---
title: "\"Big Banks\" Bank of America Securities: HKEX's net profit last year was roughly in line with expectations"
description: "The Bank of America Securities report indicates that the Hong Kong Exchanges and Clearing (HKEX) will have a net profit of HKD 17.8 billion for the fiscal year 2025, a growth of 36%, in line with expe"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/277153330.md"
published_at: "2026-02-27T06:25:09.000Z"
---

# "Big Banks" Bank of America Securities: HKEX's net profit last year was roughly in line with expectations

> The Bank of America Securities report indicates that the Hong Kong Exchanges and Clearing (HKEX) will have a net profit of HKD 17.8 billion for the fiscal year 2025, a growth of 36%, in line with expectations. The average daily trading volume reached HKD 250 billion, setting a new historical high. Fees related to trading volume saw strong growth, driving profitability. The fundraising scale in 2026 is expected to expand, although a slowdown in growth is considered the baseline scenario. The target price is maintained at HKD 520, reiterating a "Buy" rating

Bank of America Securities published a report stating that Hong Kong Exchanges and Clearing (00388.HK) announced a net profit of HKD 17.8 billion for the fiscal year 2025, representing a year-on-year growth of 36%, which is roughly in line with expectations. The average daily trading volume reached HKD 250 billion, an increase of 89% year-on-year, setting a new historical high. Fees related to trading volume also recorded strong growth, contributing to profits, but at the same time set a very high comparative benchmark for 2026.

The report indicated that the fundraising amount for initial public offerings (IPOs) on the Hong Kong Stock Exchange reached HKD 287 billion, a year-on-year increase of 225%. With a strong IPO pipeline, the bank expects the fundraising scale to further expand in 2026. Although a slowdown in growth for 2026 is the base case scenario, the current 28 times expected price-to-earnings ratio for 2026 remains attractive. Based on a decrease in the cost-to-income ratio, the expected earnings for 2026-2027 have been raised by 1-4%. The target price is maintained at HKD 520, reiterating a "Buy" rating

### Related Stocks

- [00388.HK - HKEX](https://longbridge.com/en/quote/00388.HK.md)
- [HKXCY.US - Hong Kong Exchanges and Clearing (HKEX)](https://longbridge.com/en/quote/HKXCY.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| HKEX Sees Diverse IPOs Amid AI Bubble Risk | HKEX chief executive Bonnie Chan says the Hong Kong exchange has attracted a diverse range of IPO applicants, from diffe | [Link](https://longbridge.com/en/news/277069209.md) |
| Space Group Terminates Restructuring as HKEX Cancels Listing | Space Group Terminates Restructuring as HKEX Cancels Listing | [Link](https://longbridge.com/en/news/276832839.md) |
| HKEX Announces Second Interim Dividend of HK$6.52 Per Share for 2025 | Hong Kong Exchanges and Clearing Limited (HKEX) has declared a second interim dividend of HK$6.52 per share for the fina | [Link](https://longbridge.com/en/news/276993996.md) |
| HKEX Chief: «Cause for Optimism in Capital Markets» in 2026 | Hong Kong Exchanges and Clearing (HKEX) CEO Bonnie Chan expresses optimism for capital markets in 2026 after a record fi | [Link](https://longbridge.com/en/news/277170124.md) |
| SFC moves to freeze assets of 3 insider traders who have left Hong Kong | The Securities and Futures Commission (SFC) has obtained court orders in Hong Kong and the UK to freeze HK$4.3 million i | [Link](https://longbridge.com/en/news/276832168.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.