Bank of East Asia's 2H Result Weaker as Expected; Refocused Strategy in China Shows Positive Signs
As expected, no-moat Bank of East Asia’s second-half result was weaker than the first half. Net interest income was stronger as its loan book is progressively repriced off higher interbank rates in the second half in Hong Kong, although this is offset by slightly below net fee and commission income and net trading income. The weaker net fee and commission income and net trading income against the first half was largely in line with regional and global peers. Credit cost also climbed in the secon...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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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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