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Citi, UBS, Daiwa have all come to the defense of Chinese banks after Goldman was critical

Bloomberg (gated) have the report on Citigroup, UBS and Daiwa arguing that Chinese lenders will withstand the strains of bad local government debt and less fee income without cutting dividends. Making the point that Beijing needs payouts from state-owned banks to fund spending, and balance sheets are robust.The three responded in a rebuttal to Goldman analysts who have cut ratings and target prices.Daiwa, for example:“The Ministry of Finance has the incentive to keep dividend payout ratios stabl... Read More

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Citi

Ubs

Daiwa

Have

Come

Defense

Chinese

Banks

After

Goldman

Critical

Forex

Posted: Jul 20 2023, 00:26

Author Name: forexlive

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