Management Provides Generally Positive Outlook; Long-Term View and FVE of HKD 24 Unchanged
There is no change to our near- and long-term view on no-moat-rated Bank of East Asia after a pre-close meeting with management last Friday. As expected, the outlook for the first half was generally positive but management cited risks from rising political tension and trade issues. The generally positive outlook is largely in line with regional peer’s first quarter result as net interest margin benefited from rising interest rate cycle, higher fees and improving economic conditions resulting in ...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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