Morgan Stanley-China Financials Why slower loan growth and notably slower ...-107586598
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- March TSF growth further slowed to 8.7% yoy, as expected,
- NIMs. We expect TSF growth will slow towards 8% in 2024.
- Headline TSF growth further moderated to 8.7%, in line with our expectations. New
- 13% yoy, dragged by Rmb470bn lower mid- to long-term corporate loans yoy, itself
- Exhibit 1: YoY growth in TSF (excluding equity financing) further declined to 8.8% in
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