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MarketScreener Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  China Banking Corporation    CHIB   PHY138161229

CHINA BANKING CORPORATION

(CHIB)
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China allows insurers to use credit derivatives

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05/19/2019 | 06:49am EDT

This undated photo shows a China Life Insurance billboard in Nanjing, Jiangsu province. (AN XIN / CHINA DAILY)

BEIJING — Chinese regulators have allowed insurance companies to use credit derivatives to hedge against risks as part of efforts to encourage insurance funds to serve the real economy.

Through the move, regulators hope to enable insurance funds to offer more financing support to private businesses

The purpose of using credit risk mitigation and credit protection tools should be confined to risk hedging, and insurance institutions should not be credit risk bearers, according to a notice issued by the China Banking and Insurance Regulatory Commission (CBIRC).

Under the notice, insurance companies participating in the business are required to be capable of using the derivatives to manage risks and to comply with related trading regulations.

Insurance firms should monitor and assess risks at regular intervals and file monthly, quarterly and annual reports to the CBIRC.

Through the move, regulators hope to enable insurance funds to offer more financing support to private businesses.

(c) 2019 China Daily Information Company. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (PHP)
Sales 2018 -
EBIT 2018 -
Net income 2018 -
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019 7,56x
Capi. / Sales2018 -
Capi. / Sales2019 2,06x
Capitalization 67 013 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Average target price 30,00  PHP
Last Close Price 24,95  PHP
Spread / Highest target 20,2%
Spread / Average Target 20,2%
Spread / Lowest Target 20,2%
EPS Revisions
Managers
NameTitle
William C. Whang President, Chief Operating Officer & Director
Hans T. Sy Chairman
Romeo D. Uyan Co-Chief Operating Officer & Executive VP
Patrick D. Cheng Chief Finance Officer & Group Head-Finance
Peter S. Dee Executive Director