March 28, 2024 08:47 GMT
Chinese Bank Results; Reassuring For StanChart, HSBC, AIA
FINANCIALS
Two big Chinese banks reporting now – headlines look solid-to-good:
*AGBANK FY NET INCOME 269.36B YUAN, EST. 265.2B YUAN
*AGBANK NON-PERFORMING LOANS RATIO 1.33%, EST. 1.34%
*AGBANK COVERAGE RATIO FOR NPL 303.9%, EST. 294.8%
*BOC Hong Kong (Holdings) 2023 Net HK$34.12B Vs. Net HK$27.33B >2388.HK
*BOC Hong Kong 2023 Net Operating Income Before Impairment Allowances HK$65.50B Vs. HK$54.22B >2388.HK
- AgBank (1288 HK) in line, BoCHK (3988 HK) ahead and looks like a revenue beat. Positively, no noticeable commentary about deteriorating asset quality in headlines.
- More to follow… but looks reassuring for HSBC, StanChart, UBS, AIA
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