Bank of East Asia Seeks Growth as the Worst of its Impaired Loans in China Are Behind it
Bank of East Asia reported a positive first-half result with stronger performance in Hong Kong offsetting a continued challenging operating environment in China. We revise our fair value to HKD 28.60 from HKD 24 as we lower our long-term capital structure assumption as the decline in risk weights resulted in an improvement in the bank's capital ratio. Our new capital structure assumption translates into common equity Tier 1 ratio closer to the high end of management's comfort level range of 14% ...Bank of East Asia is engaged in the provision of banking and related financial services, and business, corporate and investor services. Co. organizes its businesses into nine business segments: Personal banking, Corporate banking, Treasury markets, Wealth management, Financial institutions, Other Hong Kong banking operations, China operations, Overseas operations, and Corporate services. Co.'s other businesses include property-related business, supporting units of Hong Kong operations, investment properties, bank premises. As of Dec 31 2014, Co. had total assets of HK$795,891,000,000.
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