Glonghui, Feb. 17. According to the report, East Asia (0023.HK)'s after-tax profit for the second half of last year reached 2.9 billion yuan, which was 54% and 50% higher than the bank's and market forecasts respectively, mainly due to the better performance of net interest income and lower costs; net interest income rose 36% to 7.7 billion yuan year-on-year, which was 7% and 13% higher than the bank's and market forecasts respectively, and the annual net interest spread widened to 1.65%; non-net interest income was lower than the bank's and market forecasts by 4% and 3%, mainly due to weak performance of loan-related expenses and weak wealth expenses. The bank said that when the non-performing loan ratio rises to 2.39% in the second half of the year, credit quality will be the focus of the market. The bank said that even if the reopening of the mainland brings potential impetus, it is still challenging to look forward to the outlook for East Asia, and management also predicts that the high interest rate environment will continue this year. The bank gave it a target price of HK$11.5, maintaining the rating “in sync with the market”. The stock is currently reported at HK$10.84, with a total market value of HK$29 billion.