Bank of Ningbo (A)

Bank of Ningbo is engaged in taking in public savings; granting loans; handling domestic settlements; handling discount of negotiable instruments; issuance of financial bonds; acting as an agent for the issue and underwriting of government bonds; buying and selling government bonds; inter-bank funding; providing guarantees; acting as an agent for accounts receivable and payable, and insurance; provision of safety-deposit box service; commission loan operations; foreign exchange deposit, loan and remittance; undertaking foreign currency exchange; international settlement, foreign exchange dealings and borrwings and providing foreign exchange guarantees.
  • Ticker002142
  • ISINCNE1000005P7
  • ExchangeShenzhen Stock Exchange
  • SectorBanks
  • CountryChina
UOB
Eric Wang Zhen ...
  • Jayson Kong

Banking - Large banks displayed resilience in earnings and asset quality; upgrade to MARKET WEIGHT

Larger banks (SOEs and JSBs) outperformed smaller ones (city banks and rural commercial banks) in asset quality and profit growth in 1Q20. Amid the current economic downturn, larger banks showed better NPL management ability while higher provisions offered protection from asset deterioration. Besides, larger banks showed a better ability to moderate NIM compression in the low interest environment. Upgrade the sector to MARKET WEIGHT; top pick is CCB (939 HK).

UOB
Eric Wang Zhen ...
  • Jayson Kong

Bank of Ningbo - 1Q20: So far so good, but concerns remain; upgrade to HOLD.

BNB achieved robust growth in revenue (+33.7% yoy) and net profit (+18.2% yoy) in 1Q20. NIM was compressed by lower market lending rate. Asset quality remained solid as its NPL ratio and provision coverage ratio maintained sector-leading positions. We narrow our valuation discount in view of BNB’s ability to deliver consistent profit growth amid weak economic conditions. Upgrade to HOLD with a higher target price of Rmb23.16. Entry price: Rmb21.05.

UOB
Chaiwat Arsirawichai ...
  • Chong Lee Len
  • Eric Wang Zhen
  • Jack Goh Tooan Orng
  • Jayson Kong
  • Jie Ying Chloe Tan
  • Jonathan Koh
  • Ken Lee
  • Loke Pei Hao
  • Stevanus Juanda
  • Vincent Khoo Boo Aik

Regional Morning Notes - Monday, April 27, 2020

GREATER CHINA Sector Automobile: China unexpectedly cut EV subsidies and capped subsidised EV sales in 2020-22. Cut target prices of BYD and CATL to HK$35.00 and Rmb55.00. Downgrade BYD to SELL. Results Bank of Ningbo (002142 CH/HOLD/Rmb23.52/Target: Rmb23.16): 1Q20: So far so good, but concerns remain; upgrade to HOLD. Chongqing Rural and Commercial Bank (3618 HK/HOLD/HK$3.11/Target: HK$3.25): 1Q20: Profit drops in line with expectations; deposit structure is deteriorating. Contemporary Amperex Technology (300750 CH/SELL/Rmb131.69/Target: Rmb55.00): 4Q19: Core net profit drops 17% yoy and qoq...

UOB
Eric Wang Zhen ...
  • Jayson Kong
  • Joyce Chan Pui Lai
  • Ken Lee

Greater China Daily: Monday, April 27, 2020

KEY HIGHLIGHTS Sector Automobile China unexpectedly cut EV subsidies and capped subsidised EV sales in 2020-22. Cut target prices of BYD and CATL to HK$35.00 and Rmb55.00. Downgrade BYD to SELL. Results Bank of Ningbo (002142 CH/HOLD/Rmb23.52/Target: Rmb23.16) 1Q20: So far so good, but concerns remain; upgrade to HOLD. Chongqing Rural and Commercial Bank (3618 HK/HOLD/HK$3.11/Target: HK$3.25) 1Q20: Profit drops in line with expectations; deposit structure is deteriorating. Contemporary Amperex Technology (300750 CH/SELL/Rmb131.69/Target: Rmb55.00) 4Q19: Core net profit drops 17% yoy and...

