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Ping An Bank Co., Ltd. (000001) Report Analysis

Corporate Events

Neutral

Ping An Bank Co., Ltd., Annual General Meeting,...

2022-06-07 19:32:00

Ping An Bank Co., Ltd., Annual General Meeting, Jun 28, 2022, at 14:30 China Standard Time. Agenda: To consider 2021 work report of the board ...

Positive

HSBC and Ping An Reportedly Plan Breakup Talks

2022-05-04 16:03:00

HSBC Holdings plc (LSE:HSBA) and Ping An Bank Co., Ltd. (SZSE:000001) executives plan to meet in mid-May 2022 to discuss the Chinese insurer's...

Neutral

Ping An Bank Co., Ltd. to Report Q1, 2022 Resul...

2022-02-23 11:16:00

Ping An Bank Co., Ltd. announced that they will report Q1, 2022 results on Apr 26, 2022

Neutral

Ping An Bank Co., Ltd. - Special Call

2021-11-30 02:00:00

2021 Investors Online Reception Day

Positive

Ping An Bank Launches Cross-Boundary Wealth Man...

2021-10-25 07:27:00

Ping An Bank has launched services under the Cross-boundary Wealth Management Connect pilot scheme on 19 October. The Bank's service expansion...

Neutral

Ping An Bank Co., Ltd. - Special Call

2021-10-21 03:18:00

2021 Corporate & Risk Open Day

Neutral

Ping An Bank Co., Ltd. to Report Q3, 2021 Resul...

2021-10-19 18:58:00

Ping An Bank Co., Ltd. announced that they will report Q3, 2021 results on Oct 20, 2021

Neutral

Ping An Bank Co., Ltd. to Report First Half, 20...

2021-08-19 00:00:00

Ping An Bank Co., Ltd. announced that they will report first half, 2021 results on Aug 19, 2021

Neutral

Ping An Bank Co., Ltd., H1 2021 Earnings Call, ...

2021-08-03 03:12:00

Ping An Bank Co., Ltd., H1 2021 Earnings Call, Aug 20, 2021

Neutral

Ping An Bank Co., Ltd., Special/Extraordinary S...

2021-07-20 19:32:00

Ping An Bank Co., Ltd., Special/Extraordinary Shareholders Meeting, Aug 05, 2021, at 14:30 China Standard Time. Agenda: To consider election o...

Neutral

Ping An Bank Co., Ltd., Annual General Meeting, Jun 28, 2022

2022-06-07 19:32:00

Ping An Bank Co., Ltd., Annual General Meeting, Jun 28, 2022, at 14:30 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual report and its summary; to consider 2021 annual accounts and 2022 financial budget report; to consider 2021 profit distribution plan; to consider 2021 connected transactions results and report on the implementation of connected transactions management system; to consider Appointment of 2022 audit firm; and to consider other matters.

Positive

HSBC and Ping An Reportedly Plan Breakup Talks

2022-05-04 16:03:00

HSBC Holdings plc (LSE:HSBA) and Ping An Bank Co., Ltd. (SZSE:000001) executives plan to meet in mid-May 2022 to discuss the Chinese insurer's proposal that the bank should explore strategic options such as spinning off its Asian business, a source familiar with the matter said on May 4, 2022. The source declined to be identified due to the sensitivity of the situation. Ping An did not respond to requests for comment. HSBC declined to comment. Europe's biggest lender by total assets has not commented on Ping An's proposal but defended its structure last week, saying in a statement that it believed it had the right strategy and was focused on delivery.

