BOC Hong Kong: Solid year-over-year growth offset by a sequential Q3 decline; asset quality remains robust

Net operating income before impairment rose 6.3% year-over-year for the first nine months of 2025, but fell 13.9% sequentially in Q3. Net fee and commission income surged 22.1% year-over-year, while the impaired loan ratio remained low at 0.96%.

Original document: BOC Hong Kong (Holdings) Limited [2388] Earnings Release — Oct. 27 2025

                                Close      Prior     Change   % Change 
                                -----      -----     ------   -------- 
 Aluminum Corp China             9.10       8.77      +0.33      +3.76 
 Bank of China                   4.39       4.40      -0.01      -0.23 
 Bank of Communications          6.92       6.92       unch       unch 
 Bank of East Asia              13.27      13.21      +0.06      +0.45 
 BOC Hong Kong (Holdings)       37.98      37.06      +0.92      +2.48 
 Cafe de Coral Holdings          6.45       6.51      -0.06      -0.92 
 Cathay Pacific Airways         11.01      11.17      -0.16      -1.43 
 China Coal Energy              10.99      11.06      -0.07      -0.63 
 China Construction Bank         7.89       7.88      +0.01      +0.13 
 China Life Insurance           24.88      24.58      +0.30      +1.22 
 China Merchants Port           15.21      15.15      +0.06      +0.40 
 China Mobile                   85.40      85.10      +0.30      +0.35 
 China Overseas Land & Inv      13.74      13.84      -0.10      -0.72 
 China Petro & Chem              4.21       4.20      +0.01      +0.24 
 China Rscs Beer Holdings       27.00      27.00       unch       unch 
 China Resources Land           29.36      29.42      -0.06      -0.20 
 China Resources Power          18.41      18.37      +0.04      +0.22 
 China Shenhua Energy           41.20      41.18      +0.02      +0.05 
 China Unicom (Hong Kong)        9.39       9.39       unch       unch 
 CITIC                          11.61      11.56      +0.05      +0.43 
 CK Hutchison Holdings          51.15      50.90      +0.25      +0.49 
 CLP Holdings                   66.05      65.95      +0.10      +0.15 
 CNOOC                          20.02      19.92      +0.10      +0.50 
 COSCO SHIPPING Ports            5.81       5.83      -0.02      -0.34 
 Esprit Holdings                 1.29       1.34      -0.05      -3.73 
 FIH Mobile                     18.81      18.39      +0.42      +2.28 
 Hang Lung Properties            8.83       8.81      +0.02      +0.23 
 Hang Seng Bank                151.80     151.80       unch       unch 
 Henderson Land Devt            27.82      27.56      +0.26      +0.94 
 Hong Kong & China Gas           7.22       7.24      -0.02      -0.28 
 HK Exchanges & Clearing       425.00     421.80      +3.20      +0.76 
 Hong Kong Tech Venture          1.42       1.42       unch       unch 
 HSBC Holdings                 103.10     102.70      +0.40      +0.39 
 i-CABLE Communications          0.11       0.09      +0.02     +18.48 
 Indl & Cmcl Bk of China         6.07       6.06      +0.01      +0.17 
 Manulife Financial            249.40     246.60      +2.80      +1.14 
 Mongolia Energy                 0.72       0.74      -0.02      -2.70 
 MTR                            27.50      27.42      +0.08      +0.29 
 New World Development           7.53       7.54      -0.01      -0.13 
 PetroChina                      8.00       8.01      -0.01      -0.12 
 Ping An Ins of China           55.65      55.55      +0.10      +0.18 
 Power Assets Holdings          50.05      49.90      +0.15      +0.30 
 Sino Land                       9.74       9.78      -0.04      -0.41 
 SINOPEC Shanghai Pet            1.37       1.39      -0.02      -1.44 
 Sun Hung Kai Properties        95.05      93.50      +1.55      +1.66 
 Swire Pacific A                66.15      65.35      +0.80      +1.22 
 Tencent Holdings              637.50     633.00      +4.50      +0.71 
 Tsingtao Brewery               53.90      53.90       unch       unch 
 VTech Holdings                 62.15      60.60      +1.55      +2.56 
 Wharf (Holdings)               20.70      20.64      +0.06      +0.29 
 
