【招银国际】Solid 1H24 against industry headwinds.pdf

–1H23E Preview： strong growth despite industry headwinds; expect back-loaded in 2H23E

Macro headwinds weighed on growth; loss reduction on track

Short-term headwind continues

Resilient FY22／1H23 despite industry headwinds

–Short-term headwind, but bottoming out is in sight

–Headwinds endure

Factoring in ads & games headwinds

Weather short-term headwinds in 2Q24; eyes on 2H24E recovery

Short -term headwind doesn’t change the long-term story

Bracing for Headwinds – How APAC Challenger Banks Can Navigate Disruption in 2023