According to a research report published by GLONGHUI on July 20, Citibank will announce interim results from the end of this month. Due to the strengthening of Hong Kong's interbank interest rate (HIBOR) in May and June, net interest spreads are expected to recover in the first half of the year. But at the same time, since market sentiment is still weak, bank fee revenue growth is expected to be sluggish. The bank pointed out that although the mainland authorities may introduce a government to support the development of the property market, the credit costs of banks that continue to be affected by China's commercial real estate business have improved, they are more optimistic about the improvement in capital returns of foreign banks. In response to foreign exchange control (0005.HK), they will carry out a repurchase of 2 billion US dollars and anticipate that the RoTE target can be raised from more than 12% to more than 13%, and a 90-day upward observation period will be carried out on them. Due to bottoming out in asset quality, increased profitability, and attractive valuations, Citibank raised the Bank of East Asia (0023.HK) rating from “neutral” to “buy” and raised the target price from 11.29 to HK$13.24. Among local banks in Hong Kong, Citibank Hong Kong (2388.HK) is more optimistic about Bank of China Hong Kong (2388.HK). The target price increased slightly from HK$26.5 to HK$26.6, followed by the Bank of East Asia, followed by Hang Seng (0011.HK). The rating was “neutral”, while the target price was raised from HK$109 to HK$115.