HLB likely to cut stake in Bank of Chengdu

Maybank IB Research noted that BOCD’s fundamentals remained strong.

PETALING JAYA: Hong Leong Bank Bhd’s (HLB) investment in China’s Bank of Chengdu (BOCD) has proven profitable, and the bank may eventually sell down its current 19.8% stake in the latter.

Positively, this is supplemented by a push to drive higher earnings from its domestic operations, said Maybank Investment Bank (Maybank IB) Research.