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<Research>Citi Expects Positive Mkt Reaction to ICBC's Forecast-Beating Results for 1Q26
Recommend 9 Positive 5 Negative 5 |
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ICBC (01398.HK) recorded a 9.2% YoY increase in 1Q26 pre-provision profit on a rebound in NIM, strong trading gains, resilient fee income performance, and an improvement in the cost-to-income ratio (CIR), according to a Citi research report. Dragged by higher credit costs, growth in net profit after tax slowed to 3.3% YoY during the period, reaching RMB86.9 billion, accounting for 23% of the market's forecast for FY26. Citi has given ICBC a Buy rating and a target price of HKD7.95. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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