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2025-04-28 15:22:47 PING AN (02318.HK)'s 1Q25 net profit fell 26% YoY to RMB27 billion, weighed down by a drop in investment income, according to BofA Securities' research report. Its 1Q25 VONB is estimated to rise 35% YoY, based on current forecasts. 1Q25 results mixed as the Company remained weak in the face of market volatility, but VONB growth beat expectation, BofA Securities added. Furthermore, the Group's PING AN BANK(000001.SZ) reported a 6% YoY decline in 1Q25 net profit, with a rebound in net interest margin. However, a decrease in fee income and other non-interest income dented its revenue and net profit, a trend the broker predicted to continue for the rest of the year. Therefore, BofA Securities also dropped its target price for PING AN's H-shares by 3% to $60 from $62, with rating kept at Buy. ~ AAStocks Financial News Web Site: www.aastocks.com | |