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Daiwa Initiates Buy on CCB with TP at HKD11.05; Top Pick Among CN Banks
2026-09-18 11:11:49
Daiwa issued a report initiating coverage on CCB (00939.HK) with a Buy rating and a target price of HKD11.05, naming its top pick among Chinese banks.

The broker said CCB's ROE was at 10.1% for 2025, the second-highest among large state-owned banks, thanks to funding cost advantages and fee income contribution. Its NIM bottomed ahead of peers and was expected to rebound in 1Q26, widening to 1.38% in 2Q26. Fee income accounted for 14.5% of revenue in 2025, the highest among state-owned banks.
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AASTOCKS Financial News
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