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China's Luzhou Bank H1 net profit rises 11% on higher interest income

China's Luzhou Bank H1 net profit rises 11% on higher interest income


Overview

  • China regional bank's interim net profit attributable to shareholders rose 11% yr/yr

  • Operating income for the half-year grew nearly 16%, driven by higher net interest income

  • Net fee and commission income and trading gains declined, offset by asset growth and lower liability costs


Outlook

  • Luzhou Bank did not provide specific financial guidance for the current or future periods in the press release


Result Drivers

  • NET INTEREST INCOME - Increase driven by growth in interest-earning assets and lower cost rate of interest-bearing liabilities

  • NON-INTEREST INCOME DECLINE - Lower fee and commission income and trading gains weighed on results


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Net Income Attributable

RMB 1.001 bln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the banks peer group is "buy"

  • The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 4 three months ago


Reuters Recommended Reads

  • Aug 25 - China's Central China Securities H1 net income rises

  • Aug 24 - China's X Financial Q2 revenue falls 56% on lower loan volumes

  • Aug 25 - Hong Kong's Astrum Financial interim revenue rises on securities and IPO financing


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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