Bank of Communications Saw Strong PPOP Growth in 2018; Credit Quality Outlooks Improved
With a 4.9% growth in net profits, no-moat Bank of Communications' 2018 results showed continuous operating improvement since the new management came on board in 2018. As a bank with higher reliance on wholesale funding than large SOE peers, its accelerated core earnings growth in the second half was primarily attributable to net interest margin, or NIM, expansion. This was due to lower interbank rates after the central bank’s liquidity injection. Given the result were largely in line, we retain...
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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