Bank of China on target for HK$6.3 billion profit
(Hong Kong) - The Bank of China's (BOC) new listed Hong Kong flagship is on target to deliver the HK$6.3 billion profit it promised the market when it floated last year.
The BOC is set to deliver its first results as a listed entity this Thursday, but although analysts are expecting the profit to meet the forecast there are ongoing concerns about the quality of the bank's corporate loan book and exposure to the property market.
A drop in bad debt charges and the lack of one off charges associated with restructuring, however, should see the BOC lift annual profit from last year's HK$2.77 billion, with one analyst predicting a HK$6.52 billion result.
The BOC Hong Kong was formed after a merger of the BOC's Hong Kong branch with nine sister banks last year.
A drop in bad debt charges and the lack of one off charges associated with restructuring, however, should see the BOC lift annual profit from last year's HK$2.77 billion, with one analyst predicting a HK$6.52 billion result.
The BOC Hong Kong was formed after a merger of the BOC's Hong Kong branch with nine sister banks last year.
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