Neutral

Ping An Bank Co., Ltd. to Report Q1, 2022 Results on Apr 26, 2022

2022-02-23 11:16:00

Ping An Bank Co., Ltd. announced that they will report Q1, 2022 results on Apr 26, 2022

Neutral

Ping An Bank Co., Ltd. - Special Call

2021-11-30 02:00:00

2021 Investors Online Reception Day

Positive

Ping An Bank Launches Cross-Boundary Wealth Management Connect Services in Greater Bay Area

2021-10-25 07:27:00

Ping An Bank has launched services under the Cross-boundary Wealth Management Connect pilot scheme on 19 October. The Bank's service expansion opens a new chapter in the integration of Guangdong, Hong Kong and Macao, accelerating the financial markets' connectivity and development. The Cross-boundary WMC enables residents in Hong Kong, Macao and nine cities in Guangdong Province to make cross-boundary investments in wealth management products distributed by banks in the area. Ping An Bank, one of the first banks to participate in the pilot scheme, received approval from the People's Bank of China and the Hong Kong Monetary Authority on 18 October. The Cross-boundary WMC includes the Southbound Scheme and the Northbound Scheme. In the Northbound Scheme, Ping An Bank offers fixed-income top wealth management products tailor-made by its wealth management subsidiary Ping An Wealth Management. Ping An Bank also partners with first-tier fund companies in mainland China, such as E Fund and ZO Asset Management, to select mutual funds with low subscription fees and quality service exclusively for Hong Kong and Macao clients. Amid COVID-19 travel restrictions, the Bank enables Hong Kong and Macao clients who already have accounts with Ping An Bank in the Greater Bay Area to sign an e-agreement, link to the transfer account at OCBC Wing Hang Bank of Hong Kong, and activate the Northbound Scheme function in the Ping An Pocket Bank app. They can then purchase or redeem domestic wealth management products in mainland China online. There is no need to visit to a bank branch. However, new customers must open a bank account by visiting a Greater Bay Area branch in person. For the Southbound Scheme, Mainland investors can open a cross-border investment account through Ping An Bank without travelling to Hong Kong or Macao. They can then invest in eligible wealth management products distributed by OCBC Wing Hang Bank of Hong Kong via the Ping An Pocket Bank app.

Neutral

Ping An Bank Co., Ltd. - Special Call

2021-10-21 03:18:00

2021 Corporate & Risk Open Day

Neutral

Ping An Bank Co., Ltd. to Report Q3, 2021 Results on Oct 20, 2021

2021-10-19 18:58:00

Ping An Bank Co., Ltd. announced that they will report Q3, 2021 results on Oct 20, 2021

Neutral

Ping An Bank Co., Ltd. to Report First Half, 2021 Results on Aug 19, 2021

2021-08-19 00:00:00

Ping An Bank Co., Ltd. announced that they will report first half, 2021 results on Aug 19, 2021

Neutral

Ping An Bank Co., Ltd., H1 2021 Earnings Call, Aug 20, 2021

2021-08-03 03:12:00

Ping An Bank Co., Ltd., H1 2021 Earnings Call, Aug 20, 2021

Neutral

Ping An Bank Co., Ltd., Special/Extraordinary Shareholders Meeting, Aug 05, 2021

2021-07-20 19:32:00

Ping An Bank Co., Ltd., Special/Extraordinary Shareholders Meeting, Aug 05, 2021, at 14:30 China Standard Time. Agenda: To consider election of Zhang Xiaolu as a non-executive director.

Fundamental Summary

Ping An released impressive Q1 results on 2022-04-26. Their growth, value, and income factors performance indicate that company management is focused on the right targets and executing well. There should be significant upside potential for the stock looking forward. As such, Ping An received an overall score of 87 and a STRONG BUY recommendation.

Ping An reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported net interest income was CNY 31,942 million compared to CNY 29,766 million a year ago. Net income was CNY 12,850 million compared to CNY 10,132 million a year ago. Basic earnings per share from continuing operations was CNY 0.56 compared to CNY 0.42 a year ago. Diluted earnings per share from continuing operations was CNY 0.56 compared to CNY 0.42 a year ago.

