Bank Of China Ltd Class H 03988

Stock XHKG Rating as of Oct 2, 2026

HK$5.92 −0.17 (2.71%)

As of Oct 2, 2026, 8:08:09 AM Delayed Price Closed

Company Report

China's Big Four State-Owned Banks' Margins Rebounded, Weak Loan Demand Caps Upside

Iris Tan Aug 31, 2026

China's big four state-owned banks, Agricultural Bank of China, Bank of China, China Construction Bank, and the Industrial and Commercial Bank of China, posted interim revenue and profit growth of 9%-11% and 3%-5% year on year, respectively.

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Price vs Fair Value

View History

03988 is trading at a LOCK|p%&<?< premium.

Price

HK$5.92

Oct 2, 2026

Fair Value

LOCK|@D

Aug 31, 2026

Uncertainty

LOCK|jX>bk

1-Star Price: LOCK|YFx
5-Star Price: LOCK|gW
Economic Moat: LOCK|y!
Capital Allocation: LOCK|&&X>$!k

Bulls Say, Bears Say

Bulls

We believe the average BOC customer is wealthier than a customer at Big Four peers, as total assets managed by BOC’s private bank accounted for roughly 20% of the bank’s retail AUM.

Bears

BOC's net interest margin faces downward pressures with the US Fed's interest rate cuts.

Trading Information

Previous Close Price: HK$6.09
Day Range: HK$5.89–6.00
52-Week Range: HK$4.11–6.14
Bid/Ask: HK$5.91 / HK$5.92
Shares Outstanding: 322.21B
Market Cap: HK$1.91T
Volume/Avg: 148M / 182M

Key Statistics

Price/Earnings (Normalized): 7.17
Price/Sales: 2.61
Dividend Yield (Trailing): 4.32%
Dividend Yield (Forward): 4.32%
Dividend Payment Schedule: Jan, Aug
Total Yield: 4.32%

Company Profile

Founded in 1912 and headquartered in Beijing, Bank of China, or BOC, has evolved through multiple institutional mandates—from central bank to foreign exchange specialist to state-owned trade finance bank—before establishing its current universal banking model. The group was dual-listed on the Hong Kong and Shanghai stock exchanges in 2006. It provides a comprehensive range of financial services to customers across Greater China and overseas. Central Huijin, a Chinese state-owned investment company and BOC's largest shareholder, controls 64%. BOC has the most extensive global reach among Chinese banks, with operations in 64 countries and regions.

Sector: Financial Services
Industry: Banks - Diversified
Stock Style Box: Large Value
Total Number of Employees: 313,746
Website: https://www.boc.cn

Competitors

Valuation

Metric	03988	600036	601939
Price/Earnings (Normalized)	7.17	7.14	8.56
Price/Book Value	0.60	0.91	0.81
Price/Sales	2.61	3.19	3.67
Price/Cash Flow	10.41	11.55	15.19

Price/Earnings

03988

600036

601939

Financial Strength

Metric	03988	600036	601939
Quick Ratio	—	—	—
Current Ratio	—	—	—
Interest Coverage	—	—	—

Quick Ratio

No chart available

Profitability

Metric	03988	600036	601939
Return on Assets (Normalized)	0.93%	1.15%	0.74%
Return on Equity (Normalized)	13.31%	13.77%	9.80%
Return on Invested Capital (Normalized)	—	—	—

Return on Assets