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FINANCIAL SERVICES | Staff Reporter, Hong Kong
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Hang Seng Bank's attributable profit plunges 60% to HK$8,005m in 2016

And operating profit is down 12% to HK$9,516m.

Operating profit excluding loan impairment charges and other credit risk provisions down 10% to HK$10,237m (HK$11,414m for the first half of 2015; up 12% compared with HK$9,133m for the second half of 2015).

Operating profit down 12% to HK$9,516m (HK$10,820m for the first half of 2015; up 10% compared with HK$8,619m for the second half of 2015).

Profit before tax down 56% to HK$9,499m (HK$21,720m for the first half of 2015). Excluding the gain on partial disposal of Industrial Bank in the first half of 2015, profit before tax down 14%; up 8% compared with the second half of 2015.

Attributable profit down 60% to HK$8,005m (HK$20,048m for the first half of 2015). Excluding the gain on partial disposal of Industrial Bank in the first half of 2015, attributable profit down 15%; up 8% compared with the second half of 2015.

Return on average ordinary shareholders’ equity of 12.4%. Excluding the gain on partial disposal of Industrial Bank in the first half of 2015, return on average ordinary shareholders’ equity of 14.5% for the first half of 2015 and 10.6% for the second half of 2015.

Earnings per share down 60% to HK$4.19 per share (HK$10.49 per share for the first half of 2015). Excluding the gain on partial disposal of Industrial Bank in the first half of 2015, earnings per share down 15%; up 12% compared with the second half of 2015.

Second interim dividend of HK$1.10 per share; total dividends of HK$2.20 per share for the first half of 2016 (HK$2.20 per share for the first half of 2015).

Common equity tier 1 (‘CET1’) capital ratio of 16.8%, tier 1 (‘T1’) capital ratio of 18.1% and total capital ratio of 21.2%, at 30 June 2016. (CET1 capital ratio of 17.7%, T1 capital ratio of 19.1% and total capital ratio of 22.1% at 31 December 2015).

Cost efficiency ratio of 32.7% (31.0% for the first half of 2015; 36.9% for the second half of 2015).

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