Gelonghui, Feb. 17 丨 Jefferies issued a report saying that the Bank of East Asia (0023.HK) net interest spread was better than expected. Even if HIBOR's performance was weak recently, East Asia's net interest spread guidelines are still encouraging; East Asia's provisions are still at a high level, but the visibility of credit cost normalization has increased. According to the bank, Bank of East Asia management believes that the net interest rate trend will continue, and indicates that net interest income may increase by 2 billion yuan this year. This also means that Hong Kong's net interest spread will reach 1.73%. Jefferies said that based on strong profit performance before provision, it will adjust the Bank of East Asia's 2023-2025 forecast and raise its target price from HK$11 to HK$12 to maintain its “buy” rating. The stock is currently reported at HK$10.84, with a total market value of HK$29 billion.
大行评级 | 富瑞：上调东亚(0023.HK)目标价至12港元 评级“买入”
Big Bank Ratings | Jefferies: Raising the target price of East Asia (0023.HK) to HK$12 to “buy”
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