82388 BOC HONG KONG-R
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BOC HONG KONG-R News
Hong Kong Property Review: Large banks are tightening their nano flat mortgages, reflecting a shift in banks' mortgage business from quantity to quality.
Large banks in the city are tightening their lending for nanometer apartments. Cao Deming, vice president of mortgage referral, said that banks generally consider many factors when approving residence mortgages, such as property type, age, turnover, borrower's occupation, nationality, and interest rates, and the approval attitude for mortgages will vary accordingly. Recently, the interest rates are still at a high level, resulting in high mortgage business funding costs. Based on cost, margin profit, and risk management, some banks' mortgage business strategies have shifted from "seeking quantity" to "seeking quality," with more cautious assessment of property quality and risk. However, the nanometer apartment market accounts for a small proportion and has a relatively minor impact.
BOC Survey: Nearly 80% of surveyed companies have conducted cross-border business in the Greater Bay Area.
BOC Hong Kong (02388.HK) held a cross-border financial forum and announced the survey results of "Greater Bay Area business needs". The surveyed companies generally believe that the Greater Bay Area market has vast development space and can bring new growth points for their business. Factors that attract companies to enter the mainland cities of the Greater Bay Area also include lower operating costs, which are conducive to optimizing company resources, and better industry support to help improve innovation and transformation capabilities. The survey shows that nearly 80% of the surveyed companies have already conducted businesses in mainland cities of the Greater Bay Area, of which nearly 60% have had cross-border business experience of 5 years or more. The top three mainland cities chosen by companies to expand their businesses are Shenzhen, Guang...
Goldman Sachs rates BOC Hong Kong (02388) as a 'buy' with a target price of HKD 30.1.
Goldman Sachs suggests that the net interest margin of BOC Hong Kong may be relatively stable.
BOC Hong Kong's (02388.HK) Wealth Management TrendyToo has seen a more than 50% increase in the number of young clients opening accounts on an annual basis.
**** Wan, Deputy General Manager of Personal Finance and Wealth Management Department (Local Clients) at BOC Hong Kong (02388.HK), disclosed that since the launch of the bank's young brand 'Wealth TrendyToo', it has been actively exploring innovative channels and services to help young customers gradually establish a wealth foundation. The number of new young customers (aged between 18 and 35) who have opened accounts has increased by more than 50% year-on-year in the first five months of this year. She pointed out that BOC Hong Kong's young customers prefer to invest in stocks and forex, and in the first five months of this year, the transaction amounts of these two investments accounted for over 80% of the young customers' overall investment transaction amounts.
BOC Hong Kong maintains the most favorable rate of 5.875 cents for Hong Kong dollars.
BOC Hong Kong (02388.HK) announced that the Hong Kong Dollar Best Lending Rate and savings deposit interest rate will remain unchanged at annual interest rates of 5.875 basis points and 0.875 basis points, respectively. The bank offers an annual interest rate of 0.875 basis points for Hong Kong Dollars of $5,000 or more, and maintains a zero interest rate for amounts below $5,000.
BOC Hong Kong: Fed cautious about inflation decline, be wary of volatility in US stocks.
The US interest rate decision reflects the Federal Reserve's cautious attitude towards the progress of inflation decline, and it needs time to observe before starting the interest rate cut cycle.
BOC Hong Kong (02388.HK): The Federal Reserve maintains a cautious attitude towards the pace of inflation decline and is expected to only lower interest rates once this year.
The Federal Reserve, as expected by the market, kept the federal funds rate target range unchanged at 5.25 to 5.5 basis points. Zhang Shiqi, head of wealth strategy and analysis at the Personal Digital Financial Products Department of BOC Hong Kong, believes that the interest rate decision reflects the cautious attitude of the Fed towards the progress of inflation decline, and it will take time to observe before starting the rate cut cycle. Zhang Shiqi believes that two changes in the interest rate dot plot should be noted. First, the median interest rate at the end of this year was raised from 4.6% estimated in March to 5.1%. Assuming a 0.25% rate cut each time, it suggests that there may be only one interest rate cut within this year. Second, compared to the interest rate dot plot in March.
