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BOC HONG KONG Expects Continued Upside Pressure on Real Estate NPL Ratio
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Xu Haifeng, Deputy Chief Executive of BOC HONG KONG (02388.HK), said at the annual results conference that the steady improvement of Hong Kong's economy offset part of the increase in net provisions, though the local office and retail shop sectors are still facing high vacancy rates. BOC HONG KONG will continue to monitor market and customer dynamics, strengthen credit management mechanisms and measures, and strictly control high-risk portfolios, Xu added. The bank also adopts a pressured approach to increase provisions for individual high-risk real estate clients. While upside pressure is expected to continue to mount on the non-performing loan (NPL) ratio, Xu stressed that BOC HONG KONG will adhere to a prudent strategy to maintain an NPL ratio better than the market level. Currently, the bank's overall asset quality remains stable with adequate provisions. AAStocks Financial News |
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