Bank of China Likely to Benefit From Overseas, Wealth Management Businesses -- Market Talk

Dow Jones06-11

0805 GMT - Bank of China will likely continue to benefit from its overseas and wealth-management businesses, Morningstar analyst Iris Tan says in a research note. A delayed U.S. rate cut will benefit the lender's overseas business, which represents about 22% of Bank of China's total assets and contributes about 23% of operating profits, and help offset continuing domestic net interest margin compression, she says. Meanwhile, its wealth-management business is expected to grow, thanks to a large, quality retail customer base and strong growth in the bank's wealth-management product scale in recent years, Tan says. Morningstar keeps its HK$3.50 fair-value estimate on the stock. Shares are last at HK$3.72. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

June 11, 2024 04:05 ET (08:05 GMT)

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Meanwhile, its wealth-management business is expected to grow, thanks to a large, quality retail customer base and strong growth in the bank's wealth-management product scale in recent years, Tan says. Morningstar keeps its HK$3.50 fair-value estimate on the stock. Shares are last at HK$3.72. 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A delayed U.S. rate cut will benefit ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1560","symbol_name":"内银股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2442355181","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2442355181","pubTimestamp":1718093100,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0805 GMT - Bank of China will likely continue to benefit from its overseas and wealth-management businesses, Morningstar analyst Iris Tan says in a research note. A delayed U.S. rate cut will benefit the lender's overseas business, which represents about 22% of Bank of China's total assets and contributes about 23% of operating profits, and help offset continuing domestic net interest margin compression, she says. Meanwhile, its wealth-management business is expected to grow, thanks to a large, quality retail customer base and strong growth in the bank's wealth-management product scale in recent years, Tan says. Morningstar keeps its HK$3.50 fair-value estimate on the stock. Shares are last at HK$3.72. 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A delayed U.S. rate cut will benefit the lender's overseas business, which represents about 22% of Bank of China's total assets and contributes about 23% of operating profits, and help offset continuing domestic net interest margin compression, she says. Meanwhile, its wealth-management business is expected to grow, thanks to a large, quality retail customer base and strong growth in the bank's wealth-management product scale in recent years, Tan says. Morningstar keeps its HK$3.50 fair-value estimate on the stock. Shares are last at HK$3.72. 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