AIA is expected to announce the company's third-quarter business data at the end of this month. Citibank released research reports, indicating that AIA is expected to deliver resilient performance once again. Under the continuous stable growth momentum in the Hong Kong market, forecasted the third quarter new business value (VoNB) to increase by 13% when calculated at the actual exchange rates, slightly slower than the 15% year-on-year growth in the second quarter. Although the quarterly report will not disclose intrinsic value and profit-related data, Citibank estimates that due to strong stock market performance, AIA's third-quarter performance will significantly improve.
The bank predicts that, when calculated at fixed exchange rates, AIA's VoNB in China and Hong Kong in the third quarter will increase by 10% and 20% respectively. In addition, VoNB in Thailand, Singapore, Malaysia, and other markets are expected to increase by 5%, 8%, 6%, and 8% respectively year-on-year. Citibank has set a target price of 99 Hong Kong dollars for AIA, corresponding to an estimated stock price-to-intrinsic value ratio of about 1.9 times in 2024, with a "buy" rating.
