The independent financial analyst theScreener just slightly lowered the general evaluation of BOC HONG KONG HOLDINGS (HK), active in the Money Center Banks industry. The title has lost a star(s) at the fundamental level and now shows 2 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date Marc...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
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...
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 wrapped up earnings for the Hong Kong banks with a result in line with our expectation. For the full year, net profit attributable to equityholders was up 12% to HKD 32 billion, largely in line with our forecast. Trends in the second half were consistent with the rest of its peers, with the clear positive the stronger net interest margin, or NIM. Our fair value is maintained at HKD 39.20, representing a fair price/book ratio of 1.7 times. We forecast return on equity averaging 13%...
BOC Hong Kong wrapped up earnings for the Hong Kong banks with a result in line with our expectation. For the full year, net profit attributable to equityholders was up 12% to HKD 32 billion, largely in line with our forecast. Trends in the second half were consistent with the rest of its peers, with the clear positive the stronger net interest margin, or NIM. Our fair value is maintained at HKD 39.20, representing a fair price/book ratio of 1.7 times. We forecast return on equity averaging 13%...
BOC Hong Kong wrapped up earnings for the Hong Kong banks with a result in line with our expectation. For the full year, net profit attributable to equityholders was up 12% to HKD 32 billion, largely in line with our forecast. Trends in the second half were consistent with the rest of its peers, with the clear positive the stronger net interest margin, or NIM. Our fair value is maintained at HKD 39.20, representing a fair price/book ratio of 1.7 times. We forecast return on equity averaging 13...
The Hong Kong Monetary Authority, or HKMA, awarded three virtual banking licences to a number of joint venture companies with businesses expected to launch within six to nine months. The three licence winners are Livi VB, consisting of narrow-moat-rated BOC Hong Kong, JD.com and Jardine Matheson; SC Digital Solution, a joint venture between Standard Chartered, HKT, PCCW and Ctrip; and Zhong An Virtual Finance, a partnership between ZhongAn Online and Sinolink. Another five virtual bank applicati...
The Hong Kong Monetary Authority, or HKMA, awarded three virtual banking licences to a number of joint venture companies with businesses expected to launch within six to nine months. The three licence winners are Livi VB, consisting of narrow-moat-rated BOC Hong Kong, JD.com and Jardine Matheson; SC Digital Solution, a joint venture between Standard Chartered, HKT, PCCW and Ctrip; and Zhong An Virtual Finance, a partnership between ZhongAn Online and Sinolink. Another five virtual bank applicati...
With the U.S. Federal Open Market Committee unanimously voting to maintain its target rate range at 2.25%-2.5% in its first official meeting of 2019, our U.S. team has assumed no interest rate hikes in 2019 and a single rate hike in mid-2020. The more dovish tone adopted by the Fed will see a slower increase in net interest margin for Hong Kong- and Singapore-based banks under our coverage. We continue to expect net interest margin to increase in 2019, albeit at a more tepid pace as loans are pr...
With the U.S. Federal Open Market Committee unanimously voting to maintain its target rate range at 2.25%-2.5% in its first official meeting of 2019, our U.S. team has assumed no interest rate hikes in 2019 and a single rate hike in mid-2020. The more dovish tone adopted by the Fed will see a slower increase in net interest margin for Hong Kong- and Singapore-based banks under our coverage. We continue to expect net interest margin to increase in 2019, albeit at a more tepid pace as loans are pr...
KEY HIGHLIGHTS CHINA Sector Gold Back in fashion; initiate coverage with OVERWEIGHT and BUY on Shandong Gold. IT Hardware Handset components: Diversifying from smartphones and China. TRADERS’ CORNER Evergrande Health (708 HK): Trading Buy Range BOC Hong Kong (2388 HK): Trading Sell Range
A director at Boc Hong Kong(Hldgs) maiden bought 40,000 shares at 3.835USD and the significance rating of the trade was 64/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ...
Bank of China Hong Kong provided a mixed third-quarter update, and our fair value estimate is unchanged at HKD 39.20. The bank is attractively priced after a sharp decline in its share price after results were released. Our fair value represents a price/book of 1.7 times, supported by forecast return on equity of 14% over the next five years. A discount to fair value of 25% is a large enough margin of safety, in our view. From a quality perspective, the narrow-moat-rated bank benefits from cost ...
Given its solid fundamentals and close connection with parent Bank of China, we see Bank of China Hong Kong, or BOCHK, as a key beneficiary of rising regional economic integration. BOCHK carved out a narrow economic moat because of cost advantage and switching costs in Hong Kong. As the second-largest bank in Hong Kong, it established a strong brand for its retail business with high-quality corporate clients.Due to its cross-border banking expertise and connections with its parent bank, the bank...
Higher net interest margin, strong loan growth and lower than expected provisioning underpinned Bank of China Hong Kong, or BOCHK's solid first-half result. We maintain our view the narrow-moat-rated BOCHK will remain dominant in its core market in Hong Kong, with its recently acquired southeast Asia operation delivering higher-than-peer growth for the bank. This provides a point differentiation for BOCHK against local peers as it is able to better serve Chinese corporate expansion in the region...
Bank of China Hong Kong provided a mixed third-quarter update, and our fair value estimate is unchanged at HKD 39.20. The bank is attractively priced after a sharp decline in its share price after results were released. Our fair value represents a price/book of 1.7 times, supported by forecast return on equity of 14% over the next five years. A discount to fair value of 25% is a large enough margin of safety, in our view. From a quality perspective, the narrow-moat-rated bank benefits from cost ...
Higher net interest margin, strong loan growth and lower than expected provisioning underpinned Bank of China Hong Kong, or BOCHK's solid first-half result. We maintain our view the narrow-moat-rated BOCHK will remain dominant in its core market in Hong Kong, with its recently acquired southeast Asia operation delivering higher-than-peer growth for the bank. This provides a point differentiation for BOCHK against local peers as it is able to better serve Chinese corporate expansion in the region...
Higher net interest margin, strong loan growth and lower than expected provisioning underpinned Bank of China Hong Kong, or BOCHK's solid first-half result. We maintain our view the narrow-moat-rated BOCHK will remain dominant in its core market in Hong Kong, with its recently acquired southeast Asia operation delivering higher-than-peer growth for the bank. This provides a point differentiation for BOCHK against local peers as it is able to better serve Chinese corporate expansion in the region...
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