China Banks – Subtle Risk Deterioration
There is a major difference in risk profile of China and US banks. Here we are specifically referring to the degree of accumulated loan loss...
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China Bohai Bank IPO: Valuation Insights
China Bohai Bank (9668 HK) is the youngest nationwide joint-stock commercial bank in China. In 2005, Bohai was established and became the only...
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Bank of Hangzhou: The Tide Must Reach Its Lowest Before It Turns
While Bank of Hangzhou Co Ltd (600926 CH) may tick the boxes for fundamental progression and valuation, we remain on the sidelines.The bank does...
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China Banks – Worsening Macro Will See Higher Bad Loans
It is hard to envisage a positive reading of the abysmal 6.1% YoY fixed asset investment growth in China for May 2018 year-to-date. Headlines and...
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PICC P&C – Heavy Headwinds
* Regulatory Challenges: Auto pricing reform is negative for P&C segment loss ratios given the higher premium discounts; and mainland Chinese...
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