Bank of East Asia profit up 3 per cent in 2018, misses analysts’ forecasts

//Bank of East Asia profit up 3 per cent in 2018, misses analysts’ forecasts

Bank of East Asia profit up 3 per cent in 2018, misses analysts’ forecasts

The Bank of East Asia said on Wednesday its full-year profit from ongoing operations rose by 3 per cent last year, but missed analysts’ forecasts as the 100-year-old lender completed a years-long cost-cutting and restructuring programme.Hong Kong’s largest independent and locally headquartered bank reported a profit from continuing operations of HK$6.55 billion (US$834 million) last year, compared with a profit of HK$6.37 billion in 2017. The bank reported pre-tax profit of HK$8.06 billion for…

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By | 2019-02-27T05:25:27+00:00 February 27th, 2019|Business|Comments Off on Bank of East Asia profit up 3 per cent in 2018, misses analysts’ forecasts