CMBC's 3Q Revenue Growth Was Weaker Than Peers'
China Minsheng Bank’s third-quarter results remained lackluster, as challenges brought by its difficult transformation were further compounded by the ongoing financial deleveraging, leading to the lowest top-line growth level in the industry. Total revenue and core earnings, as measured by preprovision operating profits, or PPOP, shrank 9% and 8.8%, respectively, from the year-ago period. We retain our fair value estimate for CMBC’s A-shares at CNY 7.10 and slightly increase that for H-shares to...CHINA MINSHENG BANKING CORP., LTD. (the Bank) is a China-based financial institution principally engaged in corporate banking, personal banking, capital business and other business. The Bank operates its business mainly in North China, East China, South China and other areas in China.
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