Moody's announces completion of a periodic review of ratings of Bank of Ningbo Co., Ltd.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Bank of Ningbo Co., Ltd.. Global Credit Research- 24 Apr 2020. Hong Kong, April 24, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Bank of Ningbo Co., Ltd. and other ratings that are associated with the same analytical unit.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

More cracks begin to show Weaker than expected data out of China and an as-expected 0.1% preliminary GDP contraction for the 2nd quarter in Germany has global equities back on the defensive, with the MSCI ACWI, ACWI ex-US, and EAFE back near logical support. In last week's Int'l Compass we noted that some cracks are beginning to show in the form of STOXX 600 Banks and Brent crude breakdowns, which led us to believe global equities are vulnerable to a breakdown. Below we highlight more cracks that are showing, which only increases the likelihood that equities may be poised to break down. • Mo...

1 director sold

A director at Bank Of Ningbo Co Ltd sold 15,000 shares at 23.500CNY and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names o...

UOB
Eric Wang Zhen ...
  • Jayson Kong

Banking - Large banks displayed resilience in earnings and asset quality; upgrade to MARKET WEIGHT

Larger banks (SOEs and JSBs) outperformed smaller ones (city banks and rural commercial banks) in asset quality and profit growth in 1Q20. Amid the current economic downturn, larger banks showed better NPL management ability while higher provisions offered protection from asset deterioration. Besides, larger banks showed a better ability to moderate NIM compression in the low interest environment. Upgrade the sector to MARKET WEIGHT; top pick is CCB (939 HK).

UOB
Eric Wang Zhen ...
  • Jayson Kong

Bank of Ningbo - 1Q20: So far so good, but concerns remain; upgrade to HOLD.

BNB achieved robust growth in revenue (+33.7% yoy) and net profit (+18.2% yoy) in 1Q20. NIM was compressed by lower market lending rate. Asset quality remained solid as its NPL ratio and provision coverage ratio maintained sector-leading positions. We narrow our valuation discount in view of BNB’s ability to deliver consistent profit growth amid weak economic conditions. Upgrade to HOLD with a higher target price of Rmb23.16. Entry price: Rmb21.05.

UOB
Chaiwat Arsirawichai ...
  • Chong Lee Len
  • Eric Wang Zhen
  • Jack Goh Tooan Orng
  • Jayson Kong
  • Jie Ying Chloe Tan
  • Jonathan Koh
  • Ken Lee
  • Loke Pei Hao
  • Stevanus Juanda
  • Vincent Khoo Boo Aik

Regional Morning Notes - Monday, April 27, 2020

GREATER CHINA Sector Automobile: China unexpectedly cut EV subsidies and capped subsidised EV sales in 2020-22. Cut target prices of BYD and CATL to HK$35.00 and Rmb55.00. Downgrade BYD to SELL. Results Bank of Ningbo (002142 CH/HOLD/Rmb23.52/Target: Rmb23.16): 1Q20: So far so good, but concerns remain; upgrade to HOLD. Chongqing Rural and Commercial Bank (3618 HK/HOLD/HK$3.11/Target: HK$3.25): 1Q20: Profit drops in line with expectations; deposit structure is deteriorating. Contemporary Amperex Technology (300750 CH/SELL/Rmb131.69/Target: Rmb55.00): 4Q19: Core net profit drops 17% yoy and qoq...

