Agriculture Bank 1288

Re: Agriculture Bank 1288

Postby winston » Wed Mar 30, 2016 4:00 pm

<Research Report>Brokers' Ratings & TPs to ABC (01288.HK) (Table)

ABC (01288.HK) will announce FY15 results tomorrow (31 March).

According to 11 brokers' forecasts, the FY15 net profit of ABC ranged RMB176.484-182.092 billion, down 1.7% to up 1.5% over the same period of 2014.

Median was RMB179.84 billion, up 0.2% yearly. 11 brokers' ratings and target prices to the bank are consolidated as follows:

Broker/Rating/Target price (HK$)

Bernstein/Equalweight/4.7
Morgan Stanley/Overweight/4.4
Bank of America Merrill Lynch/Buy/3.99
JP Morgan/Overweight/3.8
Goldman Sachs/Buy/3.48
Credit Suisse/Overweight/3.3
Macquarie/Outperform/3
UBS/Neutral/3
BNP Paribas/Buy/2.9
HSBC/Hold/2.8
Daiwa/Underperform/2.4


Source: AAStocks Financial News
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Re: Agriculture Bank 1288

Postby winston » Fri Apr 01, 2016 7:10 am

AgBank hits low point in bad loans

by Daisy Wu

Agricultural Bank of China (1288) recorded the highest bad-loans ratios among its peers and expects impaired loans to further rise this year.

"We have written off more than 10 billion yuan [HK$12.02 billion] impaired loans in the first quarter. The pace of write-offs this year will be faster," said executive vice president Lou Wenlong.

AgBank, China's third-largest lender, posted the weakest profit growth in a decade, up 0.62 percent year on year to 180.58 billion yuan.

It cut its dividend payout ratio from 33 percent to 30 percent, a similar level to the other "big four banks." A final dividend of 16.68 fen per share was recommended.

Net income, which made up 80 percent of total operating income, inched up 0.6 percent to 180.6 billion yuan. Net interest margin, a measure of profitability at its lending business, narrowed by 26 basis points to 2.66 percent last year.

A third of its loans are from rural areas.


Source: The Standard
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Re: Agriculture Bank 1288

Postby winston » Fri Apr 29, 2016 5:10 am

not vested

AgBank harvest up 1.06pc

Agricultural Bank of China (1288) saw its first quarter net profit increase 1.06 percent from a year earlier to 54.69 billion yuan (HK$65.47 billion).

Operating income slid 1.15 percent to 139.03 billion yuan.

Net interest income slumped by 7.07 percent to 101.7 billion yuan, dragged down by the low interest rate environment.

Net fee and commission income hit 28.92 billion yuan, up 7.19 percent due to the rapid growth in agency commissions and electronic banking service fees.

Non-performing loans rose 4.1 percent from a quarter earlier to 221.62 billion yuan. Its bad- debts ratio remained 2.39 percent for the first quarter, versus 1.65 percent a year back.

The group saw its capital adequacy ratio slip to 13.11 percent for the first quarter, down by 0.29 percentage points over a year earlier.

Source: The Standard
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Re: Agriculture Bank 1288

Postby winston » Wed Jul 05, 2017 11:29 am

vested

<Research Report>C Suisse Downgrades ABC (01288.HK) to Neutral; Target Kept at $4.3

Credit Suisse withdrew the tactical positive call for Chinese banks. Being the best performing stock among four major banks year-to-date with total return of 18%, ABC (01288.HK) was downgraded to Neutral from Outperform.

ABC is trading at 0.78x 2017 P/B, slightly above CCB (00939.HK) 0.77x for the similar ROE profile.

The broker said that CCB is generally of better quality than ABC and hence ABC should trade at a discount relative to CCB.

Credit Suisse maintained ABC profit forecast on hold and target price unchanged at $4.3, mainly attributable to the mild economic slow down in 2H.

The stock price could also benefit from potential national team purchase before the 19th Party Congress and ABC should deliver decent interim results in August.

However, ABC share price could be more adversely affected among other large-scale Chinese banks if there is an economic downswing.

Source: AAStocks Financial News
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