Want to see SG:HBND full AI Analyst Report?
Top Page
Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh
(SGX:HBND)
Select Model
Select Model
Rating:66Neutral
Price Target:
S$1.00
▲(38.89% Upside)
Action:Reiterated
Date:09/15/26
The score is primarily held back by weaker financial quality signals—especially negative/volatile free cash flow and the sharp TTM revenue decline—despite solid profitability. Technicals are supportive but look overbought, while valuation (low P/E and healthy yield) and a constructive earnings call with stable asset-quality guidance provide meaningful support.
Positive Factors
Resilient Core Earnings
First-half revenue and profit-before-provision growth, alongside strong net interest income expansion, show resilient core banking earnings. This supports continued loan growth and provides a stronger foundation for sustaining profitability over the coming quarters.
Negative Factors
Sharp Revenue Decline
A sharp trailing revenue decline indicates that top-line momentum has weakened despite solid profitability. If this pattern persists, it could limit operating leverage, reduce the resources available for expansion, and make future earnings growth less durable.
Read all positive and negative factors
Positive Factors
Negative Factors
Resilient Core Earnings
First-half revenue and profit-before-provision growth, alongside strong net interest income expansion, show resilient core banking earnings. This supports continued loan growth and provides a stronger foundation for sustaining profitability over the coming quarters.
Read all positive factors
Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh (HBND) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$376.29B
Dividend Yield3.81%
Average Volume (3M)2.30M
Price to Earnings (P/E)8.1
Beta (1Y)0.41
Revenue GrowthN/A
EPS GrowthN/A
CountrySG
Employees313,746
SectorGeneral
Sector StrengthN/A
IndustryBanks - Diversified
Share Statistics
EPS (TTM)0.73
Shares Outstanding83,622,270,000
10 Day Avg. Volume2,093,660
30 Day Avg. Volume2,299,633
Financial Highlights & Ratios
PEG Ratio-4.08
Price to Book (P/B)0.41
Price to Sales (P/S)2.23
P/FCF Ratio-1.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 in...
How the Company Makes Money
Bank of China Limited primarily earns money through (1) net interest income: it takes deposits and other funding and extends loans/advances to corporate and retail customers, invests in interest-earning securities, and earns the spread between int...
Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh Earnings Call Summary
Earnings Call Date:Aug 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 31, 2026
Earnings Call Sentiment Positive
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.
Read all updates
Q2-2026 Updates
Positive
Negative
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.
Read all positive updates
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
Income Statement
66
Positive
Balance Sheet
63
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 567.51B | 559.11B | 1.25T | 1.20T | 1.01T | 968.43B |
| Gross Profit | 567.51B | 559.11B | 629.41B | 621.92B | 584.72B | 604.08B |
| EBITDA | 0.00 | 0.00 | 324.18B | 326.02B | 312.51B | 305.41B |
| Net Income | 249.02B | 243.02B | 237.84B | 231.90B | 226.52B | 216.56B |
Balance Sheet | ||||||
| Total Assets | 40.19T | 38.36T | 35.06T | 32.43T | 28.89T | 26.72T |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 0.00 | 4.14T | 4.46T | 4.10T | 3.90T |
| Total Debt | 1.21T | 1.12T | 2.52T | 2.21T | 1.89T | 1.72T |
| Total Liabilities | 36.95T | 35.15T | 32.11T | 29.68T | 26.33T | 24.37T |
| Stockholders Equity | 3.10T | 3.06T | 2.82T | 2.63T | 2.42T | 2.23T |
Cash Flow | ||||||
| Free Cash Flow | -25.07B | -1.22T | 523.73B | 787.30B | -49.59B | 813.09B |
| Operating Cash Flow | 37.70B | -1.17T | 550.97B | 816.45B | -21.86B | 843.26B |
| Investing Cash Flow | -1.19T | -1.07T | -805.99B | -539.43B | -11.72B | -395.56B |
| Financing Cash Flow | 1.26T | 2.17T | 111.86B | 119.86B | 53.05B | 74.34B |
Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh Technical Analysis
Positive
0.72
Price Trends
0.92
Positive
0.88
Positive
0.81
Positive
Market Momentum
0.02
Positive
54.80
Neutral
26.98
Neutral
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 0.72 is below the 20-day moving average (MA) of 0.98, below the 50-day MA of 0.92, and below the 200-day MA of 0.81, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 54.80 is Neutral, neither overbought nor oversold. The STOCH value of 26.98 is Neutral, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | S$222.74B | 19.79 | 16.23% | 4.07% | -5.30% | -0.44% | |
78 Outperform | S$71.43B | 10.97 | 9.73% | 3.67% | -10.35% | -19.23% | |
77 Outperform | S$144.53B | 18.38 | 13.01% | 3.26% | -2.86% | 7.77% | |
66 Neutral | S$376.29B | 8.11 | 8.41% | 3.77% | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
SG:HBND
Bank of China Ltd UnSp Singapore Depositary Receipt Repr 1 Sh
0.98
0.30
44.12%
SG:D05
DBS Group Holdings
78.38
29.85
61.49%
SG:O39
OCBC
32.16
16.38
103.79%
SG:U11
UOB
43.32
10.12
30.48%
SG:HSHD
HSBC Holdings PLC UnSp Singapore Depositary Receipt Repr 1/5 Sh
5.19
1.69
48.37%
SG:IBKD
PT Bank Central Asia Tbk Shs UnSp Singapore Depositary Receipt Repr 2/1 Sh
0.88
-0.23
-20.53%
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.