[ET Net News Agency, 10 October 2019] DBS Group Research re-initiated coverage on Bank
of China (Hong Kong)(BOCHK)(02388) with a "buy" rating and a target price of HK$33.
Despite ongoing US-China trade uncertainties, BOCHK has maintained its guidance for
FY2019 loan growth to be in the high single-digit driven by strong credit demands across
the board. The research house expects BOCHK to continue to deliver 8-9% loan growth p.a.
in FY2020-21.
DBS said BOCHK's differentiated growth strategy compared to its peers lies in the
focus on ASEAN. There is no specific timeline for BOC SG, but upon consolidation, ASEAN
will represent 6-8% of BOCHK's assets from 3-4%. Given the ongoing US-China trade dispute,
more Chinese corporates are shifting their factories into ASEAN, creating ample business
growth opportunities which BOCHK could take advantage of. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02388 BOC HONG KONG
Nominal 
23.600 +0.200 (+0.855%) Others
10/10/2019 11:34
{I-bank focus}DBS Research restarts BOC HK (02388) at HK$33
| Remark: | Real time quote last updated: 25/04/2024 09:31 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |