0609 GMT - Agricultural Bank of China's net interest income is likely to continue benefiting from an ongoing decline in funding costs, after falling 27 basis points on year in 1H, say DBS Group Research analysts in a note. The analysts expect this to support the Chinese lender's net interest margin trend throughout the year. They also anticipate the lender's earnings growth momentum to continue, projecting a 4.4% compound annual growth rate for profit over 2025-2028. DBS raises its target price on the Hong Kong-listed shares to 7.10 Hong Kong dollars from HK$6.20 and reiterates its buy rating. Shares rise 2.4% to HK$6.50.
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Agricultural Bank of China Set to Gain from Decline in Funding Costs
Dow Jones09-01 14:09
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