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<Research>HSBC Research: BOCHK's 1Q Results Reaffirm Stability
HSBC Global Research issued a report, saying that BOC HONG KONG (02388.HK) reaffirmed its stability through 1Q24 results amid a sharp downfall in HIBOR in 1Q24. The NIM fell a bit ...
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<Research>HSBC Research: BOCHK's 1Q Results Reaffirm Stability
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HSBC Global Research issued a report, saying that BOC HONG KONG (02388.HK)  0.000 (0.000%)    Short selling $13.81M; Ratio 7.195%   reaffirmed its stability through 1Q24 results amid a sharp downfall in HIBOR in 1Q24. The NIM fell a bit less than the broker's expectations during the quarter, whereas effective cost control led to lower CIR.

The report noted that BOCHK's market share of loans and deposits expanded over the period, but credit costs were slightly higher than the broker's expectations, although the broker still expected full-year credit costs in 2024 to remain lower than 2023.

HSBC Global Research assumed that BOCHK's 1Q24 results will be modestly positive, and maintained a target price of $25.3 with a Buy rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-14 16:25.)

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