Equity Analysis /
Hong Kong

HK : China Minsheng Bank - 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 ratios in FY20. Hold rating unchanged. TP falls marginally to HK$4.10 from HK$4.40.