Goldman Sachs response: Unreal! Market | Bank | Goldman Sachs
Recently, there has been news circulating in the market that Goldman Sachs has downgraded the rating of domestic Chinese bank stocks. Goldman Sachs officials told China News Service that the research report released on the 4th is not a "bearish" bank stock as rumored in the market.
The Goldman Sachs insiders mentioned above pointed out that in the research report, 12 banks were rated, of which 5 were rated as "sell", 4 were rated as "buy", and 3 were rated as neutral. There were a total of 7 banks rated as "buy" and "neutral", which is not the "short" banking stocks as rumored in the market.
Goldman Sachs stated that although the increase in the scale of local debt will put some pressure on bank interest rate differential income, the tax and capital savings in the bond portion of local debt can effectively help banks reduce the impact of declining interest income. Therefore, the proportion of bonds in local debt is also an important influencing factor for the differentiation of bank profit growth.