设正点财经为首页     加入收藏
首 页 财经新闻 主力数据 财经视频 研究报告 证券软件 内参传闻 股市学院 指标公式
你的位置: > 正点财经 > 研究报告 > 正文

Chinese banks -2018Outlook:Positioning in policy tightening and reforming

类型:行业研究  机构:德意志银行   研究员:Hans Fan,Jacky Zuo  日期:2018-01-08
http://www.zdcj.net      点击收藏此报告
    

Another year of divergence among banks; still prefer retail-oriented banks.

    China has made containing financial risks a top priority. Financial deleveragingmay last longer than expected, with higher market rates and more coordinatedbut tighter regulations. This may lead to moderate credit growth but slowerleverage build-up and hence, less financial stability risk. On the banks’ assetside, we expect supply-side reform will be strictly followed and SOE reformmay accelerate, leading to improving corporate financial health. Thus, we staypositive on the Chinese bank sector. We expect wider divergence betweenretail banks (big-4/CMB/CRCB) and the rest, as funding strength remains thekey differentiating factor; upgrading CRCB to Buy

赞助商链接
   
  • 如果不能阅读报告,请点击下载阅读器
关于我们 | 商务合作 | 联系投稿 | 联系删稿 | 合作伙伴 | 法律声明 | 网站地图
正点网财经声明︰所载资讯仅代表作者个人观点。不保证该信息(包括但不限于文字、数据及图片)全部或者部分内容的准确性、真实性、完整性、及时性、原创性等,若有侵权,请第一时间告知删除。内容仅供投资者参考,并不构成投资建议,投资者据此操作,风险自担。