Negative 1 |
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CM BANK (03968.HK) released its preliminary results for 2025, with revenue and net profit amounting to RMB337.5 billion and RMB150.2 billion, respectively, UBS recaptured in its research report. The full-year revenue remained flat YoY, reversing the downtrend observed in 1-3Q25. The broker expected CM BANK's NII and average assets for 4Q25 to rise by 2 bps QoQ to 1.73%. It also noted that the bank's non-performing loan (NPL) ratio remained stable at 0.94%, but the NPL coverage ratio plummeted 20.2 ppts QoQ to 391.79%. UBS set a 12-month target price for CM BANK at HKD56, with a Neutral rating. AASTOCKS Financial News Website: www.aastocks.com |
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