Goldman Sachs released a research report stating that CCB's (00939) pre-provision profit in the last quarter was 6% lower than forecasts, primarily due to weaker-than-expected net interest margins and an increased cost-to-income ratio. The common equity Tier 1 (CET1) ratio stood at 14.4%, up 26 basis points year-on-year but 32 basis points below expectations.

The bank anticipates that investors will focus on CCB's net interest margin trend, non-interest income outlook, asset quality trends following significant provision releases due to lower non-performing loan formation rates, and cost control guidance. Goldman Sachs maintains a "Buy" rating on CCB with a target price of HK$8.55.