Bank of America Securities issued a research report stating that BOC Hong Kong (02388) reported a 4.9% year-on-year increase in net profit for the last year, which was 2.3% higher than the bank's forecast. The core profit of BOC Hong Kong rose by 9.4% compared to the previous year, exceeding Bank of America Securities' expectations by 2.2%. The return on equity (ROE) for BOC Hong Kong slightly decreased by 0.1 percentage points to 11.5%. The dividend payout ratio increased by 1 percentage point year-on-year to 56%, aligning with Bank of America Securities' projections. Bank of America Securities raised its profit forecast for BOC Hong Kong for 2026 to 2027 by 5% to 6% and increased the target price from HK$38.5 to HK$40. Considering uncertainties in macroeconomic growth and provisions, along with the relatively low attractiveness of the dividend yield, the firm maintained its "Neutral" rating.