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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Connect  >  BOC Hong Kong (Holdings) Limited    2388   HK2388011192

BOC HONG KONG (HOLDINGS) LIMITED

(2388)
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BOC Hong Kong : BOCHK named the Strongest Bank in Asia Pacific and Hong Kong by The Asian Banker for four consecutive year

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10/18/2017 | 07:26am EST

18 October 2017

BOCHK named the Strongest Bank in Asia Pacific and Hong Kong by

The Asian Banker for four consecutive year

Bank of China (Hong Kong) ("BOCHK") is named the Strongest Bank in Asia Pacific and Hong Kong 2017 by The Asian Banker. These honours have been granted to the Bank for four consecutive years in recognition of its solid financial performance and ability to continuously increase profitability.

The Asian Banker commended, "BOCHK remains as the Strongest Bank in Asia Pacific and Strongest Bank in Hong Kong in 2017, based on a very detailed and transparent scorecard that ranks commercial banks in the Asia Pacific Region. The Bank's score increased from 4.14 in the previous year's evaluation to 4.46 this year (the maximum score is 5) in the annual ranking of AB500 Strongest Banks by Balance Sheet. Despite substantial pressure on banks in the region to maintain profitability, BOCHK maintained strong capital and liquidity positions and sound asset quality, and also recorded improved balance sheet growth and better profitability."

The Group continues to enhance its profitability. While driving strong business growth, the Group maintains sound financial position, strengthens its risk management frameworks comprehensively and improves its credit quality. All these lay a solid foundation for healthy and sustainable business development of the Group in the future. In the first half of 2017, profit attributable to the equity holders of the Group amounted to HK$17,216 million. Profit attributable to the equity holders from continuing operations increased by 24.5% year-on-year to HK$14,627 million, achieving a new high since the Company's listing. The Group maintained solid capital position, with the Common Equity Tier 1 capital ratio at 17.66%, and the total capital ratio at 21.76%. While carefully managing its assets and liabilities, the Group delivered satisfactory operating results by proactively capturing business opportunities, introducing innovations and transformations, and promoting regional and sustainable development.

Since 2007, The Asian Banker has been publishing its ranking of the 500 Strongest Banks in Asia Pacific every year based on their balance sheet strength. The assessment ranks the commercial banks in the Asia Pacific, Middle East and Africa, based on six performance indicators, namely, scale, balance sheet growth, risk profile, profitability, asset quality and liquidity. This comprehensive evaluation honours the most outstanding bank in each of the countries and regions and names the top performer among those winning banks as the Strongest Bank in Asia Pacific.

- End ─

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About Bank of China (Hong Kong) Limited

Bank of China (Hong Kong) Limited ("BOCHK") is a leading commercial banking group in Hong Kong with strong market positions in all major businesses. We have the most extensive local branch network and diverse service platforms, including 196 branches, efficient e-channels of over 1,000 self-service machines, as well as Internet and Mobile Banking services. We offer a comprehensive range of financial, investment and wealth management services to personal, corporate and institutional customers. In accordance with the strategic plan of BOC Group, we have been driving our regional development through the acquisitions of Bank of China Limited's ("BOC") institutions in Southeast Asia and the establishment of a Brunei Branch. We are actively expanding our business in Southeast Asia and transforming BOCHK into an internationalised regional bank.

BOCHK is one of the three note-issuing banks and the sole clearing bank for Renminbi ("RMB") business in Hong Kong. With our strong RMB franchise, we are the first choice of customers in this business. Through the deep collaboration with our parent bank, BOC, we provide a full range of high quality cross-border services to multinationals, cross-border customers, Mainland enterprises going global, central banks and super-sovereign organisations.

BOC Hong Kong (Holdings) Limited, BOCHK's holding company, is one of the largest listed companies on the main board of the Stock Exchange of Hong Kong, with stock code "2388" and ADR OTC Symbol "BHKLY".

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BOC Hong Kong (Holdings) Ltd. published this content on 18 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 October 2017 11:25:01 UTC.

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Financials (HKD)
Sales 2019 59 136 M
EBIT 2019 42 402 M
Net income 2019 32 775 M
Debt 2019 -
Yield 2019 5,54%
P/E ratio 2019 8,91x
P/E ratio 2020 8,90x
Capi. / Sales2019 4,90x
Capi. / Sales2020 4,74x
Capitalization 290 B
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Number of Analysts 12
Average target price 32,33  HKD
Last Close Price 27,40  HKD
Spread / Highest target 42,3%
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Spread / Lowest Target -5,84%
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Ying Xin Gao Vice Chairman, President & Chief Executive Officer
Lian Ge Liu Chairman
Xiang Qun Zhong Chief Operating Officer
Yang Sui Chief Financial Officer
Beng Seng Koh Independent Non-Executive Director
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