BNP downgrades CITIC Ka Wah Bank profit this year by 3%

As the loans in the first five months saw nil exchange, BNP downgraded the profit forecasts of CITIC Ka Wah Bank (0183) in 2001 and 2002 by 3% and 6% with per share profit of HK$0.25 and HK$0.29.

BNP pointed out that the market share of CITIC Ka Wah Bank was higher than its companions, indicating that the company intended to make acquisition and thus became the leader of the market. Accordingly, BNP gave the company the rating of ˇ§in line with the marketˇ¨.

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