Business Description

Ping An provides commercial banking products and services to individuals, corporate, interbank, and small enterprises in the People's Republic of China. The company accepts deposits; issues short-, medium-, and long-term loans; and handles domestic and foreign settlements, and bill acceptance and discounting. It also engages in the issuance of financial bonds; issuance, sale, purchase, agency redemption, and underwriting of government bonds and financial bonds; interbank lending; sale, purchase, and agency trading of foreign exchange; bank card business; and provision of letter of credit services and guarantees, and safe deposit box services. In addition, the company is involved in the agency collection and payment services; agency insurance business; foreign exchange settlement and sales services; offshore banking business; asset custody business; gold business; financial consulting, credit investigation, consulting, and witnessing business; trade financing; corporate and interbank financial management; and interbank businesses. As of June 2020, it operated through a network of 92 branches and 1,078 business institutions. The company was founded in 1987 and is headquartered in Shenzhen, the People's Republic of China.

Sector Overview

Ping An is included in the Banks according to GICS (global industry classification standard). The Banks industry, which is in the Financials sector, includes Diversified & Regional Banks whose operations focus on conventional banking, retail banking, and lending to SMEs (small and medium enterprises). Ping An's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 5,117,949.0 4.0% 78
Liabilities 4,711,774.0 4.1% 79
Price to Book 0.8 -9.6% 79
Cash & Equivalents 304,962.0 39.1% 88
Equity 386,222.0 2.9% 69
Total Revenues 100,549.0 3.9% 53
Parameter Value Change Score
Return on Equity 10.0 4.8% 81
Net Cashflow 21,571.0 140.1% 91
Capital Expenditure -2,645.0 56.3% 96
Free Cashflow -2.0 81.1% 42

* All values are TTM

The below chart reflects Ping An's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Ping An's peer average final assessment score stands on 74.0, Ping An's score is 87.

  •  000001
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
Bank of Ningbo Co., Ltd. 225.7B 89 70 71
Buy
86
86 0 1
Bank of Suzhou Co., Ltd. 22.1B 92 60 61
Buy
80
80 1 1
Qingdao Rural Commercial Bank Co., Ltd. 18.4B 74 61 81
Hold
73
73 2 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 77 71 64
Hold
76
76 3 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 77 70 53
Hold
72
72 4 1
China Merchants Bank Co., Ltd. 1.1T 77 63 68
Hold
73
73 5 1
Industrial Bank Co., Ltd. 402.2B 85 67 66
Buy
80
80 6 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 72 61 68
Hold
68
68 7 1
China Everbright Bank Company Limited 160.4B 76 63 56
Hold
70
70 8 1
China Minsheng Banking Corp., Ltd. 150.8B 81 62 79
Hold
78
78 9 1
Bank of Nanjing Co., Ltd. 111.2B 82 66 54
Hold
74
74 10 1
Bank of Jiangsu Co., Ltd. 100.3B 83 71 84
Buy
86
86 11 1
Bank of Beijing Co., Ltd. 95.8B 84 59 75
Hold
77
77 12 1
Bank of Shanghai Co., Ltd. 92.8B 90 64 81
Buy
85
85 13 1
Bank of Hangzhou Co., Ltd. 85.0B 81 70 69
Buy
80
80 14 1
Hua Xia Bank Co., Limited 79.1B 81 63 75
Hold
77
77 15 1
Bank of Chengdu Co., Ltd. 61.3B 86 68 58
Buy
79
79 16 1
Bank of Changsha Co., Ltd. 31.4B 79 62 60
Hold
72
72 17 1
QILU BANK CO., LTD. 22.4B 93 69 80
Strong Buy
91
91 18 1
Bank of Guiyang Co.,Ltd. 21.2B 80 62 75
Hold
77
77 19 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 82 71 80
Buy
84
84 20 1
Bank of Xi'an Co.,Ltd. 16.2B 80 56 51
Hold
70
70 21 1
Xiamen Bank Co., Ltd. 15.6B 83 62 82
Buy
80
80 22 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 12.2B 83 70 69
Buy
81
81 23 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 77 60 53
Hold
70
70 24 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 73 64 79
Hold
73
73 25 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 74 73 70
Hold
76
76 26 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Ping An's stock is now priced above its 5-day, but below its 50-day and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a positive setup in the near-term. The company is trading near it's 12-month low, which signals it struggle to keep above it support price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Ping An's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 42.

