BOCHK profit soars 28% YoY to $34.86b in 2023

With improved profit, the bank proposed a 23.2% YoY higher dividend per share.

Bank of China Hong Kong recorded a profit of $34.86b for 2023, translating to a 28% year-on-year (YoY) increase.

Its net operating income before impairment allowances also grew, rising  20.8% YoY to $65.50b.

Profit attributable to equity holders amounted to $32.72b, reflecting an increase of 26.1% YoY, whilst return on average shareholders’ equity was 10.6%, up 2.10 percentage points.

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Total deposits from customers and total advances to customers went up by 5.3% and 3.3% YoY respectively, outpacing the prevailing market growth rates.

Dividend per share for the full year is at $1.67, up 23.2% YoY, with the payout ratio increasing to 54%.