Prices in HK$ 
Source: FactSet 

Prices in HK$ 
 
                                 Close      Prior     Change   % Change 
  Aluminum Corp China             6.84       6.94      -0.10      -1.44 
  Bank of China                   4.33       4.33       unch       unch 
  Bank of Communications          6.73       6.79      -0.06      -0.88 
  Bank of East Asia              12.17      12.04      +0.13      +1.08 
  BOC Hong Kong (Holdings)       38.20      37.28      +0.92      +2.47 
  Cafe de Coral Holdings          6.95       6.82      +0.13      +1.91 
  Cathay Pacific Airways         10.62      10.48      +0.14      +1.34 
  China Coal Energy               9.54       9.39      +0.15      +1.60 
  China Construction Bank         7.63       7.67      -0.04      -0.52 
  China Life Insurance           22.50      22.58      -0.08      -0.35 
  China Merchants Port           15.15      15.06      +0.09      +0.60 
  China Mobile                   85.60      85.85      -0.25      -0.29 
  China Overseas Land & Inv      13.99      13.85      +0.14      +1.01 
  China Petro & Chem              4.18       4.13      +0.05      +1.21 
  China Rscs Beer Holdings       27.68      27.28      +0.40      +1.47 
  China Resources Land           31.46      31.32      +0.14      +0.45 
  China Resources Power          19.17      18.75      +0.42      +2.24 
  China Shenhua Energy           36.84      36.24      +0.60      +1.66 
  China Unicom (Hong Kong)        9.57       9.44      +0.13      +1.38 
  CITIC                          12.08      11.31      +0.77      +6.81 
  CK Hutchison Holdings          51.65      51.30      +0.35      +0.68 
  CLP Holdings                   64.65      64.60      +0.05      +0.08 
  CNOOC                          20.08      20.00      +0.08      +0.40 
  COSCO SHIPPING Ports            5.65       5.62      +0.03      +0.53 
  Esprit Holdings                 1.46       1.47      -0.01      -0.68 
  FIH Mobile                     16.19      15.43      +0.76      +4.93 
  Hang Lung Properties            8.50       8.49      +0.01      +0.12 
  Hang Seng Bank                114.70     114.00      +0.70      +0.61 
  Henderson Land Devt            26.58      26.52      +0.06      +0.23 
  Hong Kong & China Gas           7.01       6.89      +0.12      +1.74 
  HK Exchanges & Clearing       436.20     435.60      +0.60      +0.14 
  Hong Kong Tech Venture          1.43       1.45      -0.02      -1.38 
  HSBC Holdings                 101.70     102.10      -0.40      -0.39 
  i-CABLE Communications          0.08       0.08       unch       unch 
  Indl & Cmcl Bk of China         5.79       5.77      +0.02      +0.35 
  Manulife Financial            240.20     240.60      -0.40      -0.17 
  Mongolia Energy                 0.69       0.68      +0.01      +1.47 
  MTR                            26.38      26.40      -0.02      -0.08 
  New World Development           8.50       7.24      +1.26     +17.40 
  PetroChina                      7.79       7.69      +0.10      +1.30 
  Ping An Ins of China           56.00      55.45      +0.55      +0.99 
  Power Assets Holdings          51.20      51.30      -0.10      -0.19 
  Sino Land                       9.79       9.67      +0.12      +1.24 
  SINOPEC Shanghai Pet            1.32       1.31      +0.01      +0.76 
  Sun Hung Kai Properties        92.50      92.15      +0.35      +0.38 
  Swire Pacific A                68.05      67.40      +0.65      +0.96 
  Tencent Holdings              617.50     605.50     +12.00      +1.98 
  Tsingtao Brewery               50.65      50.20      +0.45      +0.90 
  VTech Holdings                 60.65      61.35      -0.70      -1.14 
  Wharf (Holdings)               23.14      23.06      +0.08      +0.35 
Source: FactSet 
 

Profit attributable to equity holders rose 10.5% year-over-year, with strong growth in fee and non-interest income, and improved cost efficiency. Asset quality and capital ratios remain robust, while the outlook highlights both macroeconomic challenges and opportunities in digital and RMB business.

Original document: BOC Hong Kong (Holdings) Limited [2388] Slides Release — Aug. 29 2025

Net operating income before impairment allowances rose 13.3% year-over-year, with profit for the period up 11.4% and strong growth in fee, commission, and trading income. Capital and liquidity ratios remained robust, while asset quality was stable despite higher impairment charges.

Original document: BOC Hong Kong (Holdings) Limited [2388] Earnings Release — Aug. 29 2025

Net operating income and profit attributable to equity holders grew double digits year-on-year, supported by strong trading gains, fee income, and robust capital and liquidity positions. Impairment allowances increased amid higher credit risk, while digital transformation and regional expansion continued to drive growth.

Original document: BOC Hong Kong (Holdings) Limited [2388] Earnings Release — Aug. 29 2025