BOC Hong Kong earns more than 4% last year, loan and account impairment provision increased by 669 million yuan

Financial news

Written by: Yue Yueting

2020-03-27 17:46

BOC Hong Kong (2388) announced last year's results. The profit attributable to shareholders was 33.574 billion yuan, an increase of 4.69% year-on-year. Basic earnings per share were 3.044 yuan. A final dividend of 0.992 yuan was taken into account, taking into account the interim dividend. .

During the period, net operating income before impairment allowances was 58.444 billion yuan, up 7.17% year-on-year; operating profit was 39.755 billion yuan, up 4.38%; net interest income was 40.523 billion yuan, up 2.6%; net interest margin 1.59%, down 3 basis points year-on-year; net service fee and commission income was 10.919 billion yuan, a decrease of 3.5%.

Last year, BOC Hong Kong's average return on shareholders' equity was 11.51%, a year-on-year decrease of 0.75 percentage points; net allowance for impairment losses on loans and other accounts was HK $ 1,852 million, an increase of 669 million or 56.6% year-on-year. The increase of 418 million yuan was mainly due to the decline in the loan ratings of certain customers in the second half of the year and the macroeconomic outlook factors in updating the expected credit loss model.

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