East Asia Qianhai Securities maintains Industrial Bank’s recommendation rating for 2021 Annual Report Comments: Polishing Three Business Cards, Strong Revenue Growth Momentum

East Asia QianhaisecuritiesPosted on March 28Research reportsay, maintainIndustrial Bank(601166.SH, latest price: 20.03 yuan) Recommended rating. The reasons for the rating mainly include: 1)performancePerspective: Non-interest income has increased rapidly, and provisions have fed back profits; 2) dragged down by asset-side yields, the net interest margin will continue to narrow in 2021, and the Q4 single-quarter net interest margin in 2021 will rise against the trend; 3) “Big Fortune + The system of “Big Asset Management + Big Investment Banking” is becoming more and more perfect, with more income from intermediary business; 4) The growth rate of total loan expansion has slowed down, and green finance is at the forefront; 6) The provision coverage ratio continued to rise, and there was no pressure on capital replenishment for the time being. Risk warning: The macroeconomic growth rate is down; real estate risks are rising; the implementation of green policies is less than expected, etc.

AI comments:Industrial Bank13 in the past monthbrokerageAccording to the research report, 7 companies are bought, 3 companies are increased, and 2 companies are strongly recommended. The average target price is 31.9 yuan, which is 11.87 yuan higher than the latest price of 20.03 yuan, and the average target price increases by 59.27%.

(Article source: Daily Economic News)

Article source: Daily Economic News

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Original title: East Asia Qianhai Securities maintains the recommendation rating of Industrial Bank, 2021 annual report comments: polish three business cards, the growth momentum of middle income is strong