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

Reuters
02-20
BUZZ-China's Huishang Bank hits 4-month peak on robust earnings outlook

** 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))

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