BOCHK loan growth up

Business | Stella Zhai 17 May 2019

BOC Hong Kong (2388) expects to maintain new loan growth rate this year and said the Sino-US trade war has limited impact on its business.

The company saw over 4 percent growth in new loan in the first quarter ended March despite a smaller borrowing demand, outperforming its peers, said chief executive Gao Yingxin. BOCHK's total loans to customers grew 10.5 percent last year.

Gao added that BOCHK was less affected by the escalation of the Sino-US trade war, and benefited from a relatively balanced range of business coverage.

The joint venture of BOCHK, Jingdong Digits Technology and Jardine Matheson was granted a license in March to operate a virtual bank, Livi VB, and was expected to launch in six to nine months.

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