Bank of China International: Upgraded the target price ratings of three Chinese banks to “buy”

The Zhitong Finance App learned that Bank of China International released a research report saying that CCB (00939)'s net profit to mother for the second quarter of 2026 increased 5.8% year-on-year, up from 3.5% in the first quarter. The non-performing loan ratio fell to 1.29% at the end of June, an improvement from 1.31% at the end of last year. The bank raised CCB's target price to HK$11.56, maintaining a “buy” rating.

ICBC (01398)'s net profit for the second quarter increased 3.3% year-on-year, the same as the first quarter. Asset quality improved, and net interest spreads may stabilize in the first half of the year. The bank's target price was raised to HK$9.44, maintaining the “buy” rating.

Agricultural Bank (01288)'s net profit for the second quarter increased 5.4% year on year, up from 4.5% in the first quarter. The net interest spread remained unchanged at 1.28% in the first half of the year, and asset quality improved. The target price was raised to HK$7.46, maintaining the “buy” rating.