BOC Hong Kong’s High-Level 1Q Update a Positive
Narrow-moat BOC Hong Kong, or BOCHK’s, high-level first-quarter update was positive, recovering from a weaker second half. The recovery was expected as trade uncertainty eased and an improvement in capital markets will benefit wealth management and brokerage income, underpinning net fee and commission income growth for BOCHK. Net trading income was also higher while credit quality remains strong, given the still resilient economic conditions. BOCHK noted impaired loans was 0.18% of total loans, ...BOC Hong Kong is an investment holding company, engaged in the provision of banking and related financial services in Hong Kong. Co.'s segments include: Personal Banking, Corporate Banking, Treasury, and Insurance. Both the Personal Banking and Corporate Banking segments provide general banking services. The Treasury segment manages funding and liquidity, and the interest rate and foreign exchange positions of Co. in addition to proprietary trades. The Insurance segment represents business mainly relating to life insurance products, including individual life insurance and group life insurance products. As of Dec 31 2014, Co. had total assets of HK$2,189,367,000,000.
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