Equity Analysis /
China

CN : China Minsheng Bank-A - Finetuning estimates

    Michael Chang
    Michael Chang

    Equity Research Analyst, Banks and Insurance

    CGS-CIMB
    14 April 2021
    Published by

    We trim FY21F-23F EPS by 1%. MSB remains our least preferred H-share bank given its lowest-of-peer core Tier 1 ratio and provisioning coverage ratio in FY20. Reiterate Reduce. TP falls marginally to Rmb3.80 from Rmb4.10.