Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>UBS Expects Weak Net Interest Income Growth in 1H24 for HANG SENG BANK w/ Continuous Improvement in Non-Interest Income
Recommend 15 Positive 21 Negative 13 |
||||
|
||||
|
UBS became more cautious on HANG SENG BANK (00011.HK), based on a potentially weaker-than-expected trend in net interest income. Factors contributing to this include a 49 bps drop in Hong Kong's one-month HIBOR YTD compared with 2H23, a 2% decline in banking system loan in 4M24, and the 1 ppt fall in sector-wide CASA ratio to 40% over the same period. UBS expected HANG SENG BANK's net interest margin to be broadly stable or slightly narrower this year, with net interest income expected to decline in a low to mid single-digit. However, non-interest income will improve due to credit card and wealth management fee income. UBS now rated HANG SENG BANK at Neutral, with a target price of $94.5. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