Bearish 42
Close Price 14.63
52W Low 13.68
52W High 23.36
5D MA 14.33
50D MA 14.72
200D MA 16.66
MACD -0.05
RSI 1.05
STOCH 86.75

Balance Sheet Analysis

Overall, Ping An's critical balance sheet metrics appear to signal strong support and a high likelihood of positive growth going forward. Ping An did a great job related to cash and cash equivalents this period, which stood at 304962.0, representing a 39.1% change from the previous filing. This performance is significantly more impressive than its peers and competitors. It suggests that their stock price has room to grow to reflect its actual intrinsic value. Therefore, its cash and cash equivalents movement earned a score of 88. Also, Ping An has done an excellent job managing its liabilities. Ping An's liabilities stood at 4711774.0 in the current filing, which represents a 4.1% change from the previous report. These numbers show that management has successfully encouraged growth while managing liabilities, especially relative to their peers. Therefore, we rated their liabilities movement with a score of 79. However, one concerning metric, Equity, stood out. Ping An management produced disappointing equity metrics this period, which stood at 386222.0, representing a 2.9% change. This parameter often affects companies in the same industry and market capitalization by up to 7.1%. Their equity metrics appear unremarkable relative to their peers. Therefore, their equity movement component earned a score of 69. Therefore, their balance sheet earned a grade of 83.

Parameter Value Change Score
Assets 5,117,949.0 4.0% 78
Liabilities 4,711,774.0 4.1% 79
Price to Book 0.8 -9.6% 79
Cash & Equivalents 304,962.0 39.1% 88
Equity 386,222.0 2.9% 69
* All values are TTM

The below chart describes Ping An's performance as reflected on its balance sheet with respect to its peers. While Ping An received a balance sheet score of 83, the average of its peers stands on 77.0.

  •  000001
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
Bank of Ningbo Co., Ltd. 225.7B 86 51 68 97 84 89 0 1
Bank of Suzhou Co., Ltd. 22.1B 91 82 54 97 89 92 1 1
Qingdao Rural Commercial Bank Co., Ltd. 18.4B 66 68 55 72 77 74 2 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 84 53 55 65 79 77 3 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 76 66 69 76 74 77 4 1
China Merchants Bank Co., Ltd. 1.1T 72 81 68 37 84 77 5 1
Industrial Bank Co., Ltd. 402.2B 74 80 68 90 82 85 6 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 74 70 55 51 76 72 7 1
China Everbright Bank Company Limited 160.4B 89 44 69 54 76 76 8 1
China Minsheng Banking Corp., Ltd. 150.8B 80 45 69 90 77 81 9 1
Bank of Nanjing Co., Ltd. 111.2B 81 51 51 89 82 82 10 1
Bank of Jiangsu Co., Ltd. 100.3B 87 85 55 92 78 83 11 1
Bank of Beijing Co., Ltd. 95.8B 64 63 68 67 90 84 12 1
Bank of Shanghai Co., Ltd. 92.8B 83 62 54 90 90 90 13 1
Bank of Hangzhou Co., Ltd. 85.0B 82 63 54 87 79 81 14 1
Hua Xia Bank Co., Limited 79.1B 79 49 69 89 76 81 15 1
Bank of Chengdu Co., Ltd. 61.3B 83 76 68 82 83 86 16 1
Bank of Changsha Co., Ltd. 31.4B 74 63 69 72 79 79 17 1
QILU BANK CO., LTD. 22.4B 80 59 95 77 89 93 18 1
Bank of Guiyang Co.,Ltd. 21.2B 74 61 69 77 80 80 19 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 85 81 69 60 81 82 20 1
Bank of Xi'an Co.,Ltd. 16.2B 81 55 67 97 75 80 21 1
Xiamen Bank Co., Ltd. 15.6B 86 66 69 84 78 83 22 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 12.2B 83 72 69 81 79 83 23 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 41 80 56 95 80 77 24 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 66 72 55 62 78 73 25 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 78 77 55 60 75 74 26 1

