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<Research>HSBC Research Raises BOC HONG KONG (02388.HK) TP to HKD51.2, Maintains Buy
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HSBC Research issued a report stating that BOC HONG KONG (02388.HK) delivered mixed but overall positive results for 1Q26, with net profit increasing 7% YoY, mainly driven by a substantial decline in impairment provisions and asset quality that was clearly better than expected. During the period, the non-performing loan ratio fell 18 bps QoQ to 0.96%, while annualized credit cost declined to 0.18%, well below 0.30% in 1Q25 and 0.48% for the full year. HSBC Research noted that BOC HONG KONG's outlook will be highly dependent on its shareholder return plan, which is expected to be launched alongside its interim results in August. The bank's Common Equity Tier 1 ratio stood at as high as 24% at the end of last year. HSBC Research maintained its Buy rating on BOC HONG KONG and raised the TP from HKD51 to HKD51.2. (ec/u) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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