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    Pui Mong

    Research Analyst at Bank of America

    Pui Mong is an equity research analyst at Bank of America, holding the position of Vice President and specializing in the coverage of Asian financial institutions. She follows a broad set of companies in the banking and insurance sectors across Asia, providing in-depth investment insights and recommendations to institutional clients. With over a decade of experience that includes prior roles at UBS and Credit Suisse, Pui Mong has been recognized for strong performance, achieving above-industry average success rates on stock calls and ranking well on platforms such as TipRanks for her timely and accurate forecasts. She holds FINRA Series 7 and 63 licenses, reflecting her commitment to regulatory standards and professional excellence in equity research.

    Pui Mong's questions to BARCLAYS (BCS) leadership

    Pui Mong's questions to BARCLAYS (BCS) leadership • Q1 2025

    Question

    Pui Mong from Bank of America asked about the US cards margin outlook if the Fed cuts rates more aggressively than expected. She also questioned the path to the >12% RoTE target for 2026, asking where consensus might be too pessimistic.

    Answer

    Executive Angela Cross explained that US cards' interest rate risk is hedged, with the offset appearing in non-NII, protecting overall income from margin compression. She reaffirmed confidence in the 2026 targets, citing diversified income growth, cost control, and an impairment outlook expected to remain within the guided 50-60 basis point range.

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