UOB
Eric Wang Zhen ...
  • Jayson Kong
  • Joyce Chan Pui Lai
  • Ken Lee

Greater China Daily: Monday, April 27, 2020

KEY HIGHLIGHTS Sector Automobile China unexpectedly cut EV subsidies and capped subsidised EV sales in 2020-22. Cut target prices of BYD and CATL to HK$35.00 and Rmb55.00. Downgrade BYD to SELL. Results Bank of Ningbo (002142 CH/HOLD/Rmb23.52/Target: Rmb23.16) 1Q20: So far so good, but concerns remain; upgrade to HOLD. Chongqing Rural and Commercial Bank (3618 HK/HOLD/HK$3.11/Target: HK$3.25) 1Q20: Profit drops in line with expectations; deposit structure is deteriorating. Contemporary Amperex Technology (300750 CH/SELL/Rmb131.69/Target: Rmb55.00) 4Q19: Core net profit drops 17% yoy and...

UOB
Eric Wang Zhen ...
  • Jayson Kong

Banking - 2019 results review: In-line, but downbeat on NIM and NPL in 2020

We foresee an all-round deterioration in the sector’s fundamentals in 2020, expecting an 8bp NIM compression and at least 6bp increase in NPL ratio. Banks should raise more capital in 2020 to prepare for a potentially higher default rate. Default rate on credit card loans may increase while asset quality on SME loans should also deteriorate in 2021 and 2022 (due to loan moratorium). Maintain UNDERWEIGHT on the sector; top pick is China Merchants Bank (3968 HK).

Moody's announces completion of a periodic review of ratings of Bank of Ningbo Co., Ltd.

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Bank of Ningbo Co., Ltd.. Global Credit Research- 24 Apr 2020. Hong Kong, April 24, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Bank of Ningbo Co., Ltd. and other ratings that are associated with the same analytical unit.

Bank of Ningbo Co., Ltd.: Update following rating affirmation, outlook changed to negative

Our credit view of Bank of Ningbo, reflecting its potential deterioration in asset quality, pressure on profitability but slightly improving funding structure and adequate liquid resources.

Bank of Ningbo Co., Ltd.: Update to credit analysis

Our credit view of Bank of Ningbo, reflecting its healthy asset quality, adequate liquid resources, narrowing net interest margin and relatively high reliance on market funds.

Bank of Ningbo Co., Ltd.: Key facts and statistics - FYE December 2018

A summary company profile, detailing Bank of Ningbo Co., Ltd.’s business operations and financial highlights.

Bank of Ningbo Co., Ltd.: Update to credit analysis

Our credit view of Bank of Ningbo, reflecting its healthy asset quality, adequate liquid resources, narrowing net interest margin and relatively high reliance on market funds.

UOB
Carol Dou Xiao Qin ...
  • Charles Wong Kok Min
  • Eric Wang Zhen
  • Jayson Kong
  • Johnny Yum Chung Man
  • Joyce Chan Pui Lai
  • Julia Cheung Pui Man
  • K Ajith
  • Ken Lee
  • Lee Yuk Kei
  • Michael Cheung Ho Bun
  • Neo Chen Wentao
  • Robin Yuen
  • Sandra Huang Jieqiong

Greater China Daily: Friday, August 30, 2019

KEY HIGHLIGHTS Results Air China (753 HK/BUY/HK$6.82/Target: HK$8.00) 1H19: Results in line with strong cash generation. Bank of Ningbo (002142 CH/HOLD/Rmb22.32/Target: Rmb24.11) 1H19: Results in line; NIS expanded and sufficient provisions for headwinds. China Mengniu Dairy (2319 HK/BUY/HK$31.50/Target: HK$35.00) 1H19: Driving top-line with operational excellence. Dongfeng Motor (489 HK/BUY/HK$7.16/Target: HK$10.00) 1H19: Earnings beat estimates on surprisingly strong CV business; raise target price to HK$10.00. Industrial and Commercial Bank of China (1398 HK/BUY/HK$4.89/Target: HK$5.8...

BANK OF NINGBO CO.LTD. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of BANK OF NINGBO CO.LTD. (CN), a company active in the Money Center Banks industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 10, 2020, the closing price was CNY 29.16 and its potential was estimated at CNY 31.97.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch