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    Perlie Mong

    Research Analyst at KBW

    Perlie Mong is an equity research analyst at Bank of America Securities, known for specialized coverage of the European banking sector with a particular focus on UK institutions such as Lloyds Banking Group. Her analytical work includes providing investment recommendations and price targets; for example, she reiterated a Hold rating on Lloyds with price target adjustments as of May 2025, backed by detailed sector analysis. Mong’s professional track record highlights a data-driven, disciplined approach to financial markets, although specific published performance metrics or extensive rankings are currently limited in the public domain. Her career at Bank of America builds upon previous experience in financial services, and she maintains required securities industry certifications and regulatory registrations commensurate with her senior equity analyst position.

    Perlie Mong's questions to BARCLAYS (BCS) leadership

    Perlie Mong's questions to BARCLAYS (BCS) leadership • Q2 2025

    Question

    Perlie Mong asked if Barclays has a 'Plan B,' such as acquisitions, to meet its UK RWA deployment target if the macro environment weakens, and how that would impact shareholder distributions. She also sought confirmation on the timing for group costs to decline, referencing previous guidance.

    Answer

    Group Finance Director Anna Cross reiterated that the UK growth plan has always been organic and that the bank will not compromise on lending quality or returns to meet a target, with shareholder distributions remaining a higher priority in the capital hierarchy. She also clarified that the plan is for the group cost base to come down in 2026, not 2027, and confirmed the bank is on track to meet its 2025 cost-to-income ratio guidance of circa 61%.

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    Perlie Mong's questions to BARCLAYS BANK (ATMP) leadership

    Perlie Mong's questions to BARCLAYS BANK (ATMP) leadership • Q3 2024

    Question

    Asked if the large scale of the structural hedge makes Barclays more sensitive to long-term rates. She also questioned if it matters whether maturing hedges are reinvested or simply allowed to roll off, since both actions seem positive for NII.

    Answer

    The executive stated that the hedge tenor (2-7 years) does not make them more sensitive to the long end of the curve than others. They explained that while letting hedges roll off is currently beneficial, the key purpose of the programmatic hedge is to provide certainty and stability for future NII, which is why they actively manage it to lock in future income.

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    Perlie Mong's questions to HSBC HOLDINGS (HSBC) leadership

    Perlie Mong's questions to HSBC HOLDINGS (HSBC) leadership • Q1 2024

    Question

    Perlie Mong asked how the 'higher for longer' rate outlook informs the bank's medium-term RoTE trajectory. She also inquired about the impact of higher U.S. rates on emerging market activity, capital flows, and specifically on China's trade dynamics.

    Answer

    Georges Elhedery, Group CFO, recognized higher rates as a tailwind but deferred longer-term guidance updates, reminding that the ~$1 billion NII from Argentina will be removed post-sale. Both he and Noel Quinn, Group CEO, highlighted resilient business activity, with Noel emphasizing that outbound investment from China to the rest of the world is picking up at a significant pace, which HSBC is well-positioned to capture.

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