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Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh (HBND) AI Stock Analysis

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SG:HBND

Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh

(SGX:HBND)

Select Model
Rating:79Outperform
Price Target:SGD 1.00â–¼(-2.91% Downside)
Action:reiterated
Date:11/13/26

The overall score is driven primarily by a highly positive earnings outlook, robust bullish price trends, and an attractive valuation. The company's recent earnings call revealed a raised dividend payout ratio, stable margins, and improving asset quality, reinforcing its value proposition. A low P/E ratio and strong technical momentum further support the stock's upward trajectory. However, investors must weigh these strengths against internal financial risks, specifically rising debt leverage and deeply negative recent cash flows, which require careful monitoring.

Positive Factors
Broad-based growth and income diversificationGrowth across operating revenue, net interest income, and non-interest income indicates a broad earnings base rather than reliance on one product. Fee, custody, settlement, and lending expansion can improve resilience and support recurring revenue through different banking conditions.
Negative Factors
Materially higher leverageThe sharp increase in debt-to-equity signals greater reliance on debt funding and raises sensitivity to credit, liquidity, and market conditions. Even with growing assets and equity, higher leverage can reduce balance-sheet flexibility and increase downside risk during stress.

Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh (HBND) vs. iShares MSCI Singapore ETF (EWS)

-10%0%10%20%30%40%50%SG:HBND+38.81%EWS+11.02%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
SGD 435.17B
Dividend Yield
3.62%
Average Volume (3M)
1.37M
Price to Earnings (P/E)
8.8
Beta (1Y)
0.34
Revenue Growth
-2.69%
EPS Growth
-7.07%
Country
Singapore
Employees
313,746
Sector
General
Sector Strength
55
Industry
Banks - Diversified

Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh Business Overview & Revenue Model

Company Description

Bank of China Limited, established in Beijing, China, in 1912, delivers a comprehensive array of banking and financial services. Its extensive operations cover Chinese Mainland, Hong Kong, Macao, Taiwan, and a broad international footprint. The insti...

How the Company Makes Money

Bank of China Limited primarily earns revenue from traditional banking and financial markets activities. A major source is net interest income: the bank takes deposits and other funding at one set of interest rates and lends money (e.g., corporate lo...

Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh Earnings Call Summary

Earnings Call Date:Aug 28, 2026(Q2-2026)|% Change Since:15.08%|Next Earnings Date:Mar 30, 2021
Earnings Call SentimentPositive

The call was strongly positive, supported by steady revenue and profit growth, stable NIM, improving asset quality, a higher proposed payout ratio, expanding global operations, and broad growth across technology finance, non-interest income, custody, digital banking, and consumption-related businesses. Management also highlighted pressure on asset yields and deposit costs, uncertainty in U.S. dollar interest rates, and several credit-risk areas requiring close monitoring, but expressed confidence in maintaining stable asset quality throughout 2026.

Positive Updates

Steady First-Half Financial Growth
Operating revenue was RMB 357.1 billion and profit before provision was RMB 230.4 billion, with increases of 8.41% and 9.77% respectively. Net profit attributable to shareholders of the bank grew by 4.67% and 5.10% respectively. Management said the growth rate achieved quarter-on-quarter growth since 2025.

Negative Updates

Pressure on Overall Asset Yield
Management said that while RMB new-loan interest rates were stabilizing, slower credit growth and improving asset quality meant that overall asset yield was under pressure.

Company Guidance

For the second half of 2026, BOC said its domestic RMB loan growth rate is higher than average, with support focused on tech innovations, green development, and mid to long-term manufacturing, while overseas lending will maintain a good growth momentum and support smart manufacturing, renewable energy, new materials, and the biopharmaceutical industry; it will optimize asset and liability structure, expand low cost funding, continuously lower deposit cost, grow high yield businesses, and continue foreign currency NIM contribution. BOC expects to maintain a stable asset quality throughout 2026, with adequate risk provision and compensation capabilities, and will guard the bottom line of no systemic financial risks. It will maintain overseas business contribution to the group, with the contribution rate of overseas institution in terms of net profit making new breakthroughs, expand payment and clearing coverage to 60 countries and regions, offer derivative products in 90 currencies and multi-currency loans with the maximum 30 years of maturity, and maintain the contribution of non-interest income to total revenue amid low interest environment. The bank suggested increasing the payout ratio to 31% and declared a cash dividend of CNY 1.19 per 10 share.

Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh Financial Statement Overview

Summary

Financial performance reflects steady bottom-line profitability and a massively growing asset base, securing foundational stability. However, this is heavily offset by a recent spike in leverage and deeply negative cash flows, which present notable near-term operational and liquidity challenges.

Income Statement

72Positive

Balance Sheet

68Positive

Cash Flow

42Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue569.77B559.11B1.25T1.20T1.01T968.43B
Gross Profit569.77B559.11B629.41B621.92B584.72B604.08B
EBITDA20.78B28.03B324.18B326.02B312.51B305.41B
Net Income252.84B243.02B237.84B231.90B226.52B216.56B
Balance Sheet
Total Assets41.11T38.36T35.06T32.43T28.89T26.72T
Cash, Cash Equivalents and Short-Term Investments004.14T4.46T4.10T3.90T
Total Debt9.57T1.12T2.52T2.21T1.89T1.72T
Total Liabilities37.78T35.15T32.11T29.68T26.33T24.37T
Stockholders Equity3.19T3.06T2.82T2.63T2.42T2.23T
Cash Flow
Free Cash Flow-210.12B-1.22T523.73B787.30B-49.59B813.09B
Operating Cash Flow-151.57B-1.17T550.97B816.45B-21.86B843.26B
Investing Cash Flow-1.50T-1.07T-805.99B-539.43B-11.72B-395.56B
Financing Cash Flow1.34T2.17T111.86B119.86B53.05B74.34B

Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh Technical Analysis

Technical Analysis SentimentPositive
Last Price1.03

Price Trends

50DMA0.99Positive
100DMA0.93Positive
200DMA0.86Positive

Market Momentum

MACD0.01Negative
RSI56.56Neutral
STOCH84.31Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:HBND, the sentiment is Positive. The current price of 1.03 is above the 20-day moving average (MA) of 0.99, above the 50-day MA of 0.99, and above the 200-day MA of 0.86, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 56.56 is Neutral, neither overbought nor oversold. The STOCH value of 84.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:HBND.

Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

SG:HBND against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
SG:HBNDSG:HBND79OutperformSGD 400.45B8.768.69%3.62%-2.69%-7.07%
SG:U11SG:U1173OutperformSGD 62.24B9.569.73%4.21%-10.35%-19.23%
SG:O39SG:O3971OutperformSGD 128.85B20.6710.25%3.68%-2.86%7.77%
SG:D05SG:D0562NeutralSGD 201.77B17.8815.93%4.64%-5.30%-0.44%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%

* General Sector Average

Performance Comparison

0%50%SG:HBNDSG:D05SG:O39SG:U11SG:HSHDSG:IBKDDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
SG:HBND and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
SG:HBNDBank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh1.030.2838.07%
SG:D05DBS Group Holdings69.9018.5536.11%
SG:O39Oversea-Chinese Banking Corporation28.5310.8861.62%
SG:U11United Overseas Bank (Singapore)37.755.0315.37%
SG:HSHDHSBC Holdings PLC UnSp Singapore Depositary Receipt Repr 1/5 Sh4.590.9927.39%
SG:IBKDPT Bank Central Asia Tbk Shs UnSp Singapore Depositary Receipt Repr 2/1 Sh0.78-0.56-41.83%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 13, 2026