Income Statement Analysis

Ping An appears likely to maintain its strong income statement metrics, especially Return Factors. In this filing, Ping An reported a return on equity (ROE) ratio of 10.0, which represents a change of 4.8%. These numbers show that management has successfully encouraged growth while managing ROE and ROA metrics, especially relative to their peers. The company's return factors (ROA & ROE) components, therefore, received a grade of 81. That said, one metric, Revenue Efficiency, stood out as strongly negative. Ping An management did an underwhelming job managing revenue efficiency this past period. Ping An's revenue efficiency is 100549.0 according to the metrics in the current filing, which represents a 3.9% change from the previous report. This metric might have a 2.3 percent impact on companies in the same industry and with the same market capitalization. Its uninspiring revenue efficiency is even more concerning relative to its peers and competitors in the current market. Consequently, their revenue efficiency received a grade of 53. their income statement received an overall score of 72.

Parameter Value Change Score
Total Revenues 100,549.0 3.9% 53
Return on Equity 10.0 4.8% 81
* All values are TTM

The below chart describes Ping An's performance as reflected on its income statement with respect to its peers. While Ping An received a income statement score of 72 , the average of its peers stands on 68.0.

  •  000001
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
Bank of Ningbo Co., Ltd. 225.7B 55 68 76 70 0 1
Bank of Suzhou Co., Ltd. 22.1B 53 66 58 60 1 1
Qingdao Rural Commercial Bank Co., Ltd. 18.4B 62 67 57 61 2 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 64 67 79 71 3 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 51 68 77 70 4 1
China Merchants Bank Co., Ltd. 1.1T 58 68 61 63 5 1
Industrial Bank Co., Ltd. 402.2B 48 67 73 67 6 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 80 67 54 61 7 1
China Everbright Bank Company Limited 160.4B 69 67 61 63 8 1
China Minsheng Banking Corp., Ltd. 150.8B 85 67 55 62 9 1
Bank of Nanjing Co., Ltd. 111.2B 48 65 74 66 10 1
Bank of Jiangsu Co., Ltd. 100.3B 48 69 80 71 11 1
Bank of Beijing Co., Ltd. 95.8B 63 68 50 59 12 1
Bank of Shanghai Co., Ltd. 92.8B 66 67 61 64 13 1
Bank of Hangzhou Co., Ltd. 85.0B 48 66 82 70 14 1
Hua Xia Bank Co., Limited 79.1B 61 67 61 63 15 1
Bank of Chengdu Co., Ltd. 61.3B 44 68 75 68 16 1
Bank of Changsha Co., Ltd. 31.4B 57 68 58 62 17 1
QILU BANK CO., LTD. 22.4B 50 68 76 69 18 1
Bank of Guiyang Co.,Ltd. 21.2B 69 67 58 62 19 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 52 71 77 71 20 1
Bank of Xi'an Co.,Ltd. 16.2B 47 64 58 56 21 1
Xiamen Bank Co., Ltd. 15.6B 48 68 59 62 22 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 12.2B 66 68 76 70 23 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 81 71 55 60 24 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 54 69 61 64 25 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 84 69 77 73 26 1

