Market Report, "Hong Kong Commercial Banking Report Q3 2012", published
BMI View: Despite reporting strong profits in the first three quarters of 2011 and being marginally exposed to Europe, our outlook on Hong Kong's banking sector is less than optimistic. We expect banks' loan growth strategy and their exposure to non bank entities in China to weigh on profitability. Despite ongoing uncertainty in the global financial markets, Hong Kong banks have remained relatively resilient, with retail banks' aggregate pre-tax operating profit rising by 22.2% year-on-year through Q111 to Q311. Hong...
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