Exploring cross-border insurance! Is the "miracle" of Hong Kong insurance still there?
Behind the fiery Hong Kong insurance of this round is the concentrated release of overseas asset allocation demand that has been suppressed on the mainland for 3 to 4 years.
BOC Hong Kong (02388.HK): The number of small and medium-sized enterprise account openings in the first four months has increased by 10% year-on-year.
BOC Hong Kong (02388.HK) opened its 9th commercial wealth management center in Tsim Sha Tsui. Kenneth Keng, Deputy General Manager of BOC Hong Kong's Personal Finance and Wealth Management Department, said that the bank's account opening for small and medium-sized enterprises increased by 10% year-on-year in the first four months, with high-level talents opening corporate accounts in Hong Kong being the main driving force for growth. The bank intends to provide a series of financial services and benefits for customers who want to start businesses in Hong Kong, including express account opening, loan plans, and local business information. (vc/cy)~
Express News | CITIC SEC believes that continuous real estate finance policies will change the expectations of bank real estate debt risks.
The total credit card spending in the first quarter of China Construction Bank reached a new quarterly high.
Benefiting from the recovery of the retail market and the travel boom, BOC Hong Kong's credit card business continues to grow steadily, with the total spending reaching a quarterly record high in the first quarter of this year, among which the increase in travel spending is the most significant. Vice President of BOC Credit Card (International), Ho Wai Man, said that as Hong Kong's economy steadily recovers, it further boosts the travel aspirations of Hong Kong citizens. In the first quarter of this year, the total miles redeemed by the bank's customers with credit card points increased by nearly 70% annually, and the overseas spending of BOC Cheers Card, designed specifically for travel enthusiasts, also increased by nearly 50% annually, indicating a significant increase in travel spending.
BOC Hong Kong May Benefit From Growth in Cross-Border Financial Services -- Market Talk
0452 GMT - BOC Hong Kong may benefit from growth in cross-border financial services, OCBC analysts say, noting the stock's relatively attractive valuation among local peers and higher earnings potenti
Express News | GTJA: Real estate policy remains stable, banks sector valuation repair in progress.
Express News | Why is the banking sector the top gainer this year, according to Industrial Securities?
BOC Hong Kong (02388) has launched the first carbon footprint tracking feature in Hong Kong on mobile banking.
BOC Hong Kong (02388) announced the launch of the first carbon footprint tracking function in Hong Kong on the mobile banking app "Carbon.Life" area to further promote the bank's digital green transformation in order to support customers in transitioning towards a green and low-carbon lifestyle.
It continues! Several small and medium-sized banks have lowered the listed deposit rates for some terms starting from June, and the decline can reach up to 30 basis points.
Some small and medium-sized banks have used the deposit interest rate marketization adjustment mechanism and reasonably reduced their cost of debt to improve their operation according to the deposit market and their own operating conditions, which expands the space for further benefiting the real economy. The adjustment time and amplitude of different banks vary according to their own situation and referring to similar banks.
Institutions: Hold high-dividend assets with peace of mind, and have a more flexible layout of Hong Kong stock core assets
The bear market mentality developed over the past few years has made the improvement in risk appetite in Hong Kong stocks not happen overnight. Hong Kong stocks are expected to spiral upward. Currently, the first phase of the market, driven by bearish correction and expected recovery in Hong Kong stocks, has basically come to an end.
Express News | GF Securities: Banks' non-interest contribution has increased, asset quality is stable
Express News | Commercial banks in China achieved cumulative net profit of 672.3 billion yuan in the first quarter
Express News | State Council's State-owned Assets Administration Commission: State-owned central enterprises should further focus on key points to deepen reforms
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