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
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(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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