JPMorgan Chase & Co issued a report that raised his profit forecasts for Bank of China Ltd. (3988.HK) for 2021, 2022 and 2023 by 1.8 per cent, 4.3 per cent and 6 per cent respectively to reflect his performance in the first half of this year, saying that his interim results showed continued improvement in asset quality, a 16 basis point decline in the non-performing loan ratio on a half-yearly basis, and a recovery in fee growth.

The bank raised its target price to the Bank of China from HK 3.6Yuan raised to 3.9港Yuan, as its valuation forecast extends to December 2022."increase holdings"Rating.