, Hong Kong
Hang Seng Bank.

Hang Seng Bank’s profits up 79% in H1; HK$1.1 per share interim dividend declared

Operating profit rose 67% compared to a year earlier.

Hang Seng Bank saw its profit attributable to shareholders rise 79% to HK$9.82b in H1, the bank revealed in its 2023 interim results. This is over four billion dollars higher than the HK$5.5b in profits it logged for the first half of 2022.

The Hong Kong-headquartered bank–which celebrated its 90th anniversary this year– has declared a second interim dividend of HK$1.1 per share, with total dividends of HK$2.2 per share for the period. Earnings per share is now up 83% to HK$4.99 per share, compared to HK$2.73 per share in H1 2022, Hang Seng Bank said.

Pre-tax, Hang Seng Bank’s profit before tax rose 71% to HK$10.96b, compared to HK$6.4m for H1 2022.

ALSO READ: Hang Seng Bank raises HKD prime lending rate to 5.875% per annum

Operating profits were HK$10.85b during the period, a 67% rise from HK$6.49b for H1 2022.

Common equity tier 1 (CET1) capital ratio of 16.8%, whilst the tier 1 (T1) capital ratio is 18.5% as of 30 June. Cost efficiency ratio is 35.9% during the period, lower than the 44.2% for H1 2022. 

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

HK scraps MPF Offsetting Scheme to enhance employee protection
Starting 2025, employers are no longer allowed to offset long service and severance payments from its Mandatory Provident Fund contributions.