Goldman Sachs maintained a Neutral rating on ICBC and ABC due to uncertainties regarding the size, timing, and valuation of the reported capital injection, as well as the resulting impact on earnings per share (EPS) and book value per share (BVPS). They assessed that if the capital injection is true, it could lead to a potential dilution of EPS by 4-7% and a maximum 2% dilution in BVPS, while the CET1 ratio could increase by 54/61 basis points. This cautious stance reflects the potential risks associated with the capital injection and its effects on the banks' financial metrics.
