|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||15.96 - 16.32|
|52 Week Range||14.10 - 18.54|
|Beta (3Y Monthly)||1.35|
|PE Ratio (TTM)||5.15|
|Forward Dividend & Yield||0.89 (5.64%)|
|1y Target Est||N/A|
China needs to resolve outstanding financial risks, and must counter risks from "abnormal" market fluctuations that stem from external shocks, said the central bank on Monday, as Beijing prioritises financial stability amid increasing challenges. Financial markets are highly sensitive to global trade situations and rising uncertainties in global liquidity, said the People's Bank of China (PBOC) in its annual financial stability report, adding that it will step up real-time supervision on stock, bond, foreign exchange markets to prevent cross-sector risk contamination. Beijing has stepped up daily supervisions and assessment on potential "black swan" and "grey rhino" events that may occur in the future and has prepared contingency plans, as downward pressure on the economy rises, said the PBOC.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of China Construction Bank (Europe) S.A. Paris, November 18, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of China Construction Bank (Europe) S.A. and other ratings that are associated with the same analytical unit. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Rating Action: Moody's assigns A1 rating to senior unsecured notes issued by China Construction Bank Corporation, Singapore Branch; outlook stable. Global Credit Research- 07 Nov 2019. Hong Kong, November ...
(Bloomberg Opinion) -- A charismatic entrepreneur who prioritized growth over profitability, ran up a massive rent bill and then stepped aside when it looked like the company might run out of cash. No, not WeWork Cos Inc.; I’m talking about Norwegian Air Shuttle ASA.On Thursday the hip transatlantic airline, loved by bargain-hunting American millennials, announced the first fruits of its turnaround under a new chief executive officer. Geir Karlsen replaced the company’s co-founder Bjorn Kjos as CEO this summer, and Norwegian’s chairman Bjorn Kise stood down in May.As well as reporting surprisingly good earnings for the third quarter, Norwegian announced a long-awaited aircraft-buying venture with a leasing subsidiary of China Construction Bank Corporation. The deal should help Norwegian keep more of its own cash, which is handy given the airline’s massive spending commitments and other liabilities. Including lease obligations, Norwegian has $6.8 billion of net debt. The shares surged as much as 23% on the news, bruising the many hedge funds shorting Norwegian’s stock.As with WeWork, Norwegian’s once giddy valuation imploded last year when investors started to doubt that the balance sheet was robust enough to support Kjos’s huge ambitions. Not content with revolutionizing transatlantic air travel, he started domestic flights in Argentina too.The stock has lost more than three-quarters of its value since April 2018, and a capital increase in January did little to stop the rot: Credit card companies became anxious about Norwegian’s prospects and held back money it was due on ticket sales. Shareholders wanted evidence that Norwegian recognized the gravity of its situation and was responding. At last that appears to be happening.Recently the company secured a two-year extension on about $380 million of debt that was about to mature. Norwegian has also reined in costs and sold aircraft. Meanwhile, capacity growth is expected to be flat this year and may decline by as much as 10% next year. That sounds like heresy for a growth company but it’s the right answer in such desperate circumstances.This doesn’t mean Norwegian’s in the clear. The June to September quarter is always good for airlines, while the winter months are much tougher because there are fewer passengers and there’s less cash coming in. Boeing Co.’s inability to restart deliveries of the 737 Max passenger jet creates additional costs for Norwegian, which is a big buyer of the aircraft, and it’s still not clear when these issues will be resolved. For now, though, Norwegian is proof that losing a charismatic founder needn’t destroy a company’s fortunes. Indeed, it might be just the ticket.To contact the author of this story: Chris Bryant at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Norwegian Air unveiled higher-than-expected earnings and a deal to offload 27 new Airbus jets, sending its shares sharply higher on hopes that the low-cost carrier can avoid becoming the latest in a series of airline collapses. The carrier on Thursday posted third-quarter net income of 1.67 billion crowns (£141.9 million), raised its 2019 savings goal and outlined plans to cut capacity while increasing operating profit by 4 billion crowns over two years. Under a long-awaited joint venture, Norwegian will sell its A320 NEO planes on order from Airbus to a new leasing company 70% owned by China Construction Bank , generating a much-needed cash profit on each aircraft due in 2020-2023.
