BOC, ICBC, ABC, CCB and Citic Bank report double digit earnings growth for first three quarters of FY2021

November 2, 2021 Touzibozhu

Agricultural Bank of China Bank of China China Banks China Citic Bank China Construction Bank China H-Shares China Stocks Earnings Report Industrial and Commercial Bank of China

I have previously published estimates of the intrinsic values of the H-shares of Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank and China Citic Bank. In their latest quarterly financial reports, all five banks reported double digit earnings growth for the first 3 quarters of FY 2021:

Bank of China reported earnings growth of 12.2% for nine months ended 30th September 2021.
Industrial and Commercial Bank of China reported earnings growth of 10.1% for nine months ended 30th September 2021
Agricultural Bank of China reported earnings growth of 12.93% for nine months ended 30th September 2021.
China Construction Bank reported earnings growth of 12.8% for the nine months ended 30th September 2021.
China Citic Bank reported earnings growth of 13.1% for the nine months ended 30th September 2021.

The encouraging reports indicate that these five banks are on their way to achieving very healthy earnings growth for FY2021. Investors can definitely look forward to increased dividends in the coming year.