Glonghui, April 12 | Goldman Sachs released a report. It is expected that the basic profit before tax for the first quarter will be US$8.9 billion on the 30th of this month, down 5% from year to year. Revenue is roughly flat, but costs have risen. The first quarter results will take into account the proceeds from the sale of the Canadian business of US$4.9 billion and the loss of the sale of the Argentine business of US$1 billion. The bank expects investors to pay attention to revenue performance, return on capital and credit costs. It estimates that total revenue for the first quarter increased by 1% year-on-year, and the bank's net interest income increased by 7% year-on-year, but non-interest income fell 9% year-on-year, mainly due to the fact that the Hong Kong stock market is still weak and affected by foreign exchange. In terms of return on capital, management expects a special dividend of $0.21 per share, along with the usual quarterly payment of $0.1, or $0.31 per share. Taking into account the impact of the sale of the Canadian business and the Argentine business, it is expected that the common equity Tier 1 capital ratio will increase from 14.6% to 15.6%. The bank adjusted FX Control's earnings forecast per share from this year to 2028, from 2% to an increase of 2%, maintaining its “buy” rating, with a target price of HK$80.