Rating Action: Moody's assigns A1 rating to green bonds issued by China Construction Bank's two branches; outlook stable. Global Credit Research- 21 Oct 2019. Hong Kong, October 21, 2019-- Moody's Investors ...
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of CCB Financial Leasing Corporation Ltd. Hong Kong, September 06, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of CCB Financial Leasing Corporation Ltd. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
BEIJING/SHANGHAI (Reuters) - China's banks face pressure on earnings and asset quality in the coming months as interest rate reforms squeeze margins and a Chinese-U.S. trade war adds to economic uncertainty. Three of the nation's top listed banks this week each reported a profit rise of nearly 5% in the first half of the year, but warned they faced headwind. "The trade war causes uncertainty, and there is downward pressure on the economy," Gu Shu, president of the world's largest commercial lender, Industrial and Commercial Bank of China (ICBC), told a news conference on Thursday.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of China Construction Bank (New Zealand) Limited and other ratings that are associated with the same analytical unit. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Rating Action: Moody's assigns A1 rating to senior unsecured notes to be issued by two branches of China Construction Bank; outlook stable. Global Credit Research- 21 Jun 2019. Hong Kong, June 21, 2019-- ...
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of China Construction Bank Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
BEIJING/SINGAPORE, April 29 (Reuters) - China Construction Bank Ltd (CCB), the country's second-largest lender by assets, posted a lower than expected 4.2 percent increase in first-quarter profit as its ...
Malaysia's national carmaker Proton has secured 1.88 billion ringgit ($455.10 million) in banking facilities from China Construction Bank to fund expansion around the region, it said in a statement late Friday. The loans are earmarked for Proton's growth plans to be the number one automotive brand in Malaysia and number three in ASEAN by 2027, the company said. "Expansion to foreign markets is critical for sales growth while obtaining financing allows the company to invest in the many projects required to turn Proton into a truly global automotive brand," Chairman Syed Faisal Albar said in the statement.
BEIJING/HONG KONG (Reuters) - China's top four state-controlled banks warned bad loans could rise and interest margins would shrink industry-wide, as three of them posted their weakest quarterly profit growth in more than two years. Top lender Industrial and Commercial Bank of China (ICBC) reported flat net profit of 58.05 billion yuan ($8.63 billion) for the fourth quarter, the first time it has seen no growth in a quarter since the July-September 2016 quarter. Agricultural Bank of China Ltd (AgBank), the third-largest lender, also posted a drop of 5.4 percent on Friday in fourth-quarter net profit, its first quarterly decline since 2015.
* Profit at 40.55 bln yuan vs 43 bln yuan analyst view -Reuters calc * NPL 1.46 pct at December-end vs 1.47 pct three months prior * Net interest margin at 2.31 pct from 2.34 pct at September-end * (Adds ...
SINGAPORE/HONG KONG, March 27 (Reuters) - China Construction Bank Corp (CCB) reported a 1 percent drop in fourth-quarter net profit on Wednesday, missing analysts' estimates. China's second-biggest lender ...
Moody's Investors Service ("Moody's") today affirmed the A2 long-term deposit and issuer ratings of China Construction Bank (Europe) S.A. (CCB Europe), with a stable outlook, and its Prime-1 short-term deposit and issuer ratings. The agency also affirmed the bank's standalone baseline credit assessment (BCA) of ba2, its adjusted BCA of baa2, its Counterparty Risk (CR) assessment of A1 (cr)/Prime-1(cr) and its long-term and short-term Counterparty Risk Ratings (CRRs) of A1 and Prime-1, respectively.
Resolution of legacy business misconducts will go a long way in removing legal uncertainty for UBS Group (UBS) and Standard Chartered (SCBFF).