China's Huishang Bank hits 4-month peak on robust earnings outlook

Huishang Bank

20/02/2025 02:42

** Shares of Huishang Bank Corp  3698.HK  rise 4.7% to
HK$2.68, their highest since October 8
    ** Stock on course for biggest one-day pct rise since
October 7, if gains hold
    ** Co expects its 2024 net profit to rise 6% y/y to 15.9
billion yuan ($2.18 billion), operating income up 2.1% y/y at 37
billion yuan and total assets up 11.5% y/y at 2 trillion yuan
    ** Says asset quality improved with non-performing loan
ratio of 0.99%, representing a decrease of 0.27 percentage
points from a year earlier
    ** Hang Seng Mainland Banks Index  .HSMBI  slips 0.5%, index
tracking financials stocks  .HSCIF  eases 1.2% and Hang Seng
Index  .HSI  falls 2.1%
    ** Huishang Bank shares up 6.5% YTD

($1 = 7.2810 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))