Bank Of East Asia Sees Material Decrease In HY Profit [Reuters]
BANK OF EAST ASIA S/ADR (BKEAY)
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Source: Reuters
Bank of East Asia Ltd (0023.HK) Key Developments | Reuters.com June 13 (Reuters) - Bank of East Asia Ltd ::EXPECTS TO REPORT A MATERIAL DECREASE IN PROFIT FOR SIX MONTHS ENDING 30 TH JUNE, 2019.LIKELY DECREASE IN PROFIT IS ATTRIBUTABLE TO AN EXPECTED DOWNGRADE OF FOUR LEGACY LOAN ASSETS IN MAINLAND CHINA.BANK'S COMMON EQUITY TIER 1 (CET1) & TOTAL CAPITAL ADEQUACY RATIO AS OF 30TH JUNE, 2019 EXPECTED TO REMAIN ABOVE 14.5% AND 19%.DOWNGRADE TO RESULT IN SIGNIFICANT POST-TAX IMPAIRMENT LOSSES, ESTIMATED TO BE BETWEEN HK$2.5 BILLION AND HK$3.0 BILLION . Reuters, the news and media division of Thomson Reuters , is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products: All quotes
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