Bank of Communications Co Ltd Class A
601328: XSHG (CHN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥3.10 | Vgbv | Vrqdjnkr |
Bocom’s Credit Quality Improves, but Earnings Outlook Still Challenging
Bank of Communications', or Bocom’s, full-year 2022 total revenue slowed to 1.3% year on year from 5% in the first three quarters, as fourth-quarter fee income fell 6.2% from 2021 levels. Despite the slowing revenue growth, net profit growth remained relatively steady at 5.2%, partly on provision release, which we had expected.