Bank of Communications Co Ltd Class A
601328: XSHG (CHN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥3.50 | Ctj | Yjxxdcwz |
Bocom Is in a Good Position to Capture the Promising Growth Opportunity in the Yangtze River Delta
Business Strategy and Outlook
Striving to become China's leading wealth-management bank, Bocom is building its international presence and developing a wide range of financial service businesses. The bank achieved solid progress in the transformation, as evidenced by its rising retail customer base, customer assets under management, and a booming credit card business. Its deposit base remained weaker than those moaty peers, resulting in higher funding costs for the bank. We expect Bocom still has a long way toward its goal of being a leading wealth management bank.