Bank of Communications' 2017 Results Remained Weaker Than Large Peers
No-moat Bank of Communications' 2017 results were largely in line, posting 1.5% year-on-year growth in revenue and 4.5% growth in net profits. The results indicated its underperformance in net interest income, which contracted 5.6% and in sharp contrast to the 8% to 11% growth for big four banks. This was attributable to a 30 percentage point contraction in net interest margin to 1.58% on weak deposit growth and increasing shares of interbank funding, leading to a 22 basis point increase in fund...Bank of Communications is engaged in the provision of banking and related financial services. Co. organizes its business into four segments: retail banking, corporate banking, treasury and others. Corporate banking comprises corporate loans, bills, trade finance, corporate deposits and remittance. Retail banking comprises retail loans, retail deposits, credit card and remittance. Treasury comprises money market placements and takings, investment in securities, and securities sold subject to linked repurchase agreements. Co. has 113 domestic branches and 2,648 outlets in the People's Republic of China, 9 overseas institutions and 2 representative office in London and Sydney.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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