Trending: China Merchants Bank Shares Fall After Operating Income Decline
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Dow Jones
0904 GMT - China Merchants Bank Co. is one of the most mentioned companies in the news over the past 12 hours, according to Factiva data. The Chinese bank reported on Thursday a 1.5% on-year decline in first-quarter operating income. Net income rose 1.7%, missing a 4.3% consensus estimate in a Visible Alpha poll. The bank's net interest margin was likely squeezed by cheaper mortgage loans made in response to Chinese officials cutting mortgage rates to shore up the country's real-estate market, according to Citi analysts. China Merchants shares fell 5.2% in Hong Kong. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
April 27, 2023 05:19 ET (09:19 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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