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<Research>Citi Continues to Rate BOC HONG KONG as Buy; Results Sufficient to Drive Up Earnings Forecasts
Recommend 7 Positive 15 Negative 7 |
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According to a report from Citi, BOC HONG KONG (02388.HK)'s 1Q25 operating profit rose by 14% YoY to $14.7 billion, beating the broker's expectation by 13% and accounting for 32% of the market's full-year forecast, mainly due to stronger-than-expected net interest income and robust non-interest income. Benefiting from a 35% YoY increase in fee income and more than doubling of other non-interest income, the bank's quarterly revenue also grew by 13% YoY, surpassing Citi's 9% forecast. Citi kept the target price of $32.2 and the Buy rating unchanged for BOC HONG KONG. AAStocks Financial News |
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