Bank of China 3988

Re: Bank of China 3988

Postby winston » Wed Aug 29, 2018 8:31 am

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Bank of China Limited interim profit rises to 109b yuan

Bank of China Limited (3988) reported today half-year net profit increased by 5.21 percent year-on-year to 109.088 billion yaun.

The return on average total assets was at 1.16%, and return on average equity was 15.29 percent for the six months ended June 30.

Group’s assets amounted to 20.29 trillion yuan, while liabilities stood at 18.68 trillion, this represened growth of 4.25 percent and 4.44 percent, respectively.

Group profit grew by 4.55 percent to 115.57 billion yuan, the bank reported.

Non-performing loans stood at 163.304 billion yuan and the NPL ratio "remained at the reasonable level of 1.43 percent,'' the bank said. The allowance for loan impairment losses to non-performing loans was 164.79 percent.

Net interest income increased by 7.06 percent, or 11.65 billion yuan, in the first half to 176.701 billion yuan.

Net interest margin was 1.88 percent, up by 4 basis points compared with the same period of the prior year.

Non interest income fell by 10.25 percent on year, or by 8.54 billion yuan to 74.78 billion yaun, the bank reported. Non interest income represented 29.74 percent of operating income.

Net fee and commission income also fell by 2.03 percent, 999 million yuan to 48.18 billion yuan.

Net fee and commission income represented 19.16 percent of operating income.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... r=20180828
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Re: Bank of China 3988

Postby winston » Wed Aug 29, 2018 8:31 am

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Bank of China Limited interim profit rises to 109b yuan

Bank of China Limited (3988) reported today half-year net profit increased by 5.21 percent year-on-year to 109.088 billion yaun.

The return on average total assets was at 1.16%, and return on average equity was 15.29 percent for the six months ended June 30.

Group’s assets amounted to 20.29 trillion yuan, while liabilities stood at 18.68 trillion, this represened growth of 4.25 percent and 4.44 percent, respectively.

Group profit grew by 4.55 percent to 115.57 billion yuan, the bank reported.

Non-performing loans stood at 163.304 billion yuan and the NPL ratio "remained at the reasonable level of 1.43 percent,'' the bank said. The allowance for loan impairment losses to non-performing loans was 164.79 percent.

Net interest income increased by 7.06 percent, or 11.65 billion yuan, in the first half to 176.701 billion yuan.

Net interest margin was 1.88 percent, up by 4 basis points compared with the same period of the prior year.

Non interest income fell by 10.25 percent on year, or by 8.54 billion yuan to 74.78 billion yaun, the bank reported. Non interest income represented 29.74 percent of operating income.

Net fee and commission income also fell by 2.03 percent, 999 million yuan to 48.18 billion yuan.

Net fee and commission income represented 19.16 percent of operating income.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... r=20180828
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Re: Bank of China 3988

Postby winston » Wed Aug 29, 2018 11:13 am

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<Post-Result>Brokers' Latest Ratings, TPs on BANK OF CHINA (03988.HK) (Table)

Brokers / Ratings / Target prices (HK$)

Morgan Stanley Overweight 5.6
JP Morgan Overweight 5
Citigroup Buy 4.85
Credit Suisse Outperform 4.7
HSBC Global Research Buy 4.7
Bank of America Merrill Lynch Buy 4.03

Source: AAStocks Financial News
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Re: Bank of China 3988

Postby winston » Wed Aug 29, 2018 1:17 pm

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<Research Report>JPM: BOC Rated Overweight on NIM Expansion Ahead of Big Bank Peers

BANK OF CHINA (03988.HK)'s 1H net profit and pre-provisional profit were 2% above JP Morgan's estimates.

The 2Q NIM widened by 6 bps QoQ, outstripping large-cap peers.

Overseas business is main source of BOC's profit growth, JP Morgan said in its report, adding the asset quality remains stable while the increased new overdue loans become new concern.

The rating was Overweight with target price of $5.

Source: AAStocks Financial News
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Re: Bank of China 3988

Postby winston » Wed Aug 29, 2018 1:17 pm

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<Research Report>JPM: BOC Rated Overweight on NIM Expansion Ahead of Big Bank Peers

BANK OF CHINA (03988.HK)'s 1H net profit and pre-provisional profit were 2% above JP Morgan's estimates.

The 2Q NIM widened by 6 bps QoQ, outstripping large-cap peers.

Overseas business is main source of BOC's profit growth, JP Morgan said in its report, adding the asset quality remains stable while the increased new overdue loans become new concern.

The rating was Overweight with target price of $5.

Source: AAStocks Financial News
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Re: Bank of China 3988

Postby winston » Wed Aug 29, 2018 1:32 pm

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<Research Report>BofAML: BOC Rated Buy on Enticing Valuation

BANK OF CHINA (03988.HK)'s 1H results conformed with expectation, Bank of America Merrill Lynch said in its report.

The net profit added 5.3% YoY to RMB107.5 billion, 1% ahead of the research house's estimates.

The research house said the share price of BOC has underperformed large-cap likes last year and YTD, and hence upgraded the rating to Buy earlier.

The rating was maintained this time with target price of $4.03 given enticing valuation.

Source: AAStocks Financial News
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Re: Bank of China 3988

Postby winston » Wed Aug 29, 2018 1:32 pm

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<Research Report>BofAML: BOC Rated Buy on Enticing Valuation

BANK OF CHINA (03988.HK)'s 1H results conformed with expectation, Bank of America Merrill Lynch said in its report.

The net profit added 5.3% YoY to RMB107.5 billion, 1% ahead of the research house's estimates.

The research house said the share price of BOC has underperformed large-cap likes last year and YTD, and hence upgraded the rating to Buy earlier.

The rating was maintained this time with target price of $4.03 given enticing valuation.

Source: AAStocks Financial News
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Re: Bank of China 3988

Postby winston » Wed Aug 29, 2018 1:35 pm

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<Research Report>M Stanley: BOC NIM Tops Peers, Overdue Loan Needs Attention

BANK OF CHINA (03988.HK)'s 2Q NPAT hiked 5.3% YoY to RMB60.1 billion, on the ride of NII increment and positive transaction gain, which were yet partly off-set by weak handling fee and high provision, Morgan Stanley said in its report.

The research house added that the 2Q NII yield rebound topped peers by widening 5 bps QoQ to 1.88%.

Morgan Stanley drew investors' attention to the sharp increase in loan overdue 90 days despite stable NPL ratio.

The rating was kept Overweight with target price of HK$5.6.

Source: AAStocks Financial News
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Re: Bank of China 3988

Postby winston » Tue Oct 30, 2018 8:25 am

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BANK OF CHINA (03988.HK) 1-3Q Net Profit RMB153.27B, Up 5.3%

BANK OF CHINA (03988.HK) announced first three quarter results ended September 2018.

The turnover rose 3.2% year on year to RMB375.859 billion.

The net profit amounted to RMB153.274 billion, up 5.3% yearly.

EPS equaled RMB0.5.

Return on average equity was 13.7%, up 0.02 ppts yearly.

Source: AAstocks.com
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Re: Bank of China 3988

Postby winston » Tue Jan 29, 2019 10:50 am

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<Research Report>Daiwa Upgrades BANK OF CHINA (03988.HK) to Outperform with Target Cut to $3.9

Daiwa previewed in its report that BANK OF CHINA (03988.HK) will enjoy an NIM rise of 6 bps yearly this year, better than its peers, from its oversea businesses.

BANK OF CHINA was upgraded to Outperform from Underperform, given its undemanding valuation, at the target price $3.9, cut from $3.95.

Source: AAStocks Financial News
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