Realized/unrealized gains on securities, including fair value gains, are 1.4x net profit. Earnings quality is not wonderful. Credit metrics also are of concern.
Daniel has highlighted this Insight as a Top Pick
Boomeranged on Wed, 30 Aug 2023 18:43
With new data from Dah Sing, BEA, Public Bank (HK), it becomes clear that credit metrics in Hong Kong are worsening. HSBC is caught geopolitically in China/HK, and is likely to be more revealing in its credit metrics. New data from China Merchants Bank, points to serious deterioration in credit metrics in China. HSBC is highly exposed, to HK & China.
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