Cash Flow Analysis

Capex and Net Cash Flow stand out as the most significant drivers of Ping An's cash flow's strength. Ping An's management did a great job this period managing its capital expenditure (CapEx). In terms of the raw numbers, CapEx was reported as -2645.0, which represents a 56.3% change from the last period. This performance is all the more impressive relative to their peers and competitors. The company's CapEx movement, therefore, received a grade of 96. Also, Ping An's strong net cash flow numbers, which were 21571.0 in this filing, showed a 140.1% change from the last period. Their net cash flow metrics are especially remarkable relative to their peers. Hence, its net cash flow earned a score of 91. That said, one metric, Free Cash flow, stood out as strongly negative. Free cash flow numbers published by Ping An were -2.0, which was a 81.1% change from the previous filing. Companies in the same sector and market capitalization will usually be affected by up to 9.3 percent by this parameter. These free cash flow numbers show that management has not been executing well in generating critical cash flow while also encouraging growth. Disappointing results in free cash flow often lead to negative pressure in stock prices, so we rated their free cash flow with a score of 42. Because their management is doing an excellent job managing these critical metrics, the cash_flow was given a score of 85.

Parameter Value Change Score
Net Cashflow 21,571.0 140.1% 91
Capital Expenditure -2,645.0 56.3% 96
Free Cashflow -2.0 81.1% 42
* All values are TTM

The below chart describes Ping An's performance as reflected on its cash flow with respect to its peers. While Ping An received a cash flow score of 85, the average of its peers stands on 67.0.

  •  000001
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
Bank of Ningbo Co., Ltd. 225.7B 93 38 59 69 71 0 1
Bank of Suzhou Co., Ltd. 22.1B 61 78 49 69 61 1 1
Qingdao Rural Commercial Bank Co., Ltd. 18.4B 86 49 84 69 81 2 1
Jiangsu Zhangjiagang Rural Commercial Bank Co., Ltd 11.1B 39 98 84 69 64 3 1
Jiangsu Jiangyin Rural Commercial Bank Co.,LTD. 9.3B 42 94 51 69 53 4 1
China Merchants Bank Co., Ltd. 1.1T 90 45 44 69 68 5 1
Industrial Bank Co., Ltd. 402.2B 81 56 47 69 66 6 1
Shanghai Pudong Development Bank Co., Ltd. 233.9B 48 87 85 69 68 7 1
China Everbright Bank Company Limited 160.4B 43 95 54 69 56 8 1
China Minsheng Banking Corp., Ltd. 150.8B 84 45 91 69 79 9 1
Bank of Nanjing Co., Ltd. 111.2B 49 84 48 69 54 10 1
Bank of Jiangsu Co., Ltd. 100.3B 93 41 90 69 84 11 1
Bank of Beijing Co., Ltd. 95.8B 67 67 92 69 75 12 1
Bank of Shanghai Co., Ltd. 92.8B 95 38 80 69 81 13 1
Bank of Hangzhou Co., Ltd. 85.0B 49 87 90 69 69 14 1
Hua Xia Bank Co., Limited 79.1B 80 57 69 69 75 15 1
Bank of Chengdu Co., Ltd. 61.3B 66 67 45 69 58 16 1
Bank of Changsha Co., Ltd. 31.4B 59 81 45 69 60 17 1
QILU BANK CO., LTD. 22.4B 81 54 90 69 80 18 1
Bank of Guiyang Co.,Ltd. 21.2B 67 67 90 69 75 19 1
Jiangsu Changshu Rural Commercial Bank Co., Ltd. 20.6B 71 73 81 69 80 20 1
Bank of Xi'an Co.,Ltd. 16.2B 43 90 62 67 51 21 1
Xiamen Bank Co., Ltd. 15.6B 93 40 85 69 82 22 1
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co.,Ltd 12.2B 96 37 44 69 69 23 1
Jiangsu Zijin Rural Commercial Bank Co.,Ltd 10.5B 46 99 50 67 53 24 1
Wuxi Rural Commercial Bank Co.,Ltd 10.3B 82 52 84 69 79 25 1
Jiangsu Suzhou Rural Commercial Bank Co., Ltd 9.0B 85 50 56 69 70 26 1

This report is intended for general guidance and information purposes only and under no circumstances is tailored to a specific factor or variable related to its reader or intended to be used or considered as financial or investment advice, a solicitation of any offer, a recommendation, or an offer to sell or buy any securities or other form of a financial asset. For the full disclaimer, click here.