BOCHK's 3Q16 Update Slightly Weaker; Negotiations for Chiyu Bank Divestment Ongoing
Bank of China Hong Kong, BOCHK, provided a brief but weaker third-quarter update. Net operating income for the third quarter declined 6.9% on the last quarter and combined with a 3.3% increase in operating expense, operating profit fell a further 10.5%. Net interest margin, or NIM, declined quarter on quarter as the declining deposit cost was not enough to offset a higher proportion of lower yielding short-term debt instruments on the asset side. Similarly for net fee income, higher brokerage co...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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